Open Platform (OPEN) - ICO REVIEW - The ULTIMATE solution to MAINSTREAM cryptocurrency ADOPTION!
Open Platform (OPEN) - ICO REVIEW - The ULTIMATE solution to MAINSTREAM cryptocurrency ADOPTION!
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This is one of the most exciting projects out there in moving crypto adoption forward. Open platform is the first payment structure centred around application developers. When you have decentralization, its pretty difficult to re-create the all of the centralized infrasctrure (Uber, Airbnb, twitter, facebook etc..). they way they want to bring blockchain into the mainstream is to make it incredible easy for software application developers who already have centralized applications to integrate with the blockchain, that’s what OPEN PLATFORM does, they are a blockchain AGNOSTIC platform. They act as a layer of abstraction between, the developer and all of the blockchain processes to form actual backend changes. The IDEA is to make it as EASY is possible to integrate the blockchain into the mainstream. This end result is this, you go to any website like amazon or ebay, and for the payment options there is visa, mastercard, paypay, the “open-platform”.
- They are the stripe or paypal of decentralized payments for apps.
- They are just like ripple, they have these payment rails for on-chain application payments through the software itself, the biggest difference is that they are ACTUALLY decentralized.
Token metrics
Ticker: OPEN
Token type: ERC20
ICO Token Price: 1 OPEN = 0.0800 USD
Fundraising Goal: 30,000,000 USD
Total Tokens: 1,000,000,000
Available for Token Sale: 50%
- 20% of the tokens are going into the developer pool
- technicially, 70% is going to the public.
- ERC 20 token
Working product - Testnet is up
- A payment solution for apps and dapp’s,
- It doesn’t have to be a decentralized app.
- (language agnostic) You can program in any language and use the API
- (blockchain agnositc) You can use program it on ANY blockchain.
Open platform:
think of it as this, you’ve got wallets on-chain that accept crypto curreicnes but they don’t communicate off-chain by themselves, this is something that it’s a two-way communication layer that would allow them to speak to application back-ends, and application back-end’s to record that data, so in essence, cryptocurrency walls could be tied directly to a database, etc… so that application developers can build sophisticated applications using blockchain technology utilizing the things that they’re very comfortable with, like there database, their application server, SKDs and API’s whereas right now the kind of standard is very much that you’re asking an application developer to learn a language like “solidity”, learn the constraints and constructs of blockchain and develop within smart contracts, whereas this enables them to accept payments and build applications in languages and technology that they’re very familiar with, so you can in essence appeal to everybody who has an existing application and not exclude them, meaning they we could build this infrastructure for cryptocurrency acceptance, for mainstream application developers that already have databases, that don’t need to build any of this back onto the blockchain. For decentralized application, think of it as a full end-to-end solution that allows them to take payments, do authorization and do digital asset verification.
How it works
We that do is that they have a scaffold generator that allows you to deploy your entire payment scheme, whether its enterprise, consumer, gaming, virtual currency, pay for play, or subscription-based. You can basically depoy that entire technology using an open scaffold generator and that allows you to skip learning, solidity, it allows you to skip learning blockchain, so you could be a very simple or novice developer, and delop this payment scheme, on-chain and accept cryptocurreices in various ways that your application needs to. If you think of that like you have a Netflix or a candy crush and they have very specific payment format and what this does is it essentially makes it easier for a mainstream developer like them to essentially deploy on the blockchain and accept cryptocurrencies, in a way that can be tied directly to their database because they have sophisticated applications with user table, digital asset tables, analytics tables, etc.. and you have to appeal to those needs for blockchain to be real to those applications. YOU COULD BRING MILLIONS OF APPS ONTO THE BLOCKCHAIN.
- Imagine you are the creator of a game or you own a charity and you want to start accepting any crypto as payment, with the way that its set up right now, Through something like the coin-base plugin or any other solution, its really A one way invoice type of situation, for instance someone would pay their crypto and it would be sent to the game and the game would have to handle that transaction and the infrastructure inside it and it would have to be updated from there. This could take a fair chunck of time for it to happen right now. With the open API and scaffold, that can actually touch the application database and that kind of transaction can be done 10 or 20 times faster than it could be today.
- Another advantage of this is that, for example the coinbase solution only limits people pay with the 4 crypto currencies they have on their platform, however the open platform is way better because it’s a decentralized solutionthat enables you to pay with any cryptocurrency. This is important because it gives more use-cases to every single crytocurrency out there. This is an important idea because it fosters cryptocurrency adoption to the masses.
Applications of scaffolds and open states – section of whitepaper
Motivation
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