1 – Introduction
2 – Problem definition
2.1 – Narrow selection of cryptocurrencies
2.2 – Complex interface
2.3 – Low privacy level
3 – OnePageX
3.1 – What is OnePageX?
3.2 – Features of OnePageX
3.2.1 – No sign-up
3.2.2 – Wide selection of cryptocurrencies
3.2.3 – Simple interface
3.2.4 – OneBox Widget Integration
3.3 – How to use OnePageX
3.4 – The Future of OnePageX
4 – OnePageX solutions to defined problems
4.1 – Wide selection of cryptocurrencies
4.2 – Simple interface
4.3 – No sign-up
5 – Applications and Use Cases
5.1 – Application and Use case for cryptocurrency investors
5.2 – Application and use case for cryptocurrency exchanges
6 – My video on Bumo
7 – Conclusion
1 - INTRODUCTION
Have you ever bought a product on Amazon.com? Amazon.com is arguably one of the largest ecommerce stores in the world. It achieved this Goliath status in the industry through its early entrance into the market, good business judgement, hard work ethics, good timing, and most importantly an ever increasing quest for innovation and better ways of serving the customer. In summary Amazon put the customer first.
One of the innovations that set Amazon ahead of the pack was its 1-Click patent. The 19-page highly controversial patent that consisted mostly of flow-charts showing the processes involved in enabling the customer make one-click purchases, gave Amazon the sole right to use the concept of One-Click ordering – a move which turned out to be a supreme weapon in its e-commerce arsenal.
1-Click ordering is a simple but revolutionary innovation that enables customers purchase items online by clicking one button. When a customer first orders, payment method and shipping information are required from the customer and stored on the Amazon database. From that point onwards, when the customer clicks the 1-Click button, the billing and shipping information previously stored are automatically retrieved and used to process the order.
Just as 1-Click ordering revolutionized the way people made purchases online, there is need also for a revolution in the way cryptocurrency exchanges process cryptocurrency transactions by simplifying the processes involved in these transactions. Also, being blockchain based, the cryptocurrency exchanges should truly reflect the qualities of decentralized systems, by ensuring full privacy and security for users.
This will clearly reflect the privacy and security advantages that decentralized systems have over centralized systems like the Amazon 1-Click ordering system, where data of users are stored in the form of shipping and delivery information, and hence are at risk of being accessed by hackers.
Hence, we can finally say that there is need for a cryptocurrency exchange that will not just be the “Amazon 1-Click version” of the cryptocurrency exchange industry, but will be more superior, by taking simplicity and privacy to the next level, through its non-requirement of any person-related information from users, as it makes available a wide selection of cryptocurrencies for users to work with.
2.- PROBLEM DEFINITION
It will be biased to pass a verdict that current cryptocurrency exchanges have been of no contribution whatsoever to the advancement of the blockchain industry. Rather, they have done a really good job through the years in giving cryptocurrency traders the platform to trade.
However, there are some problems that these current cryptocurrency exchanges possess, that have hindered them from rendering impeccable services to the cryptocurrency traders’/investors community, hence indirectly hindering the wide spread mass adoption and commercialization of cryptocurrencies and blockchain technology at large.
These problems are as follows:
- Narrow selection of cryptocurrencies
- Complex interface
- Low privacy level
2.1 – Narrow selection of cryptocurrencies
When I first got involved with cryptocurrencies in 2017, the prices of various newly emerging cryptocurrencies were increasing at an alarming rate. It was so unfortunate that majority of the cryptocurrency exchanges did not have these cryptocurrencies listed on their exchanges, meaning I could not partake of those volatile price movement, hence losing out on those potential profits.
Most of the current cryptocurrency exchanges don’t have sufficient amount of cryptocurrencies listed on their exchange. This is primarily because most of those cryptocurrencies don’t have as much liquidity as other major currencies like Bitcoin and Ethereum, hence the reluctance to take the risk of obtaining them with scare company resources.
2.2 – Complex interface
According to Wikipedia, the amount of cryptocurrencies available on the internet as of 19 August 2018 is over 1600. These cryptocurrencies have different principles of operation and storage. In a bid to create an efficient and workable means of exchange between these cryptocurrencies, the user interface of these exchanges become complex.
Also, in a bid to inculcate other non-cryptocurrency functionalities into the operation of these exchanges, even the efficiency of the exchanges in carrying out cryptocurrency-related functions become compromised, because the system has become complex.
Finally, because most of these exchanges require registration of users, which mostly involves verification using government issue I.D, these exchange interfaces become more complex as more pages are required for data collection.
2.3 – Low privacy level
One of the strengths of blockchain’s decentralized protocol is its ability to provide high level of privacy and security to users. This has been one of the major selling points of the blockchain technology.
It’s unfortunate that most of the present blockchain based cryptocurrency exchanges, water down the privacy advantage that blockchain based projects are known for, by requesting the details of intending users during registration. This negates the “high privacy” principle associated with decentralization, hence hindering the entrance of investors into the cryptocurrency market.
From these listed problems, we can therefore see that there is need for a new exchange that will possess a simple and easy-to-use interface, a database with multiple selection of cryptocurrencies, and finally an operation protocol with maximum level of privacy for users.
3.0 – OnePageX
3.1 – What is OnePageX?
Just the way Amazon’s 1–Click ordering protocol is the simplest ordering system on the internet but yet connected to the largest database of products in the world, OnePageX is the simplest cryptocurrency exchange on the internet with the largest online selection of cryptocurrencies.
By definition, OnePageX (which is short for OnePageExchange) is an online cryptocurrency to cryptocurrency exchange, aimed at simplifying the process involved in converting one cryptocurrency to another.
3.2 – Features of OnePageX
In its quest to continuously embody its philosophy of simplifying the process of trading and converting cryptocurrencies, while also making a large selection of cryptocurrencies available to users, OnePageX possesses the following features:
3.2.1 – No sign-up
OnePageX embodies the properties of decentralization, by making sure that users have total privacy, in that users are not required to provide any of their data by means of register on the exchange. OnePageX homepage takes users straight to cryptocurrency exchange.
Also, by virtue of the fact that users are not required to sign-up before having access to the platform, the pages usually allocated for sign-up have been removed, hence making the system simpler and faster.
3.2.2 – Wide selection of cryptocurrencies
Variety they say, is the spice of life. Diversity makes cryptocurrency exchanges interesting and customer-centric. As of now, OnePageX has a growing selection of over 150+ cryptocurrencies in its database, giving users the platform to exchange bitcoin for any of these cryptocurrencies. Users don’t have to leave the OnePageX page to convert between cryptocurrencies, for it can all be done on the OnePageX page.
3.2.3 – Simple interface
Google’s major advantage over other rival search engines like Yahoo! was its simple interface – a white page with a google-named search box. While other search engines had clustered and design laden interface, google opted for a simple user interface. This simple interface made search extremely easy.
In like manner, OnePageX has a very simple user interface, one built to enable even less crypto-tech savvy individuals to easily perform cryptocurrency exchanges in the fastest time possible, and with the slimmest possibility for error.
3.2.4 – OneBox Widget Integration
A widget is a plug-in application used on a website page to enables users access a particular service or information.
OnePageX has its own customized widget which can be integrated into any website. This widget is called OneBox. Through this widget, any website can have full access to the functions on the OnePageX page, all within the widget, without needing to leave the website they currently are on.
To plug the widget unto your website, just copy the source code at the bottom of the OneBox widget page as shown above to your website, and you’ll have a full representation of the OnePageX page within the OneBox widget on your website.
3.3 – How to use OnePageX
Not knowing the way to use a product makes abuse inevitable, hence the need for the elaborate illustration on the usage of OnePageX platform as follows:
- Pick the cryptocurrency you want to convert Bitcoin (Other cryptocurrencies will be added in the future) to.
- Enter the withdrawal address of the cryptocurrency you selected above.
- Click the “Start Exchange” tab
- A transaction card with a Bitcoin deposit address will appear, where you are to deposit the amount of bitcoin you want to have converted. After depositing, you can then monitor the transaction status as displayed on the transaction card.
The following images give a visual illustration of the status of each card transaction:
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NOTE
The transactions on the OnePageX page are instant the moment deposits have been confirmed and appropriate fees have been paid if applicable.
3.4 – The Future of OnePageX
The OnePageX beta is already live and open to use for cryptocurrency conversion. However, in line with its vision of enabling the trading of most cryptocurrencies, the OnePageX team will continue to add more cryptocurrency assets to its growing database of over 150+ cryptocurrencies, so that users can have a wider range of cryptocurrencies to work with.
Also, for the time being, conversions can be made only from bitcoin to other cryptocurrencies. The OnePageX team will add other cryptocurrencies e.g. STEEM in the future, so that users have more choices to work with.
Finally, being open to feedback, the OnePageX team will continuously make updates to the OnePageX page, adding features that will improve its capacity to effectively serve users.
4.0 – OnePageX solutions to defined problems
The OnePageX provides the following solutions to the current cryptocurrency exchange problems previously enumerated:
4.1 – Wide selection of cryptocurrencies
OnePageX page has many cryptocurrency assets on its page, more than any other cryptocurrency converterSource.
To make this large selection of cryptocurrencies available, OnePageX integrates with other exchanges, sifting through them to get the best possible price for any given cryptocurrency. Its ability to integrate with other exchanges, gives it access to a wide selection of cryptocurrencies, hence giving users more choices on the cryptocurrencies to work with,
4.2 – Simple interface
Rather than having a complex looking user interface that will scare less crypto-tech savvy people away, OnePageX has a simple one-paged user interface that is simple enough for any person to understand, irrespective of their crypto knowledge level.
Through this simple interface, investors can be encouraged to partake of the crypto industry through OnePageX platform, knowing full well that their knowledge level on cryptocurrencies will not be a disadvantage to them.
4.3 – No sign-up
In step with the goal of decentralization, which is to provide people with high privacy and security, OnePageX will ensure maximum privacy for users, by not requesting any personal information from users before they can use the OnePageX page – not even sign-up information.
Hence, for users to be able to have access to their transactions, the OnePageX system is designed such that the user’s URL adds a session to the OnePageX page whenever the user starts a transaction. The User is then to save or bookmark that URL. To get back to the transaction for whatever reason, all the user has to do is visit the saved URL, which opens the added session on the OnePageX page.
5.0 – APPLICATIONS AND USE CASES
5.1 – Application and Use case for cryptocurrency investors
Application
Most cryptocurrency investors prefer to invest in cryptocurrencies when their value is low. They do their research on various cryptocurrencies, and then trade the ones whose research results have given a green light. This therefore means that cryptocurrency investors have to have access to a wide range of cryptocurrencies.
Unfortunately, most cryptocurrency exchanges rarely list new cryptocurrencies, and those who do, have narrow cryptocurrency selections, hence hindering the profit-making potential of traders.
OnePageX can help proffer a solution to this challenge through its wide selection of cryptocurrencies. Investors will no longer have to bother about cryptocurrency availability. They can now do their research rest assured that they will have access to over 150+ cryptocurrencies on the OnePageX page.
Use case
I consider myself a cryptocurrency investor, although on a smaller scale. I have been investing in startup cryptocurrencies since 2017. I put my ears to the ground, and when I get information on cryptocurrencies that have a high possibility of increasing in value, I do my personal research, and if I get a green light, I go ahead to purchase them.
Unfortunately, I have missed out on profiting from so many startup cryptocurrencies because I had no way of getting those cryptocurrencies. My research had shown me that some of them will increase in value, but the exchanges disappointed me by not having those cryptocurrencies on their exchanges.
On finding out about OnePageX, I now have access to a wide range of cryptocurrencies. OnePageX is really ideal for me as a cryptocurrency investor, because it does not only list established cryptocurrencies like Bitcoin and Ethereum, but also other less known cryptocurrencies that have a high possibility of increasing in value.
I do my research, discover cryptocurrencies with potentials for increasing in value, visit the OnePageX page, exchange bitcoin for those cryptocurrencies, and then reap profits as they increase in value.
5.2 – Application and use case for cryptocurrency exchanges
Application
Most cryptocurrency exchanges have very narrow cryptocurrency selection. Unfortunately, because of the way their user interfaces are designed, it might be difficult adding a wide range of cryptocurrency selection directly to the platform. This has led to customers leaving the exchange platform to visit other ones when in need of cryptocurrencies not available on the current exchange.
This has in turn led to the loss of users to other platforms.
OnePageX can proffer a solution to this challenge through its OneBox widget. Through this widget, other cryptocurrency exchanges with narrow cryptocurrency selection can take advantage of OnePageX’s wide selection of cryptocurrencies. This widget can be positioned at any part of the exchange where users can access the over 150+ cryptocurrencies on the OnePageX page, without leaving the current exchange.
Use case
Jack owns a cryptocurrency exchange named Coinstar. Coinstar has been in existence for two years now. While trying to improve on services rendered on the exchange, Jack emails a couple of questionnaires to registered users, seeking for suggestions on ways to render better services.
From responses he got, he realized that majority of the users complained about his narrow selection of cryptocurrencies. In order to keep his customers, Jack decides to seek for solution.
On conducting some research, jack finds out about OnePageX and its OneBox widget. Instead of having a total exchange restructure, Jack opts for OneBox. He copies the source code from the OnePageX page unto his website, and the OnePageX page appears at a corner of his website.
Jack is so pleased now, because he gets to satisfy his customer’s desires, hence keeping them on his exchange.
6.0– MY VIDEO ON BUMO
7.0 – CONCLUSION
Cryptocurrencies have revolutionized the way financial transactions are being carried out. More than 1600 cryptocurrencies exist on the internet as of 19 August 2018. Despite this huge amount, cryptocurrencies are still being created on a daily basis.
There has to be a simple, private, and effective way in which these cryptocurrencies can be exchanged. Unfortunately, the exchanges that currently exist are not efficient at providing exchange services that are simple to use, yet giving users multiple options to choose from.
OnePageX is an exchange with a simple user interface, but with a large selection of cryptocurrencies, so that users can easily exchange their cryptocurrencies irrespective of their level of knowledge on cryptocurrencies, while having a large choice of cryptocurrencies to work with.
If you need further clarification on any issue with regards to OnePageX , just do well to drop your questions in the comment section, and I will promptly attend to it.
For more information on OnePageX , you can visit any of the following channels:
. OnePageX Website
• OnePageX FAQ
• OnePageX OneBox
• OnePageX Twitter
• OnePageX Medium
• OnePageX Steemit
• OnePageX Telegram
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hi @lucyc
I just had a chance to congratulate you for your great review related to blockchain.io and I noticed that you're also participating in originalworks contest.
Good luck to you. Well written review. You should do just fine :)
Yours,
Piotr
Thanks a lot @crypto.piotr, I really appreciate you dropping by.
Congrats @lucyc for winning a great place by writing well-deserved post. And yes, you should have also been rewarded for your video as well.