The transition from Web 2 to Web 3 aims to create a decentralized, user-centric, and interoperable web. This new web aims to give users more control over their data and privacy and a more efficient user experience. Web 3 addresses challenges of the current web, such as data privacy and security and the control of a few large tech companies. This movement just took a massive leap forward.
ORE Token goes Live on MEXC
The decentralized space became much more accessible for everyday users with the recent listing of the Open Rights Exchange’s (ORE) ORE Token on MEXC Global. The ORE Token is now publicly available for trading on one of the leading centralized exchange platforms in the world, catering to over 10 million users across 170 countries.
The ORE Token is the digital asset powering the ORE Network, which aims to bridge the gap between Web 2.0 and Web 3.0 identity solutions. The listing on MEXC Global is an essential step towards broader adoption of the ORE Network, which provides users with an easy-to-use Single Sign-on (SSO) and universal wallet solution.
ORE ID, the flagship product of the ORE Network, integrates with leading businesses and decentralized applications (dApps) and is currently being used in 12 countries. To reach millions of users by the end of 2023, the integration of the ORE Token on MEXC Global is a significant milestone for the ORE Network.
The ORE Token operates as a digital asset for identity and data storage on the ORE Network. Whenever a business creates an account on the network, it must purchase ORE Tokens, like how one would rent server space in the cloud.
Marc Blinder, ORE Network Core Contributor, notes the significance of the ORE Token’s listing, “Our cross-chain identity solution, ORE Network, is poised to drive mass adoption of Web 3 with its simple one-click solution. Even amidst the current crypto bear market, this is an opportunity for developers to focus on building new products without being swayed by market fluctuations.”
Looking At The Road Ahead
The ORE Network has been steadily growing its features and offerings, with the release of ORE Vault, a crypto and NFT multi-signature wallet for businesses, in 2022. The ORE Token is also available on leading exchanges such as PancakeSwap, Uniswap, Quickswap, and Bitmart, with a Liquidity Mining Pool offering a 32% annual percentage yield for community members.
In addition to the MEXC Global listing, the ORE Network recently raised $10 million in a Series A funding round led by Morgan Creek Digital and supported by the Avalanche Fund. These funds and several others also purchased ORE Tokens, highlighting the increasing confidence in the ORE Network’s future potential.
The Open Rights Exchange was built by the Open Rights Foundation in partnership with AIKON and is designed to be compatible with all chains. With its focus on simplicity, users only need to remember one password to access the Open Rights Exchange and multiple other chains. The ORE Token’s listing on MEXC Global is a big step towards making decentralized solutions more accessible to a wider audience, and with its focus on ease of use and compatibility, the ORE Network has the potential to drive significant adoption of Web 3.0.
Rocco Strydom is the Founder of SGM Holdings – finance, energy and media and is the host of the
SGM podcast based in South Africa