Cryptocurrency News

OpenNode Rejects Roger Ver’s $1.25m Fund Offer


OpenNode is a startup which has developed a blockchain powered payment platform which can help to deal in Bitcoins and connect the world to the technology.

Roger Ver, a 39 years old Bitcoin investor had proposed an investment of $1.5 million in OpenNode, but OpenNode has rejected it.

OpenNode said that it has a confident and robust vision of creating a better and more open financial platform and program which Bitcoin Cash has not been able to achieve, so far. The company also said that it would not hesitate to invest 100% of its fundings and capital resources on Bitcoin and payment solutions.

OpenNode is working hard towards creating a platform which can supports Bitcoin transactions in real-time. This feature would accelerate the acceptance of digital currency in payment transactions among small ventures and businesses.

OpenNode is in support of the Lightning Network. The Lightning Network is a payment set up which was created to assure safe Bitcoin transactions away from the main chain. This helped OpenNode to raise a fund of $1.5 million from an investor named Tim Draper, through seed funding.

Roger Ver tried to bit the bid offered by Tim Draper but got rejected.  Roger Ver is of the opinion that the Lightning Network would not be able to provide the right solution to deal with and resolve scalability issues of Bitcoin.

Roger Ver assured OpenNode that he is ready to invest $1.5 million into its project, provided the company is accepting Bitcoin Cash, as its single payment protocol over Bitcoin.

He said the company has to work a bit more on Bitcoin Cash. Bitcoin Cash is created to become the money of the world. It is scalable enough to pull up all the transactions.

Roger Ver has predicted that it would require around 200 years for the world to get ready for the Lightning Network solution. However, in the case of Bitcoin Cash, the world would have to wait just for 50 years.

The experts and crypto users reacted to Roger Ver’s claims against Bitcoin. They said he is molding the maths and fats as per his convenience and propaganda.

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