3 Things VeChain (VET) Holders Can Do on VeChain-Focused OceanEX
The beta version of OceanEx is about to go live in a matter of weeks or even days, and users can now sign up for an account before the platform goes live.
Launched by crypto solutions provider BitOcean Global in 2018, OceanEx is a digital asset exchange platform that uses artificial intelligence. This exchange is built on the VeChainThor blockchain, a network promising to be the premier blockchain for most business activities in the future.
BitOcean has a strategic partnership with VeChain, the former being committed to helping the growth of the latter.
@BitOcean_JP, one of the first cryptocurrency ATM solutions licensed by Japan's FSA, teams up with #VeChain. We are honored to continue building the world’s first ATM powered fiat payment application ecosystem on the blockchain alongside BitOcean. https://t.co/qx8TmJUTjW
— VeChain Foundation (@vechainofficial) December 27, 2017
VeChain is a decentralized application (Dapp) and initial coin offering (ICO) platform more focused on the enterprise level. This company has VeChainThor as its blockchain-based solution, which then uses VeChain (VET) as the energy running the network.
Here are three interesting services VET and other crypto holders can do on the upcoming OceanEX:
1| Exchange Cryptos
As an exchange platform, OceanEx will allow users to trade their cryptos for other types of digital coins. However, in accordance with its goal to help grow VeChain, OceanEx will prioritize tokens issued by ICOs on the VeChainThor blockchain.
The exchange will also support its own OceanEX token (OCE), alongside VET and the ICO tokens. Furthermore, OceanEx expressed its openness to provide crypto to fiat currency trading pairs.
2| Create Custom Algorithms
OceanEx users can use a number of open-source application programming interfaces (APIs) written in Python computing language to create and use customized trading-related algorithms. Users can test these algorithms using historical market data through the OceanQuant engine, one of OceanEx’s key features.
Clients can also use algorithms used by others by paying with OCE on the OceanMarket, yet another feature of this exchange. This market would also monitor the performance of the algorithms, which will be used to guide potential buyers.
3| Trade with Peace of Mind
OceanEx’s machine intelligence machine, OceanBrain, monitors data on the platform for suspicious trading behavior. This would help protect the exchange’s clients from falling into fraudsters, as well as help secure user funds from malicious attacks.
According to OceanEx, OceanBrain has a similar infrastructure with the famous AlphaGo AI program by Google. In addition, the team explained that OceanBrain uses both data evidence and human knowledge in making judgments.