Linking Crypto Networks Together with The Open Trading Network


The Open Trading NetworkOpens a new window is a new and exciting project that aims to bring together the many different blockchain systems to create a single network. The brainchild of online trading platform IQ Option and the OTN foundation, this unified “chain of blockchains” is expected to benefit both businesses and individual cryptocurrency traders.

The Open Trading Network (OTN) is based in Zug, Switzerland. The system gives individuals their own universal wallet, which can be used to store many different cryptocurrencies in the same place.

The OTN Explained

The Open Trading Network is a multi-blockchain platform that was initially developed by binary options broker IQ Option. According to the platform’s management team, it is the world’s first fully decentralized exchange that allows transactions between the various blockchain networks available today.

Based in Russia, the OTN Foundation was created to process the release of tokens, which are being used to develop the network over the coming years. The tokens are called OTNs, and they’re being issued over the coming weeks. However, there won’t be a Bitcoin-style Initial Coin Offering (ICO). Instead, traders buying and selling investment instruments on the IQ Option platform will receive tokens in exchange for their trades.

How Does OTN Work?

The Open Trading Network has three core facets: OTN Business, OTN Wallet and OTN Exchange.

OTN Business
The OTN Business module provides smart contracts via an easy-to-use interface. Companies can use their contracts to distribute tokens across the network — in a manner similar to that used by Ethereum. At launch, the developers are suggesting that the possible uses for OTN tokens include crowdfunding, loyalty rewards and discounting.
The OTN Business platform makes selecting basic contract conditions exceptionally easy. This will make the module accessible to people with little or no experience in creating contracts. Usability is further improved by the ability to pay for goods and services with tokens from launch. Businesses also have the ability to accept payments in other, more established cryptocurrencies and convert them through the OTN platform.

OTN Wallet
Any person or organization that wishes to buy and sell cryptocurrencies needs a wallet, which is why the OTN has developed one of its own. The OTN Wallet is able to store and exchange assets using several leading cryptocurrencies. Funds are stored securely in this decentralized wallet, and not controlled in any way by exchanges.

What makes the OTN Wallet unique is the fact that users can transfer assets between various blockchain networks without the need for additional registrations. There are also no third-parties or commissions involved. The OTN Wallet allows users to perform transactions, but the actual funds are stored on the OTN exchange.

OTN Exchange
The Open Trading Network exchange is a cryptocurrency platform that delivers speedy transactions via centralized engines. As well as hosting all the leading cryptocurrencies on the market today, the network deals in options, CFD contracts and futures.

Mining on the OTN Exchange

Users who wish to mine OTN tokensOpens a new window need to trade cryptocurrencies, binary options and various other financial instruments on the IQ Option online trading platform. Right now, this is the only way to mine on the network. All transactions made on the platform are subject to commission, which is calculated according to the total number of OTN tokens allocated.

What Makes the OTN Different?

Mining and general access to the OTN have been designed to make the system relatively easy to master for novices. There are several specific benefits associated with the platformOpens a new window that aren’t as prevalent on others.

Tokenization Is Efficient
Just about any type of asset can be tokenized for distribution among OTN users. Whether it’s a digital or conventional asset, transactions are designed for efficiency.

Guaranteed Transactions
Users are able to make cross-chain transactions safely and securely. For example, it is possible for Ethereum to be exchanged for Bitcoin with a guarantee provided by the OTN.

There is a guarantee of transaction fulfillment between individual users and the many blockchains included in the OTN. This guarantee is delivered by smart contract functionality.

Speedy Transactions
OTN benefits from an optimized quorum and modularized architecture — ensuring maximum transaction speed and integration for all transactions.

Groundbreaking Design
The OTN.x node is the glue that binds the OTN together. Together with the Tokenizer and the Depository, it is meant to deliver a fast, secure and seamless user experience across different blockchains. And because of the modular design, OTN will be able to adapt to new features and third-party upgrades.

A Few Facts About OTN

The first OTN tokens were issued in October 2017, and there are plans to issue more every Monday for the first two years of the platform’s existence. The tokens are constructed according to Ethereum’s ERC20 standard.

There will be a total of 100 million OTN tokens, of which 42 million are to be assigned to users of the OTN platform. Half of that 21 million will go to IQ Option traders, 16 million will be assigned to existing token owners, and five million are to go to users of the OTN Wallet.

Of the remaining tokens, 28 million will be assigned to members of the OTN team and shareholders. Thirty million tokens are being kept aside to be used by the OTN Foundation for future initiatives and incentives. Already, OTN tokens are trading on

The primary aim of OTN is to link all the main blockchains together. This decentralized exchange is an exciting prospect — time will tell if it can deliver.