A blockchain is probably the greatest technological innovation of the 21st century so far. Its full potential is yet to be seen. However, it is already clear that the world — and the world of professional finance in particular — will never be the same. Despite positive long-term prospects, the technology is still immature and fragile, especially in the sphere of cross-chain operations. Separate blockchains fail to cooperate effectively, turning cryptocurrency management into a hassle. The Open Trading Network* is aiming to solve this problem. Just like the Internet connected separate computer networks into a World Wide Web, the OTN is going to unite isolated blockchains into a global network.
With all the new possibilities offered to the financial and cryptocurrency markets, the Open Trading Network is destined to hit it big. Fortunately, all traders out there already have a chance to lay their hands on OTN tokens. In order to do so, you simply have to trade crypto assets on the IQ Option trading platform.
Read the full article to learn more about OTN tokens and their practical applications.
Why not ICO?
Initial coin offerings are the hottest topic of the trading season. However, in the professional cryptocurrency community, the term ICO is quickly becoming the synonym for a scam. It is incredibly easy to raise funds with the help of nothing but a white paper — a long list of promises usually not even accompanied by a working prototype, never mind a fully operational project. On the back of the cryptocurrency craze, ‘developers’ attract millions of dollars without returning any tangible results.
Jordan Belfort, the infamous penny-stock broker formerly known as the “Wolf of Wall Street,” goes as far as to call all ICOs the ‘biggest scam ever’. And he is not the only one to warn risk-taking investors. The Securities and Exchange Commission (SEC), a U.S. government agency that oversees securities transactions, alerted potential investors to the pump and dump ICO schemes.
The OTN foundation does not want to be associated with scam and unfair business practices and has, therefore, introduced the original system of token distribution which is not banking on user funding.
How to Get?
There are two ways to get OTN tokens.
First is to mine them by trading crypto assets on the IQ Option platform. Each week a new portion of OTN tokens will be distributed among all traders involved in the cryptocurrency trading. The number of tokens received by each individual is directly connected to his respective trading volume. Please note that the number of tokens released weekly will gradually diminish, thus increasing the mining difficulty and simultaneously driving the token price up.
The second option is to buy OTN tokens directly from livecoin.net. The exchange can also be used to sell OTN tokens. This option is designed for those who are not particularly interested in trading. The difference between two approaches is clear. While those who buy OTN tokens via an online exchange miss out on any potential trading-related profit, IQ Option clients have a chance to both receive OTN tokens and capitalize on the cryptocurrency trading itself.
It is your choice whether to sell the received tokens now or to wait for them to appreciate and capitalize on them later.
Reasons to “Mine”
The OTN system itself is designed with an idea to revolutionize the cryptocurrency industry, turning separate blockchains into a global network and providing additional opportunities for individuals, traders, businesses and regulators. OTN tokens can, therefore, be expected to go up in price due to increasing popularity of the Open Trading Network and related services.
On the technical side, the amount of OTN tokens released each week is going to decrease over time. According to the laws of demand and supply, the price of OTN tokens will go up due to contracting supply and growing demand.
If not for speculative purposes, OTN tokens can also be used to cover the commission when trading on the IQ Option platform.