OPEN Platform: Integrate Any Centralized System With Decentralized Ones With Ease And Speed

Open Platform (OPEN) Information

Blockchain is rapidly being adopted throughout all types of industries worldwide, however the vital link that enables the technology to be easily incorporated into existing systems has yet to hit the mainstream, largely in part because there still isn’t a simple, all-in-one solution that can solve this issue, until now. Enter Open, a new cross platform technology that aims to bridge the gap between blockchain’s decentralized architecture and existing centralized systems that still power the majority of businesses currently in operation.

OPEN Platform offers a way to integrate decentralized payment gateways into an existing payment scheme already used within an application through the comprehensive, yet simple OPEN API, which developers can use to build apps that easily replace centralized functions with decentralized ones.

At the heart OPEN addresses one of the most troublesome hurdles facing blockchain technology; the complex payment processes used for both payment and currency exchange, however, the way in which OPEN is designed to solve this issue, may also be applied to a wide range of other applications that could improve a number of products and services.

Useful DYOR Information About OPEN Platform

Domain: https://www.openfuture.io/

Coin Name: Open Platform (OPEN)

Total Supply: 1,000,000,000

Ico Price: 1 OPEN = 0.0800 USD

Money Raised Through ICO: $30,000,000

White Paper: https://s3.amazonaws.com/openmoney/OPEN+Platform+White+Paper+2018-03-08.pdf

Token Type: ERC20

Technology Behind OPEN

Why is OPEN different from any other blockchain-based payment solution?

Whilst there are a number of blockchain-based technologies that aim to facilitate easier payments and currency exchange, none quite offer the features, and versatility of OPEN.

The system stack is comprised of four main layers;

Applications; can include anything from in-app payments to credentials and land titles

Developer Services; includes compatibility for a number of cryptos on any application payment scheme

OPEN Core; Scaffold generator, Scaffolds and the OPEN_State protocol

OPEN API: the protocol that connects the users existing applications to the OPEN CORE.

In the system the user interacts with the OPEN API, designed to be familiar to developers without prior knowledge regarding blockchain, which in turn connects to the OPEN Core and its versatile features.

This modular approach is one of the main factors that separates OPEN apart from the crowd. Realizing that not all parts of the process need to be decentralized, the team has only implemented blockchain technology to carryout the processes in which it excels. For example, verification processes conducted via a distributed ledger drastically reduce approval times and eliminate backlog, payments can also be conducted directly on chain, removing the need for expensive middleman services and offering a trustless environment where no central figure stands at the top of a hierarchy. On the other hand CPU and data storage is still left to existing systems; currently the more efficient solution.

The modular architecture also means that new DApps developed on the platform, for example a payment gateway, will be fully contained and can easily be switched out as technology advances and mods are required.

The four layers of the ecosystem incorporate several different components, some of which, such as Scaffolds and OPEN_State, that function within the OPEN-Core, introduce new concepts yet to be utilized by competing solutions.

Scaffold

This is a template smart contract that is made by the developer and will include application specific information such as pricing, or number of gems owned within the network. Scaffolds create the OPEN_States utilized by the developer’s application, they are also responsible for transferring payment from the OPEN_State to the developers wallet. Scaffolds can be created then activated when enough OPEN Tokens are staked. These tokens are required for the Scaffold to run, and are returned back to the developer if the Scaffold is deactivated. As such, a Scaffold solution for a payment gateway would require a pricing scheme and access to a pricing oracle to function adequately, as well the developer’s wallet address, but may also include any additional number of variables applicable.

OPEN_State

OPEN_State is data stored on the database and with the user through IFPS. The data is referenced by Scaffolds to determine if the OPEN_State belongs to the user. The data shows what ‘state’ the user currently owns; and this could represent anything from an amount of currency to title deeds.

Scaffold Creator

The Scaffold Creator is the API that creates Scaffolds for developers through a simple API call. It can make Scaffolds using ETH but require OPEN Tokens to activate.

OPENWallet

The OPENWallet is used to store a users cryptocurrency (ETH, BTC etc), as well as any OPEN_States they may have purchased. The GUI is user friendly, and does not require any previous knowledge of blockchain or cryptos.

Developer Wallet

This is used to collect the funds that the users sends to a developer to purchase an OPEN_State. Although OPEN does allow developer to use any wallet, it is advised to use OPENWallet as it features OmiseGO SDK with a built-in decentralized cryptocurrency exchange and useful community support.

OPEN Token

OPEN Token is an ERC20 token that facilitates developers when creating and operating Scaffolds in the OPEN ecosystem.

Conclusion

By employing the use of customizable Scaffolds, and OPEN_States, OPEN provides a modular platform that can be adapted to almost any application. So, whilst the ecosystem provides obvious benefits for building payments gateways, it may also do so for a wide number of other products and services.

Open Platform Social Media Information

Facebook:

URL: https://www.facebook.com/OpenPlatformICO/Likes and followers: 13,962 people like this, 17,913 people follow thisHow Many Posts / Updates In The Last 7 Days: 36 Recent Post

Twitter:

URL: https://twitter.com/OpenPlatformICOFollowers: 29,600How Many Tweets / Retweets In The Last 7 Days: 26 Recent Tweets

Open Platform Telegram

URL: https://t.me/joinchat/FDNbh0M079p5fnfOHFEJawUsers: 52,658 membersTelegram Admins Open Platform:@OPENtriseid@Longlong243@kenopen@tlewis@TheoCryptoLover@austinSP@claydevlin@Havinadaydream1@dennishlewis@OPEN_DavidAlvin

Medium

URL: https://medium.com/@theOPENPlatformFollowers: 4.6 K FollowersHow Many Updates In The Last 7 Days: 5 Recent Updates

URL: https://www.linkedin.com/company/theopenplatform/Followers: 45 followers

Open Platform Team Members

Name: Ken Sangha**Position:**CEOBio: Invited Entrepreneur, Advisor, Speaker at various organizations from Yahoo & Flurry speaking on the topic of Mobile Growth to Advising multiple Investor backed Startups/Accelerators.Link: https://www.linkedin.com/in/kensangha/

Name: Andrew LeungPosition: CTO Link: https://www.linkedin.com/in/andrewhleung/

Name: Abhishek PuniaPosition: Blockchain LeadLink: https://www.linkedin.com/in/abhishek-punia-6b067a68/

Name: Chase SmithPosition: Lead ArchitectLink: https://www.linkedin.com/in/chase-smith-01841799/

Name: Dustin SinkeyPosition: Lead Smart Contract Engineer — Link: https://www.linkedin.com/in/dustinsinkey/

Name: Roger JinPosition: Director Of Strategy Link: https://www.linkedin.com/in/rogerdjin/

Name: Dennis H LewisPosition: Director of MarketingBio: Dennis is a seasoned digital storyteller and ICO marketing specialist with a proven track record in both Europe and the United States. He has successfully lead to market and exited multiple startup companies, and prides himself on his ability to make complex projects easy to understand and relatable. In a marketing landscape increasingly obsessed with shiny objects and overly complicated sales funnels, Dennis still believes that the key to any successful marketing campaign are the words on the page.Link: https://www.linkedin.com/in/dennishlewis/

Name: Alvin LauPosition: Managing Director Link: https://www.linkedin.com/in/alvin-lau-7a452418/

Name: Steven ZhangPosition: Product Manager Link: https://www.linkedin.com/in/steven-zhang-4ba88a119/

Name: Vincent VuongPosition: Product ManagerLink: https://www.linkedin.com/in/vuongvincent96/

Name: Will BunkerPosition: Operations AdvisorsBio: Traction speaks louder than words. Since building the dating site that became Match.com in the 90s, I have bootstrapped several startups to profitability. I’ve worked with countless entrepreneurs to help them scale their business. With GrowthX, I’m looking to mentor great early stage ideas and the next great entrepreneurs.Link: https://www.linkedin.com/in/willbunker/

Name: Lorne LantzPosition: Payment AdvisorBio: Specializes in Product Development, Public Speaking, Video Production.Link: https://www.linkedin.com/in/lorne-lantz-3b31992/

Name: John GardinerPosition: Finance and Partnerships AdvisorBio: Experienced operational CFO with a demonstrated history of success in the video game and medtech industries. Strong finance professional skilled in Analytical Skills, Raising Capital, Management, Mergers & Acquisitions, Strategic Planning, and Business Process Improvement.Link: https://www.linkedin.com/in/johngardiner2/

Name: Roger LimPosition: Advisor Link: https://www.linkedin.com/in/limroger/