Coinfomania: Where blockchain and cryptos live.

OpenDAX 2.6 by Openware – Cryptocurrency Exchange Software Flagship

When Louis Bellet and Camille Meulien created Helios Technologies in 2006, they became innovators in IT solutions. Helios Technologies was one of the first companies in the world to embrace digital cloud transformation to leverage technology for business.

Building financial infrastructure of tomorrow

While many companies were taking their time to adopt the cloud technologies we now see as commonplace, those who partnered with Helios Technologies could harness the benefits of cloud DevOps pipelines, e-commerce adoption, data science, and machine learning.

Those businesses broke the mold and got ahead of their competitors by using a cloud-based environment for enhanced data processing, security, and scalability. It was the dawn of a new age of digital opportunity. It allowed smaller brands to go global and larger brands to streamline their processes to improve efficiency and boost ROI.

Fast-forward 11 years of finance ecosystem modernization and Louis Bellet was at it again. In 2017 he happened upon an abandoned GitHub repository of a digital trading exchange called Peatio, and his entrepreneurial spirit came back to the fore.

Realizing the cryptocurrency market’s potential, Louis and the Openware team drew on their DevOps expertise to rewrite it into something more resounding with modern Fintech. They’ve included microservice-oriented architecture and introduced new components to improve security, stability, and platform scaling.

That platform became OpenDAX – an open-source cryptocurrency exchange software for digital assets.

Openware has a simple mission statement:

‘To enable a safe, transparent, and universally accessible financial ecosystem.’

Openware is a company dedicated to the development of advanced blockchain technologies for financial infrastructure.

Previously headquartered in France and now in California, the company also has branches in Ukraine and Thailand. Openware is a leading name in the cryptocurrency and blockchain markets and enables companies to build advanced distributed ledger applications, open alternative marketplaces and launch next-generation financial infrastructures.

How does the cryptocurrency market look like in 2021?

Decentralized, transparent, and secure, many consider the cryptocurrency market to be the future of global commerce. Despite some early mistrust by consumers, cryptocurrency has proved to be a roaring success, and many global giants are now getting in on the market.

Decentralized finance (DeFi), once no more than a pipedream, is now a reality. Interest rates on cryptocurrencies start at around 4%. And with major banks paying about 0.1%, that has to appeal to savers and investors alike. After all, the impact of COVID-19 is likely to affect the traditional markets for some time to come.

But while heads have been turned to the mainstream news on the virus, vaccinations, and lockdowns, just over 2020, the value of DeFi market capitalization went from 1 billion USD to 16 billion USD. With more and more mainstream industries using cryptocurrency for their day-to-day business transactions, the trust in digital exchange platforms has increased significantly.

Openware leadership is concerned with cybersecurity in Blockchain industry

That’s not to say that there are no concerns about the rapid development of blockchain technology.

After over 15 years in corporate Fintech DevOps and numerous successes under their belts, Louis Bellet and Camille Meulien raise some legitimate concerns on the matter. They feel that the developer community needs more efforts to address cybersecurity concerns throughout the Blockchain industry.

By their very nature, financial software products require high-security levels as the cogs turning the global trade and economies. The recent boom in Blockchain has inevitably led to a host of inexperienced developers and entrepreneurs trying to make a quick buck while the hype is high.

There will always be stories of those who have dipped their toes in cryptocurrency waters and struck gold. But there will be far more tales of woe of crypto exchanges getting hacked, having cryptocurrency stolen, and losing their customers and investments. Booms like the one we see around cryptocurrency will always attract unscrupulous people. In the same way that scammers are always looking for new ways to exploit vulnerabilities in traditional banking methods, they will try to find ways of tricking people into parting with digital assets.

Does that mean you should avoid cryptocurrency? No. On the contrary, it means that cryptocurrency should be given the same security respect as the cash in your bank account or your physical wallet.

Don’t ignore the potential rewards of crypto investments simply because there are risks associated with them. Who wants to miss a potentially very lucrative income source?

The best way to manage the risks is to work with experienced developers who have a proven track record of delivering secure, user-friendly platforms, which consumers enjoy using and are not susceptible to remote hacks.

Cryptocurrency and those that invest in it are on a journey of discovery, where the opportunities are endless and limited only by imagination.

What’s new in OpenDAX 2.6 by Openware?

OpenDAX (Open-Source Digital Assets Exchange) is a hybrid open-source crypto exchange software consisting of public and private libraries. You can use it to build a fully-featured exchange service for trading cryptocurrencies, digital assets, and security tokens.

OpenDAX just took the next step in the digital financial journey.

The new 2.6 release of OpenDAX supports multi-signature wallets of the Ethereum-based blockchains and benefits from Gnosis support’s addition – a significant enhancement to funds’ security. With multi-signature wallets, all cosignatories can see the transactions, but funds will only be transferred after passing authorization from a predetermined number of signatories.

Openware has also unified deposit wallet maintenance in OpenDAX 2.6, reducing security exposure and the amount of resources taken up by cloud resources.

To combat money laundering, the platform now supports global withdrawal limits in a specific currency. Due to its open audit trail, Blockchain is now seen as one of the most secure methods for exchanging assets, and this new feature gives crypto exchange owners and users added peace of mind.

As a quality of life feature, users can now change some core registration information, such as email addresses and phone numbers. Phones get lost or damaged, and emails get hacked, but your OpenDAX login remains secure.

Ethereum Gas commission rates can be automated in the OpenDAX stack to ensure transactions go through as the commission rates adjust automatically. And it now recognizes and manages smart-contract deposits, offering enhanced brokerage and investment support.

To that end, OpenDAX now fully supports CoinGecko and CoinMarketCap API endpoints, allowing for enhanced user experience via the host of info widgets available from these vendors.

What are the benefits of Blockchain and crypto technologies?

The fast-paced world of modern business combined with the boom in cryptocurrency requires agile methodology. Innovation is the name of the game, and companies must continue to offer the shiniest, best and fastest cloud-based solutions so that end-users are kept satisfied.

Louis Bellet’s history of adaptability, innovative thinking, and success in developing secure digital solutions marks him out as a man to keep an eye on as the Blockchain and crypto industries develop and grow.

Cryptocurrency boasts a plethora of benefits for businesses and individuals. Fees are generally lower than with credit cards or bank transfers. Transactions are instant, as opposed to credit card payments or some soon to be defunct BACS transfers, which can take days to process. Cryptocurrency payments cannot be reversed, reducing the risk of fraudulent transactions. There are no international borders to hamper trade. The Internet has created a global market in itself.

Cryptocurrency is a development of that limitless market – one that allows seamless transactions from anywhere in the world to anywhere in the world. It is the money of the future. It is the way that future generations will want to transact their business.

Look around the world’s history, and you will see many examples of major brands that failed to move with the times and got left behind as consumer needs changed.

Thank you for reading, and don’t forget to follow Openware on what’s new in crypto software and Blockchain development:






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