OPEN: Decentralized Payment and Application Platform
http://bountycontest.openmoney.digitalThis paper presents OPEN, a system of technologies designed to facilitate mainstream adoption of
blockchains by creating a unique platform that makes it easy for developers to integrate decentralized
technologies. The OPEN platform comprises of several key components: Scaffolds, Scaffold Creators,
and OPEN_States. These core technologies operate together within the OPEN platform to create a
comprehensive approach to decentralized payment schemes for any developer application or software
service. OPEN’s infrastructure incorporates user states tied to pricing schemes and application attributes
that can be ported to any smart contract enabled blockchain. Enabling a comprehensive decentralized
application platform for any payment formats.
Furthermore, this paper describes the various security risks and mitigations for the OPEN platform with
regards to both the on-chain and the off-chain interactions that a developer might encounter in various
use cases. The OPEN platform and API work together to provide a full turn key solution for developers
looking to leverage the power of blockchain technology into their current technology stack. Along with
the capability of adding any custom app based pricing scheme, while minimizing exposure to price
volatility, and the ability to validate user states on the network in relation to payment status. OPEN
enables developers to implement any payment scheme pegged to any currency of their choice. One of
the largest barriers to adoption of cryptocurrencies by developers has been the incredible price volatility
cryptocurrencies exhibit, the OPEN architecture is designed such that the developer’s exposure to
volatility is greatly minimized.
The architecture presented in this paper introduces a novel decentralized application payment gateway
that integrates seamlessly with existing application backends. Additionally, OPEN’s architecture
publishes proofs of valid transactions that hold information surrounding the transaction, enabling
limitless application level use cases. A core impediment to large scale adoption of blockchain platforms
is their inability to make it easy for anyone to integrate. Many requisite an understanding of blockchain
technology on the assumption that people will learn. This assumption has not held. Even among the
most technical of users, there is little incentive to learn the skills required to incorporate or interact with
blockchain technologies. The OPEN team recognizes this inherent problem and leverages years of
development experience to eliminate the pain points that are preventing blockchain projects from
revolutionizing our society. The OPEN team believes that creating interoperability between platforms,
building tools to assist developer engagement, and increasing user adoption benefits everyone.
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READ CAREFULLY!
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How?
Every entry that you earn in this contest is equivalent to a stake in the specific bounty contest pool of 900K OPEN tokens!
Here's how you can earn entries:
Follow us on facebook - 25 entries
Follow us on twitter - 25 entries
Join our Telegram channel - 25 entries
Join our Slack team - 25 entries
Share your personal referral link - for every person who signs up through your link you get 100 entries
BUT WAIT - THERE'S MORE!
We've set up 3 tiers of bonus entries that will are guaranteed prizes if you reach the goals:
500 bonus entries for reaching 500 entries
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BUT THAT'S NOT ALL!
Between now and the end of the ICO we're going to announce three awesome prize giveaways.
At each of these milestones (stay tuned to our emails to know exactly when) we'll be giving away 3 prizes to the top three participants on the leaderboard:
For the #1 leader an amazing biometric keypad safe
For the #2 position a Trezor hard wallet
For the #3 a cool dictionary safe
Ready for the most fun you've had all summer?
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http://vy.tc/e6jeE21
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