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Bridge.link Brings TRON’s First Oracle System, with BW IEO Launching on 15th September

Bitcoin Press Release: The Bridge Oracle IEO launches in just eleven days on September 15th on BW.com, kicking off the introduction of TRON network’s first Oracle System as blockchain smart contracts gear up for mainstream adoption.   8th September 2020, Kuala Lumpur, Malaysia – The TRON protocol is ready to launch its first Oracle System, […]

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Bitcoin Press Release: The Bridge Oracle IEO launches in just eleven days on September 15th on BW.com, kicking off the introduction of TRON network’s first Oracle System as blockchain smart contracts gear up for mainstream adoption.

8th September 2020, Kuala Lumpur, Malaysia – The TRON protocol is ready to launch its first Oracle System, courtesy of Bridge Oracle, taking it one step closer to its ultimate goal of decentralizing the Web.

Solving the Authentic Data Problem

In the early years following Bitcoin’s rise as a cryptographically secure and decentralized form of money, developers and economists turned their attention to the programmability aspect of digital currency.

The idea of using ‘smart contracts’ to do this, most notably by Ethereum, sought to use code to regulate the social interactions that individuals and organizations —  employer and employee, and issuer and receiver, for example — conducted among themselves in the same decentralized manner that blockchain ideals promoted. Trust shifted from people, authorities and organizations, to code, with participants coordinating among themselves.

However, if information sent to smart contracts must be provided by the network itself, the challenge is to apply this to real world scenarios. This is because the information governing smart contracts are controlled by entities who conduct this flow of information from real-world sources to the smart contracts. These are traditionally singular or centralized authorities, whose data can still be easily tampered with. The solution? Oracles that can reconcile this data source with the decentralized and trustless proposition of a smart contract platform like TRON.

Bridge Oracle’s Role in A Shift to Decentralization

For Bridge Oracle, smart contract networks need to be fed objective and accurate data, serving up opportunities for enterprises and even governments to offer Oracle verification services and hyper secure and decentralized oracle networks to regulate information. 

The end result? Trustless smart contracts that establish, govern and execute agreements based on “perfect” data conditions.

Ready for the Real World

Bridge’s Oracle is built for the real world. It is the first ever dedicated public oracle technology on TRON network which is developed to provide the ability of accessing external data for ordinary users’ smart contracts.

There are many real-world demands that are ready to use these smart contract solutions but are not, simply because there is no Oracle solution. Smart contracts would be able to replace, among many other examples:

  1. Payment upon service delivery. For example, if paying a promoter to show content to a fixed number of viewers, the contract can determine accurate data that proves the content has received the required number of legitimate views, then pay out the agreed sum to the promoter. This solves disputes in where marketers have to trust that service buyers will pay out, and service buyers have to trust marketers to deliver legitimate views.
  2. Insurance claims. Using oracles to access IoT data feeds, for example, from a fire tracking system in a building, accurate data on fire and damage can be injected into a smart contract to precisely calculate and pay out compensation to the policy holder.
  3. Shipping and tracking. In the age of online shopping, consumer use of shipping and tracking services has become increasingly demanding. Traditional services suffer from shortcoming such as delayed data, wrong data and missed payments. A smart contract that is fed Oracle-verified data can accurately keep track of delivery, releasing payments to merchants and deliverers.

The Bridge IEO: Backed by Industry Proponents

Bridge Oracle is led by CEO Hakan Estavi, an early investor in blockchain technology. Its key development team includes Keyvan Abedi, a pioneer of DAO, dApp, smart contract and Solidity.

It has already received the backing of institutional investors, and has successfully fundraised through a fully-subscribed private sale. It has attracted the interests of key blockchain advocates in the space, with the likes of Bitcoin.com CEO Mate Tokay, Media heavyweight Sydney Ifergan, TRON stalwart and beta tester extraordinaire Mike McCarthy backing the company as Advisors. This gives the project the very best technical guidance in terms of smart contract feasibility and blockchain advocacy.

To ensure wider access to the masses, Bridge Oracle has decided to open a limited IEO for the Bridge token (BRG) on September 15th, 2020 on the BW.com platform, with confirmed listings on BW.com, Digifinex and Justswap. Additionally, BRG is listed on Klever, TronWallet, and TronLink wallets.

Save the date, 15th September, to take part in the Bridge Oracle IEO and claim your share of the future of smart contracting in the real world.

Learn more about Bridge Oracle advanced DeFi protocol: https://bridge.link/ 

Read the technical whitepaper at: https://bridge.link/Bridge_White_Paper.pdf

Join the official Bridge Oracle Telegram channel: https://t.me/bridge_oracle 

Follow on Twitter – https://twitter.com/bridge_oracle 

Media Contact Info

Contact Name: Hakan Estavi

Contact Email: [email protected]

About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today.

Bridge Oracle is the sole source of this information. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Source: https://bitcoinprbuzz.com/bridge-link-tron-oracle-ieo/Source: https://bitcoinprbuzz.com/bridge-link-tron-oracle-ieo/

Blockchain

Ripple’s remarkable 291% rally in November in jeopardy as the chart prints this critical bearish pattern

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  • Ripple’s recovery hits a barrier at $0.7, giving way to an ongoing retreat.
  • XRP/USD seems poised for a massive breakdown likely to retest support at the 100 SMA.

Ripple soared massively in November, becoming one of the strongest cryptocurrencies in terms of rebound. The flash rise to $0.92 brought to light the possibility of XRP hitting $1 before 2020 ends. Meanwhile, a bearish pattern, forming on the 4-hour chart suggests that the bullish narrative might not hold, at least not for long.

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At the time of writing, XRP/USD is trading at $0.65 amid a developing bearish momentum. Its upside is limited by the seller congestion at $0.7. The Relative Strength Index has started to reflect the ongoing retreat.

It is essential that buyers hold above the immediate support at $0.65 to sustain the uptrend. However, the formation of an ascending wedge pattern on the 4-hour chart hints at a possible reversal.

XRP/USD 4-hour chart

XRP/USD price chart
XRP/USD price chart by Tradingview

Ascending wedge patterns are characterized by dropping buying volume following a lengthy bullish period. One trendline is drawn connecting a series of higher highs while another links a series of higher lows. A breakdown usually occurs before the trendline converge.

Therefore, it critical to proceed with caution when dealing with XRP. Note that Trading under the wedge might trigger massive losses that could overshoot the 50 Simple Moving Average support at $0.6. On the downside, the next tentative support is the 100 SMA at $0.45 (last week’s key anchor zone).

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It is worth mentioning that the bearish notion will lose credibility if the cross-border token holds above $0.65 and perhaps rises above the upper trendline. Price action above $0.7 might also call for more buy orders, in turn, pulling XRP to $1.

XRP intraday levels

Spot rate: $0.65

Relative change: -0.01

Percentage change: -1.5%

Trend: Bearish

Volatility: Low


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Author: John Isige




John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Source: https://coingape.com/ripples-remarkable-291-rally-in-november-in-jeopardy-as-the-chart-prints-this-critical-bearish-pattern/

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Blockchain

Further Declines in Bitcoin Price Possible Though Grayscale is Crucial, Notes JPM Analyst

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Although Bitcoin has recovered from its vigorous price losses during the Thanksgiving massacre, analysts from JPMorgan Chase & Co believe that further declines may still occur.

The strategists pointed out that Grayscale, through its Bitcoin Trust, will play a significant role in future BTC price developments.

Is Bitcoin To Head Further South?

The primary cryptocurrency reached a new yearly high of $19,500 last week; thus, it came less than 3% away from the 2017 all-time high of $20,000. As the community began speculating on how long it will take to surpass that level, the trend reversed viciously.

Bitcoin headed south and lost over $3,000 of value in hours. Nevertheless, the cryptocurrency has recovered most of its losses and trades north of $18,000.

A JPM analysis, led by Nikolaos Panigirtzoglou, recently said that the Thanksgiving price drops had cleared the “previous froth in momentum traders’ positioning.” However, the strategists hinted that Bitcoin could still go lower.

“Momentum traders such as commodity trading advisors and other quantitative funds likely played a big role in the slide by unwinding long Bitcoin futures positions. Momentum traders have room to further propagate” the Bitcoin decline, noted the analysts cited by Bloomberg.

Apart from broaching “momentum traders,” the strategists also discussed various other reasons behind the price developments. Those included the rumors of new regulations proposed by the Trump administration and profit-taking.

Grayscale Is Key

The JPM strategists also highlighted the significant role of Grayscale and its Grayscale Bitcoin Trust on the market. The cryptocurrency manager is the most preferred company for institutional investors to receive exposure to Bitcoin (and other digital assets) without worrying about storing the funds.

This has been exemplified through 2020 as Grayscale has reported back-to-back recording-breaking quarterly results. The assets under management (AUM) have exploded in the past 12 months to over $10 billion. Somewhat expectedly, the Grayscale Bitcoin Trust has the most substantial share.

The analysts asserted that if there’s a decline in the interest towards GBTC, this could damage the narrative that Bitcoin has become a favorite among institutional investors:

“A failure by the Grayscale Bitcoin Trust to receive additional inflows over the coming weeks would also cast doubt to the idea that institutional investors such as family offices have embarked on a trend of embracing Bitcoin as digital gold replacing traditional gold as a long-term investment.”

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Source: https://cryptopotato.com/further-declines-in-bitcoin-price-possible-though-grayscale-is-crucial-notes-jpm-analyst/

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Blockchain

Canaan Sees Over 75% Decline in Net Revenue in Q3 as Bitcoin’s Price Surge

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Chinese Bitcoin mining firm Canaan has recorded a loss in yet another quarter but is showing positive signs of a recovery as share price and market capitalization spikes. Following a disappointing initial public offering (IPO) last year and declining inventory sales, the company has seen the balance of power shift considerably to major competitors MicroBT and Bitmain.

$12.7 Million Loss for Q3 2020

Bitcoin miner maker Canaan has reported a 75.7% year-on-year (YOY) decline in net revenue as part of its Q3 2020 financials published on Nov. 30. In the report, Canaan revealed that its net revenue for the period was $24 million, which also amounts to an 8.5% reduction from the earnings recorded in the previous quarter.

Following the significant drop in quarter-on-quarter (QOQ) net revenue, it is unsurprising to see Canaan post another quarterly net loss in 2020. According to its Q3 2020 financials, the bitcoin mining chip maker recorded a net loss of $12.7 million, compared to a $2.5 million loss in Q2 2020 and $14.3 million in Q3 2019.

Commenting on the firm’s Q3 financial performance, Nangeng Zhang, Canaan’s CEO and Chairman said:

“During the third quarter of 2020, we remained undeterred by the pandemic to strengthen our research and development capabilities, expand our AI business, and execute new business initiatives. By leveraging our enhanced R&D capabilities in the third quarter, we launched our A1246 product series, which continues to lead the industry with its energy efficiency, computing power, and unit cost.”

Canaan Market Cap on the Rise

Net loss aside, Canaan has been recording some positives in the latter part of 2020. Indeed, the company’s market capitalization has more than tripled from $300 million in September to about $900.8 million as of press time.

Canaan’s share price has also been on a tear in recent months, rising over 200% within the same period. With one-third of Q4 remaining, the company’s stock has risen over 170%. Maintaining the current price action could see the Bitcoin miner manufacturer’s stock price challenge its IPO float price of $9, which incidentally is its all-time high share price.

Tweeting on Canaan’s Q3 performance, @WuBlockchain identified rising inventory sales and the release of the company’s A1246 miners are contributing factors to the firm’s recent resurgence.

Canaan was also among a group of Chinese mining hopefuls looking to float IPOs in the last couple of years. However, Canaan’s offerings fell short of the mark, failing to even realize a quarter of the $400 million estimate.

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Source: https://cryptopotato.com/canaan-sees-over-75-decline-in-net-revenue-in-q3-as-bitcoins-price-surge/

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