Oduwa (OWC)

From WikiAlpha
Jump to: navigation, search
Oduwacoin (OWC)
Traded as OWC
Industry Cryptocurrency
Founder(s) Bright Enabulele
Area served worldwide
Key people Charles Anchang
James Cunningham
Haseem Sultan
Michael Venon
Dr Nelson Aluya
Website https://oduwacoin.io/

Oduwa (OWC) is a digital payment ecosystem that is built on the foundation of a hybrid POW/POS algorithm. It uses peer-to-peer technology to settle all its transactions within the network. It is the first indigenous Pure-PoS Cryptocurrency designed to empower people of African descent.[1]

Background

Oduwacoin is a revolutionary digital payment ecosystem and the fintech solution to Africa’s financial trouble. Oduwa originated from the ancient Benin kingdom, meaning – The Road Map to wealth: Your money should work for you and not against you. These are symbols of kingdom power through trade.[2] Founder, Bright Enabulele has been in cryptocurrency space for over ten years and understands the solutions that blockchain technology can bring to the underserved communities, especially in the region of Africa and the unbanked communities around the world. Using peer to peer technology to settle all of its transactions within the network, Oduwacoin is a free open source project derived from collaborative blockchain frameworks that overcome some of the pitfalls of Bitcoin. Oduwacoin is the gateway to underserved communities around the world. Oduwacoin provides all OWC users with the possibility to protect their assets against future volatility. At a time where cash is discouraged, empowering the underserved communities throughout the world is more important than ever before.

Overview

Oduwa was built on the foundation of hybrid blockchain POW/POS, innovations such as proof-of-stake help further advance the field of crypto-currency. It is a free open source project derived from collaborative blockchain Mirror of Bitcoin, PPCoin, and Novacoin (NVC) with the goal of providing a long-term energy-efficient script-based crypto-currency.[1] Oduwacoin is boosting nearly no-cost transaction fees for all its users and creating future asset protection solutions against trade volatility. This coin is a cryptocurrency that is meant for payments, trading, and crowdfunding. [3] [4] Oduwacoin is the NextGen alternative to Bitcoin, a cryptocurrency network that allows anyone to transfer digital cash to family, friends, and vendors from anywhere to everywhere around the world with no fees.

Features

The Oduwacoin is a unique cryptocurrency because of certain features it possesses. Apart from its fundamental features like the Oduwa Encrypt, Oduwa Asset Protection, and Oduwa Exchange. It has other features like the peer-to-peer platform, a decentralized Blockchain, anonymity and security, privacy and confidentiality, easy money transfer and anonymity of transactions and portability using integrated mobile software.

Team

Bright Enabulele: is a seasoned blockchain strategist, and investor who decided to open the door for folks with little capital to participate in gaining wealth. He is also the founding member of Oduwa Blockchain Solutions Ltd. Other team members includes Charles Anchang, James Cunningham and Haseem Sultan.

How it Works

How Oduwa Asset Protection Works? The users can make deposits risk free on the Oduwa wallet when buying the cryptocurrency. Oduwa covers the depreciation values at the end of the contract so that users have zero risks to move your cryptocurrency to the Oduwa wallet. They make a profit only when users win, which is determine by appreciation of assets or cryptocurrencies at the end of the contractual period. They absorb 100% risk when users' assets depreciate on an agreed term. The methodology is quite simple and the option may be enabled or disabled in the Insurance platform or Exchange Platform. Oduwa allows cryptocurrency holders and participants to share the associated investment risks, an investor can sign up and choose packages according to the value they want to insure. [18] The protection terms include information about the asset type, duration, risk level and other parameters. All trade events are monitored, and corresponding data is fed into the smart contract by an oracle. Each insurance smart contract will have one or more oracles associated with it. The policyholder minimizes the risk of loss by creating asset protection policies on the platform for their crypto currency. Oduwa wallet will act as a gateway for most cryptocurrencies on the market today. Upon making payment, a smart contract linked to the policy will be generated. The smart contract will include all insurance conditions and claim information within the previously laid out insurance terms. [18] In the case of a claim, the policyholder will be issued payouts in agreement with the terms of his policy. All the policy statistics including claims history, bond statistics, reports, and charts will be available to the contract holders and participants on the Oduwa asset platform.[3] There is no premium as they charge a percentage from the appreciated asset when user win, making it risk-free to invest in Oduwacoin.

Services

OduwaEx

The Oduwa team developed a solution within its blockchain called OduwaEx (Oduwa Exchange) to manage loss. OduwaEx is a Nextgen cryptocurrency Exchange Platform designed to mitigate risk and act as an extra layer of protection for crypto traders against volatility for a contractual period. [4] The OduwaEx platform is designed to reduce volatility in the crypto market. Through this, traders on the exchange have peace of mind while making their trades on the platform. [16] The OduwaEx platform also features asset protection mechanisms. This is the first blockchain-based Trading Platform solution that will minimize risk against devaluation for its users when trading selected cryptocurrencies. Once the asset protection feature is initiated, a smart contract is been deployed at the time of purchase of the crypto asset to provide a stop loss and take gain for a specified period. [16] Oduwa’s experts are in charge of selecting the list of assets to be insured. These experts in collaboration with the platform’s machine learning algorithms also help with the best cryptocurrencies to invest in and when they should be invested in. [16]

Oduwa encrypt

The Oduwacoin network has is own encryption application — Oduwa encrypt. The Oduwa encrypt is basically a multi-platform solution designed to allows its users to connect and make VoIP calls using any device (desktop or Android SIP, Zoiper, 3CXPhone, X-Lite and more), and gain access to their PBX via popular messaging apps such as Telegram and Facebook Messenger. [3] The Oduwacoin has taken all necessary measures to counter two of the most important threats faced by traders in the cryptocurrency market: Security Threat, and Volatility. This is steadily making the coin a preferred method to connect with the crypto market.[1]

Oduwa Wallet

The Oduwa Encrypted wallet is a digital wallet with protection from wallet-stealing viruses and trojans. Through the wallet, users can view all their transactions and account balance. While using the Oduwa wallet, a smart contract linked to the wallet will be generated for each transaction. All the insurance conditions concerning the transaction will be included in the smart contract, and it will also collect all information found in the previously laid-out insurance terms.

Oduwacoin (OWC)

Oduwacoin is digital cash, virtual money that uses peer to peer technology to settle all its transactions within the network. Oduwacoin is a free open source project derived from collaborative blockchain technology with the goal of providing a long-term energyefficient script-based cryptocurrency.

Token Allocation

  • Coin type: Cryptocurrency POW/PoS
  • Hard Cap: 21,000,000 MAX Supply
  • PRE-MINED: 70% Total Supply

MINEABLE 30% Reward Supply - PoS

21,000,000 OWC is the max supply and the emission of the coin was based on the Oduwa platform. The funds distributed through sales was used for various purposes

  • Sales - 85%
  • Funds for development team for further developing, maintenance and ensure that the Oduwacoin platform is compliant and flourishes across the globe. Also for marketing to gain awareness about the platform and gaining more and more users - 10%
  • Promoter Expense and running cost for the Administrators - 3%
  • Bounty Programs - 2%

References