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OPEN announces partnership with Danhua Capital [DHVC]

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OPEN announces partnership with Danhua Capital [DHVC]
Source: Open Platform

The OPEN team is thrilled to announce Danhua Capital, also known as DHVC, as one of their latest investors and strategic partners. Danhua Capital is an early stage VC fund with more than $700MM in capital focused on investing in projects and technologies that have the potential to disrupt the world.

While it invests across all sectors, their blockchain portfolio is especially impressive as they were early investors in projects like NEO, Aelf, Zilliqa, and Ontology – just to name a few. All of these groundbreaking projects have had valuations of over a $1 Billion.

For this reason, their support for OPEN’s vision of bringing cryptocurrency to the mainstream by empowering application developers is especially relevant. Danhua recognized OPEN’s ability to assist developers in integrating multiple blockchains into their core technology stacks without the need for learning chain specific languages such as Solidity as a groundbreaking innovation.

Danhua has a history of backing hyper-successful projects. In fact, over 10 portfolio companies of Danhua Capital have been able to achieve the coveted $1 + Billion valuation mark. OPEN is honored to be a part of such an incredible portfolio and to have the leaders of Danhua Capital see the same potential in OPEN’s vision.

OPEN envisions a world where all applications accept cryptocurrencies as easily as they do fiat currencies. Applications of the future will not entirely be on the blockchain, nor will they entirely live in centralized servers. The truth lies in the middle, with the blockchain serving as a kernel to do things that it’s technology is uniquely suited to do, such as payments, asset issuance, transparency, and auditability, and letting centralized databases handle computation.

In order to do so, the blockchain part of an application must be able to seamlessly speak with other parts of the application.

That is the core of what OPEN does – they enable different types of data, some represented in decentralized networks and others in centralized ones, communicate with each other.

OPEN starts with payments as it is logical that liquid, digital currency be used to purchase liquid, digital assets. This first step enables cryptocurrencies to function equivalent to normal currencies. The key components that OPEN uses are a set of off-chain APIs and Developer tools that abstract away the difficulties of blockchain technologies, interoperable on-chain Scaffolds that are deployed to each of the blockchains in our ecosystem, our own high throughput OPEN Chain, and an innovative Blockchain Load Balancing Protocol.

The Danhua team recognizes the potential OPEN has to bring mainstream adoption to the blockchain space by building an API connected to a scalable and interoperable blockchain network that makes it incredibly easy for developers to integrate the blockchain into their applications.

With offices both in Shanghai and Silicon Valley, they have been able to see, firsthand, the power of the API economy that has transformed the technology landscape over the past few years.

APIs have the unique ability to simplify a complicated technology into an easily accessible tool for the developer, thereby enabling the adoption of otherwise hard to integrate technologies. APIs have helped big software companies, like Uber and Netflix, to vastly improve their product offering and have helped propel them to becoming incredibly successful companies.

OPEN is providing its API services to make blockchain integration painless for developers – thus enabling mainstream adoption of decentralized technologies, and bringing the massively successful API economy to the blockchain industry. The world is currently populated by millions of centralized applications that are eagerly awaiting a secure, easy-to-implement and scalable solution. This solution is OPEN.

OPEN brings tremendous value to Danhua’s already phenomenal portfolio by providing an essential infrastructure that other portfolio companies can leverage to grow their existing businesses.

OPEN also has several industry leaders in the blockchain space backing it, including RChain’s Reflective Ventures, NEO’s Neo Global Capital, Draper Dragon, Sora Ventures, Element Group, One Block, Jeremy Gardner, and more!

With the top public blockchain projects in both Asia and the U.S. backing it, as well as investments from leading crypto funds and individuals, OPEN is quickly emerging as one of the most promising projects of 2018.

To know more about OPEN, click here!




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Altcoins

Tron [TRX] energy cost to be reduced from 20 sun to 10 sun

Priya

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Tron [TRX] energy cost to be reduced from 20 sun to 10 sun
Source: Unsplash

The whole cryptocurrency market has been witnessing a steep downward trend for the past couple of weeks. Even the major cryptocurrency like Bitcoin [BTC], Ethereum [ETH] and XRP, have lost the battle against the ice king. This negative trend has broken down most of the new projects in the market, especially the investors’ sentiments. There are also a few projects and team that are finding it hard to continue their operations because of the bear’s ever-growing presence.

Despite this, Tron [TRX], the tenth-largest cryptocurrency by market cap, continues to make advancements in terms of network development. Justin Sun, the founder and CEO of Tron Foundation presented the second proposal, Proposal 9, has been approved by 2/3rd of the governing body. The proposal is aimed at making the network a developer friendly environment by reducing the energy cost from 20 sun to 10 sun, which, in turn, reduces the cost of smart contact.

Justin Sun's tweet on the proposal | Source: Twitter

Justin Sun’s tweet on the proposal | Source: Twitter

At the time of writing, the proposal had received 22 approvals and no disapprovals. The representatives who voted for the proposal includes Justin Sun Tron, Tron Society, BitGuild, Tron One, Lianjinshu, uTorrent, Crypto Guy in ZA, Infinity Stones, Alle Exchange, Tron Alliance, TronWalletMe, Raybo Tron, BitTorrent, Blockchain Org, CryptoChain, Sesameseed, callmeSR, DApp House, Tron Spark, TRX Market, Sky people, and Tron Europe.

The first proposal of the month was related to maximizing the energy limit of the network, which was also aimed at supporting the developers of the ecosystem. The proposal was approved by all 28 Super Representatives of the network. Super Representative are the representatives of the community and validators of the node who are elected by the token holders. These representatives are given the power to vote for the activation of the features of the Tron Virtual Machine, with the focus on the betterment of the entire community.

Earlier today, the CEO of the Foundation spoke about how Tron surpassed Stellar Lumens, the fourth largest cryptocurrency by market cap. He said on Twitter:

“According to @CoinMarketCap, there are 159 trading pairs of #TRON which already surpassed 157 trading pairs of Stellar. #TRX was already listed on more than 100 exchanges, including Crypto/Crypto & Crypto/ Fiat trading pairs”


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Analysis

XRP/USD Technical Analysis: Sideways movement to end as breakout imminent

Priyamvada Singh

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XRP/USD Technical Analysis: Sideways movement to end as breakout imminent
Source: Pixabay

As the cryptocurrency market switches their allegiance between the bull and the bear, XRP is painted red at the moment. The token is slumped by more than a percent wherein the coin is trading at $0.3 with the market cap of $12.4 billion. The 24-hour trading volume is calculated at $305.8 million.

1-hour

XRP 1-hour candlesticks | Source: tradingview

XRP 1-hour candlesticks | Source: tradingview

In the 1-hour price chart, the downtrend is ranging from $0.315 to $0.311 whereas the uptrend is extending from $0.301 to $0.308. A clear possibility of a trend breakout is visible as the prices are packed tightly, ready to explode in either direction.

The Parabolic SAR is bullish on the cryptocurrency as the dots have assembled themselves below the candles to support the bull.

The Aroon indicator is showing a greater strength in the downtrend, which is a bearish sign for XRP. However, it can be observed that the red trend is losing its power and crashing.

The Awesome Oscillator is slightly bullish on the coin as the bars have turned green at present.

1-day:

XRP 1-day candlesticks | Source: tradingview

XRP 1-day candlesticks | Source: tradingview

In the 1-day timeline, the downtrend is stretching from $0.51 to $0.31 whereas the uptrend has been observed from $0.27 to $0.3. A trend breakout is not visible as of now.

The Klinger Oscillator has made a bullish crossover by the signal line. This indicates that the reading line is traveling in favor of a green trend.

The RSI is extremely bearish on the cryptocurrency as the indicator has crashed to the bottom of the graph. A trend reversal is not expected as well, as the reading has not hit the oversold zone.

Conclusion:

In this technical analysis, it is clear that the indicators are giving a mixed sign, advocating for a sideways trend. However, since a trend breakout is predicted in the shorter timeframe, a bullish win might take over the price chart.


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