The OPEN PLATFORM is a blockchain based developer platform centered around providing payment infrastructure for mainstream application developers to embrace decentralized technologies.
Like the Stripe API has made it incredibly simple for developers to simply ‘plug and play’ and process payments within their technology stack, the OPEN API enables developers to similarly accept and process payments on blockchains in a way in which an application would require.
Because blockchains are structured in a decentralized fashion, there does not exist a centralized payments platform that caters to the needs of applications and their goods and services — enterprise applications, in app currencies for games, subscriptions, content etc.
As applications are more complex, requiring more than just the acceptance of cryptocurrencies in wallets they require the ability to update payment information (including the sale of their goods/service) to their off-chain database technology stack, authentication of users who have purchased a specific item (like a subscription to a service), as well as security and verification on a blockchain that can communicate with their existing off-chain architecture.
As experienced application developers, OPEN is developing the infrastructure applications required to process payments on any blockchain (Ethereum) enabling developers to:
Because no blockchain based payment infrastructure exists for application developers, OPEN is excited to be the first and only payment infrastructure and platform that enables developers to accept any cryptocurrency, on any blockchain, utilizing any application payment scheme.
OPEN enables developers to tap into the $300 billion in digital liquid currency.
The app stores' core functions center around the security and safety of payments between developers and the end user. Further, the distribution of applications and traffic to applications act as a second core function of App Stores or app platforms from Apple's App Store to Steam to Facebook.
The OPEN STATE and OPEN SCAFFOLDS enable developers to replace these functions in a decentralized environment.
SCAFFOLDS enable developers to simply plug and play their payment scheme and accept payments from end users in any cryptocurrency into their application. For example Candy Crush could deploy a SCAFFOLDS that contains all of its in-app purchase data, including the various packages of gems, lives, and price data.
The OPEN STATE enables applications to track which user bought what and serves as proof of receipt for that purchased asset in cryptocurrency, enabling an application to verify and authencate the users access to the application and the asset. For example Netflix or Candy Crush verifying that a specific user on a blockchain indeed has access to its subscription or a specific amount of gems.
Further, applications need to both verify and authenticate purchased goods by users on a blockchain and simultaneously update these on-chain transactions to their off-chain database. They will leverage the OPEN STATE to track which users have access to what content/goods/services within their application.
In addition, end users on a network need a way to automatically track which applications they have access to. The OPEN WALLET enables end users to track their various purchased goods or receipts of purchases across all the many applications they may be engaged with.
By considering the needs of applications, developers and end users on a blockchain OPEN plans to be the most developer friendly platform, much like Stripe API for centralized payments. With this focus, OPEN will be the most widely used decentralized payments technology platform and has plans to incentivize the growth of the number of developers utilizing the OPEN Platform.
To accomplish this, OPEN plans to build a decentralized marketplace for applications that acts to incentivize the adoption of the OPEN Platform by developers.
Very much like how top consumer applications (Netflix, Dating Apps) and Enterprise Applications (Salesforce, ZenSoft) and gaming applications (Candy Crush, Clash of Clans) are hosted across Steam, Apple App Store, Google Play, Amazon and others, OPEN plans to promote applications who adopt the acceptance of blockchains and cryptocurrency payments.
By maintaining a large pool of OPEN Token, OPEN can incentivize adoption of the platform and incentivize the first allotment of payments within the application by the end user. For example $500,000 of token can be granted to a hit puzzle genre game to accept cryptocurrencies using the OPEN API and the first $100,000 in the application's purchases across decentralized users could be free to spark the initial traction.
This will be supported by a large allotment or pool of token consistently kept at a number of tokens to be ready to onboard new applications, support the growth of the platform and incentivize the end users to utilize applications that have adopted the OPEN API. For example 20% of all OPEN Token would be held in the Developer Growth Pool in which it is kept at 20% on a daily basis.
To ensure that the Developer Growth Pool is consistently 20% of all OPEN Token, a 3% platform gas from all cryptocurrency based payments made in applications via OPEN Scaffold will be funneled to purchase OPEN Token daily on a public cryptocurrency exchange. The proceeds from this will be used to refill the Developer Growth Pool and to fuel growth, promotion and marketing of the OPEN Platform, enabling a self sustaining platform that can fuel its own marketing costs.
OPEN will also incentivize new developers and applications by providing token to be staked for security and anti spam deterrence from the Developer Growth Pool.
As OPEN begins to see simple applications like Crypto Kitties utilize the Ethereum blockchain it can enable developers to incorporate the utilization of off-chain components to improve the application and network experience while maintaining the payment process entirely on-chain.