Press Release

ORC, The Dark Horse in OPEN Eco-Layout

Published

3 years ago

January 22, 2021

Scientific innovations are the driving force for times transformation. Following steam engines, electricity and computer, Blockchain has brought a new revolution to technology and industry of this era.

When it comes to the currently most-talked-about blockchain technology, the decentralized finance (DEFI) deserves a special mention.

As of June 2020, the daily value locked in DEFI has broken the record, now standing at 27.3 billion dollars. It has been nibbling away at the trillion-dollar digital currency market, growing continuously into a giant.

DEFI presents huge market dividends, attracting many industry pioneers to grasp the preemptive opportunities for participation.

OPEN – Bring a wider range of assets to DeFi

OPEN is right among them. OPEN Foundation has started the overall layout of DEFI industry since 2019. After prudent and comprehensive considerations, OPEN chose OnlyChain.

Based on its analysis of OC’s position ratio via its digital asset management company with BTC Grayscale as a benchmark, OPEN has long appreciated OC and set mind to build DEFI ecology on OC system.

Open Finance is a basket of open finance and currency protocol applications developed by OPEN Foundation on OC. Through the protocol matrix with strong composability, it aims to realize a huge financial machine that can run and evolve by itself to replace the current economic operating mode and become a decentralized full-domain world bank.

OPEN is the first team to propose and practice protocol matrix concept in the industry. Its mature and supporting DEFI infrastructure provides one-stop decentralized financial solutions for global users and a unified liquidity space to serve open finance of the future.

Open Swap – Decentralized Exchange

Asset trading and clearing are important parts of traditional economic activities. It is Open Swap that assumes the above responsibilities in the OPEN system.

Open Swap delivers one-stop on-chain trading services for users based on its three core technologies and 20000+ TPS. The transfer speed speaks for itself. Also, the underlying operating system of OC does make Open Swap extremely competitive in processing large and low-frequency transactions, providing users with smooth on-chain trading experiences.

Open Lend – Hybrid Lending Market

Open Lend benchmarked against the lending and financial derivative issuance in the traditional economic activities can automatically calculate interest rates based on supply-demand change.

This benefits borrowers and lenders, making up for the opportunity cost of holding assets in an open financial network and getting rid of the fixed interests from the traditional financial market.

Open Stable – Asset Protocol Aggregation Platform

Open Stable is the center part of OPEN, allowing users to generate the stable assets OUSD (i.e. stablecoin asset protocol) from the secured assets.

OUSD is encrypted assets softly pegged to US dollars as asset collateral. It provides excess backed assets for users so as to effectively withstand vicious inflation.

And thanks to the technical advantages of OC, Open Stable enjoys high-speed asset transfer and delivery.

Open Link Oracle

OpenLink is the first distributed oracle on OC.

It is a vehicle that captures the value of Open Finance and OnlyChain ecosystem. It has defined and realized a new on-chain price generation and digital value capture plan to fix interoperability issues for the smart contract, which significantly enables it to be applied in finance, insurance, supply chain and many other industries.

Since all full eco-applications in OPEN financial system are built on OC, the above applications are exclusively confined to it. However, there exists a shortage in asset diversity on OC. So, how to achieve OC’s interoperability with other blockchains to expand the Open financial ecosystem?

ORC – An ultimate solution to blockchain interoperability.

Open Reactor

Open Reactor – Cross-chain protocol

Open Reactor (ORC) is the first decentralized cross-chain solution on OC system and also the exclusive cross-chain protocol in OPEN system. It serves as a window for financial data and value exchange with external blockchains.

The core mechanism of ORC cross-chain solution is OrcVM, through which users can use BTC and ETH to generate OBTC and OETH on OnlyChain at 1:1 if asset security is guaranteed. Owing to the high-performance blockchain network of OC, users enjoy extremely low handling fees and high transaction speed.

ORC also allows users to transfer digital assets from OC system to other blockchain networks so that on-chain assets can be freely flowed, interacted and aggregated between different blockchains, thus bringing the entire cryptocurrency market back to its root.

The ORC cross-chain solution can be applied to any sub-application in OPEN system. That’s to say, in the years to come, ORC will be the exclusive channel for OPEN sub-protocol to expand its use scope and interact with other public chains. Its importance is beyond any doubt!

The financial sector is a pioneer in exploring the application of blockchain technology, with different institutions having varied blockchain-based layouts and applications. But there also exist some urgent problems of fragmentation.

ORC can realize asset, information and trade interconnectivity and collaboration between different blockchains, which provides broader imagination space for Blockchain’s further application in the financial sector.

ORC Value Analysis

Provide OPEN with a variety of practical cross-chain assets to make sub-protocol matrix connected.

OBTC and other cross-chain assets acting as a cohesive layer will run throughout the entire open financial ecology to make closer interactions between various sub-protocols, thus achieving a huge and autonomous DEFI ecosystem.

Integrate value of BTC and other mainstream digital assets into OC system for OC value expansion.

Relying on the digital token of Open Reactor, ORC will bring the value of Bitcoin and Ethereum into OC network so that asset liquidity of more public chains can be locked into it.

Offer an interactive channel between various OPEN applications and other public chains to expand the ecological layout.

ORC allows users to generate OBTC with BTC. These cross-chain assets can be uses as trade varieties, lending products and synthetic asset reserve resources between Open Swap, Open Lend and OpenStable, which immensely diversify assets in OPEN and promote their operation and deployment on the whole ecosystem.

Address problems existing in information interaction, asset transfer and business collaboration between the independent public chains and consortium chains of different industries, like banking, securities, insurance and real estate.

ORC can realize the asset, information and trade interconnectivity and collaboration between different blockchains, which provides broader imagination space for Blockchain’s further application in the financial sector.

Push ahead with the rapid establishment of global financial integration or regional economic integration.

Cross-chain enables value to flow between different blockchains. During this process, users, data and scenarios can be well linked to finally build a larger value ecosystem. If cross-chain technology grows into maturity, blockchain in the future will become infrastructures like today’s highways, water and electricity supplies. This will greatly facilitate the free flow of value and promote global financial integration.

Conclusion

If OPEN is a new self-evolving and self-sustaining decentralized financial empire, ORC cross-chain solution will be its “reform and opening-up policy.” Only by embracing a bigger external world can we accelerate the rapid and stable development of ecology and build a “sun-never-set empire.”

About us

https://www.openfin.network/#/

About Author

Alex Jacob

Alex Jacob is a literature author. He was born in Chicago. Alex passion is writing news articles. He writes number of articles and published it.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

Press Release

Baxia Markets Empowers Traders: Expands Trading Opportunities

Published

14 mins ago

September 28, 2023

Cloud PR Wire

Mahe, Seychelles, September 28, 2023 – (SeaPRwire) – Baxia Markets, a pioneering online trading platform known for its innovative approach to forex and CFD trading, unveils expansion of its services to provide traders with an even broader array of trading opportunities. The company is rolling out 2000:1 leverage to additional countries, increasing its instrument offerings, providing weekend trading options, and expanding its enriched suite of educational resources.

Nash Wadud, CEO of Baxia Markets, underscores the significance of these developments, stating, “Today’s traders seek flexibility, an extensive range of options, and educational support that empowers them to make informed trading decisions. At Baxia Markets, our commitment is to deliver all this and more.”

High Leverage 2000:1 Reaches New Territories

Recognizing the power of leverage for traders, Baxia Markets has extended its exceptional 2000:1 leverage ratio to several new countries. This strategic move allows more traders to open larger positions with a modest initial deposit, thereby amplifying their potential returns. “Our 2000:1 leverage offering in other markets was met with phenomenal success. We’re thrilled to expand this feature to new countries,” states Nash Wadud.

Expanded Instrument Diversity and Weekend Trading

Baxia Markets now offers an enhanced array of trading instruments, enabling traders to diversify their portfolios like never before. In addition to traditional pairs, traders can now explore new opportunities in forex, commodities, indices, and cryptocurrencies.

Furthermore, the company recognizes traders’ needs are evolving and introduced weekend trading options, granting them expanded access to markets at their convenience. Hannah Rivera, Chief Operating Officer of Baxia Markets, elaborates, “Traders demand market accessibility on their terms, which is why we are pleased to introduce weekend trading options for the first time.”

Investment in Robust Educational Resources

Baxia Markets firmly believes that an educated trader is a successful trader. As a testament to client success, the company is proudly rolling out an extensive suite of educational resources, including webinar, guides, and a specialized MetaTrader 5 educational series. The MT5 series is set to help traders capitalize on the rich features of the renowned trading platform. Rachael Williams, Head of Customer Experience at Baxia Markets, emphasizes Baxia’s commitment, stating, “We are investing in educational content that not only covers the fundamentals but also delves deep into advanced trading strategies and platform functionalities.”

Regulation and Licensing

Baxia Markets operates within a stringent regulatory framework, prioritizing the security and transparency of its clients. The company holds licenses from reputable regulatory authorities, including the Financial Services Authority of Seychelles and The Securities Commission of The Bahamas (SCB).

Financial Commission Partnership

Baxia Markets is affiliated with the Financial Commission, an independent organization offering dispute resolution services to traders and brokers. This partnership reflects Baxia Markets’ commitment to upholding ethical standards and fostering trust within the trading community.

TrustPilot Rating

Baxia Markets has received an Excellent TrustPilot rating of 4.8*, demonstrating the company’s dedication to client satisfaction and trustworthiness. Known for its reliability and customer support, Baxia Markets is a preferred choice for traders in search of a dependable trading platform.

These enhancements underline Baxia Markets’ commitment to providing traders worldwide with outstanding opportunities while adhering to regulatory compliance and prioritizing customer satisfaction. For additional information about these developments and to explore the world of online trading, you can visit BaxiaMarkets.com.

About Baxia Markets:

Baxia Markets is a leading online trading platform renowned for its commitment to innovation, regulation, and client success. With a mission to empower traders with an array of opportunities and educational resources, Baxia Markets has established itself as a trusted partner for traders worldwide. The platform offers a diverse range of trading instruments, cutting-edge technology, and a dedicated team of experts to assist traders at every step of their journey. Discover the future of online trading at www.baxiamarkets.com.

Media Contact

Company: Baxia Markets

Contact: Rachael Williams

Telephone: +248 4373509

Email: [email protected]

Website: https://baxiamarkets.com/

SOURCE: Baxia Markets

The article is provided by a third-party content provider. SeaPRwire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SeaPRwire.com

Sectors: Top Story, Daily News

SeaPRwire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)

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Press Release

Justin Sun Prioritizes Security: User Assets Are Sacred and Inviolable

Published

44 mins ago

September 28, 2023

Cloud PR Wire

–News Direct–

Justin Sun, a member of the HTX Global Advisory Board, participated in a live broadcast titled "Talk to Justin Sun about Crypto Safety Issues'' on September 26. This live interview was conducted simultaneously on HTX's (previously Huobi) Twitter Space and HTX Live. Justin Sun shared his insights on security concerns related to cryptocurrency exchanges and responded to the recent security incident at HTX.

To start, Justin Sun gave a brief recap of the recent cyberattack on HTX. On September 24, 2023, at around 6 PM Singapore time, HTX detected a hack and took immediate actions, which included rapidly changing the hot wallet address, implementing the real-time monitoring mechanism, and establishing the SAFU fund. Through these efforts, the exchange has ensured the protection of user assets and information. HTX, as emphasized by Justin Sun, managed to promptly resolve almost all issues within 24 hours following the attack. Users remained largely unaware of the incident, but it was indeed an intense battle.

According to reports, HTX has fully covered the losses, ensuring that users will not incur any losses due to this incident. The platform is operating normally, and all user assets remain unaffected. Moreover, HTX has labeled the hacker's ETH addresses and proposed a 5% white-hat incentive ($400,000) to encourage the hacker to return the stolen funds. If the hacker returns the funds within 7 days, HTX will offer them a position as a security consultant for the exchange. Otherwise, HTX will provide the information to the authorities for the hacker's prosecution.

Additionally, HTX is collaborating with professional security teams, blockchain institutions, and top-notch exchanges like Binance to trace the hacker's identity and the whereabouts of the stolen funds. While the exchange cannot disclose the specifics of the ongoing investigation, it is committed to ensuring that the hacker faces the full legal consequences they deserve if they do not return the stolen funds.

Justin Sun stated, "We encourage white hat ethical hacking and are confident in our ability to recover the funds. HTX has a proven track record of collaborating with authorities to apprehend hackers and will not tolerate any hacking activities. Even if users not affiliated with HTX have had their assets compromised, we will initiate charitable efforts to assist them in recovering their losses."

Summarizing the discussion, Justin Sun underscored the costliness of the security lesson learned and the commitment to excel in this domain. He emphasized that the recent hack was a valuable experience for him and his team, prompting HTX to reassess and enhance its security.

HTX will take concrete steps to ensure that user assets on the platform remain at the forefront of industry standards. HTX will introduce more security tools and technologies for the timely detection and prevention of potential threats in the future. Collaboration with leading security audit firms for regular audits and swift issue resolution is another facet of their strategy. Lastly, additional security updates, including updates to custodians or institutions, will be implemented.

Considering the multiple security incidents that have occurred in the cryptocurrency industry, Sun remarked, "Past experiences have taught us that security is an ongoing race, where we must continually adopt measures to ensure the security of user assets and fortify our security defense."

Addressing community doubts regarding the incident being a marketing stunt orchestrated by HTX, Justin Sun categorically dismissed such claims. He affirmed that while HTX has previously hosted attention-grabbing marketing events, the platform's unwavering commitment to security and the sanctity of user assets means they will never exploit a security incident as a marketing ploy.

Sun continued to reiterate the importance of security throughout the live stream, emphasizing, "Security is an eternal concern, and we will always prioritize the safety of user assets."

About HTX

Founded in 2013, HTX has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investment, incubation and other areas. HTX serves millions of users worldwide, with a business presence covering over 160 countries and regions across five continents. Its three development strategies – "global development, technology drives development, and technology for good" underpin its commitment to providing comprehensive services and values to global cryptocurrency enthusiasts.

Contact Details

Michael Wang

[email protected]

Company Website

https://www.htx.com/

View source version on newsdirect.com: https://newsdirect.com/news/justin-sun-prioritizes-security-user-assets-are-sacred-and-inviolable-542495353

HTX

COMTEX_441113912/2655/2023-09-28T00:22:38

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Press Release

MYBUNDLE AND TASTEMADE ANNOUNCE COMPREHENSIVE TASTEMADE+ DISTRIBUTION AGREEMENT

Published

59 mins ago

September 28, 2023

Cloud PR Wire

–News Direct–

MyBundle, the premier online platform connecting consumers, streaming services, and broadband providers with tools to simplify streaming television, and Tastemade, a modern media company with award-winning video content and original programming in the categories of Food, Travel, and Home & Design, announced details of a comprehensive agreement between the companies for the distribution of the Tastemade+ premium SVOD service.

MyBundle is making Tastemade+ available to its broadband partner network representing more than 175 broadband providers and comprising more than 10 million customers nationwide. MyBundle will provide billing and customer care for Tastemade+ as part of its growing portfolio of streaming services. The partnership will make it easier for consumers to learn more about the innovative Tastemade+ content and create convenient and affordable bundling opportunities across the MyBundle broadband partner network, driving incremental new Tastemade+ subscriptions. Tastemade+ offers more than 750 hours of streaming content, 12,000 globally-inspired recipes and cooking videos, weekly meal plans, and diverse programming in the categories of Food, Travel, and Home & Design.

The billing integration simplifies the ability to subscribe to Tastemade+ so users may sign up, manage billing and receive customer support directly through the MyBundle platform and its co-branded ISP partner integrations. Customers may find Tastemade+ in the MyBundle Streaming App Marketplace, MyBundle Streaming Choice, and other targeted marketing tactics.

Were very excited about this partnership with MyBundle; with the expedited continuation of cord cutting, MyBundle gives customers an easy and seamless way to cherry pick their favorite channels and create their own streaming package, says Taylor Shwide, Distribution & Partnerships Manager, Tastemade. By tapping into MyBundles current reach, customers will have instant access to hundreds of hours of Tastemades streaming lifestyle programming as well as weekly meal plans, inspiring audiences with fresh ideas, incredible places, and the tools to live their best life.

The MyBundle platform simplifies the discovery and purchase process for consumers of innovative streaming services such as Tastemade+ and we are very pleased to welcome Tastemade as a business partner with this agreement, said MyBundle Co-Founder and CEO, Jason Cohen. MyBundle – and our broadband partner network – provides an invaluable growth opportunity for streaming services looking to reach new customers. As a fast-growing and independent solution in the marketplace, MyBundle is a trusted resource to make streaming easier for consumers and a growth vehicle for innovative streamers such as Tastemade.

MyBundle offers an integrated billing platform and co-branded streaming video tools and services for broadband and multichannel video providers. Sitting at the cross-section of consumers looking to explore and optimize their streaming service subscriptions, broadband providers looking to deliver choice to current and prospective customers and streaming services looking for efficient ways to reach new customers, MyBundle reduces friction and increases satisfaction for the ever-growing and dynamic streaming video ecosystem.

About MyBundle

MyBundle is the industry-leading consumer and enterprise platform simplifying streaming TV. MyBundles free and easy-to-use tools help consumers discover and manage their streaming service subscriptions, watch free live TV, and find content to watch across their services. Incorporating more than 150 streaming services and partnering with more than 175 broadband providers serving more than 10 million customers and growing, the MyBundle platform helps consumers navigate the streaming video world and creates new growth opportunities for programmers and high-speed data distributors alike.

About Tastemade

Tastemade is a modern media company that engages a global audience of more than 300 million monthly viewers on all major digital, mobile, and streaming television platforms, garnering 700 million minutes watched each month. We create award-winning video content and original programming in the categories of Food, Travel, and Home & Design that we share with an engaged, passionate, and global community. Tastemade has won a host of awards and accolades for its innovation and original programming, including three James Beard Awards, two Emmy Awards, and was most recently recognized as one of Fast Companys Most Innovative Companies in 2021. For more information, visit Tastemade at: www.tastemade.com.