OPEN Platform is a decentralized platform that runs smart contracts : applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.
This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.
Today, blockchain technology is changing the way of software development for business transactions. Almost all spheres of industries are looking for opportunities to implement this technology to realize their new business ideas or increase efficiency using all the advantages of the blockchain.
The new blockchain platform offers a wide range of solutions for various tasks and implements all the existing effective experiments for blockchain technologies and uses all the benefits of JVM.
OPEN Platform provides necessary payment infrastructure for application developers to utilize the blockchain including cryptocurrency technologies.
OPEN Platform is a hybrid technology which harmoniously combines on-chain and off-chain approaches.
At current moment OPEN Platform consists of several essential parts:
Provides convenient API to integrate with OPEN Platform.
OPEN API interacts with a blockchain via OPEN Scaffold.
Is a smart-contract which can contain some money sharing logic.
Provides necessary tools for application developers.
Is intended to track and store a wallet's state.
Multipurpose blockchain technology.
The hybrid architecture of OPEN Platform provides several advantages:
To take the power of interoperability, the Developer should only integrate with OPEN Platform.
At the current moment, OPEN Platform provides partial cross-chain interoperability. But further development will bring the full power of cross-chain interoperability.
The number of integrated blockchains may be increased at any moment. Also, OPEN Platform functionality can be extended by adding new parts of the platform.
OPEN State may provide an ability to decrease the number of transactions in target blockchains.
OPEN provides the application rails to connect all on-chain payments and the complimenting proof-of-goods into any application’s backend.
Think of it is as the first developer wallet all applications require with an accompanying API to enable any developer to use OPEN to port their application to any blockchain.
OPEN Scaffolds enable the application to interoperate with on-chain components.
OPEN API enables on-chain interactions to sync with an application’s database. Record and update payments, user data, user access, etc. on and off the blockchain all at once.
OPEN Token utilizes a unique utility design which not only powers infrastructure but also provides a mechanism to grow developer adoption of OPEN Platform.
By utilizing a mechanism to encourage adoption of OPEN Platform, OPEN Platform is able to support its community of users while powering growth for applications to integrate with OPEN.