.

[OpenMoneyBTT]

One of the unique aspects of our solution for developers to accept cryptocurrency for their in-app purchases is the Scaffold. The Scaffold is a smart contract that bridges the gap between the developer’s database and the end user. They can be created through our API and customized to suit the developer's needs.

Each Scaffold is created for a specific type of in-app purchase. When payment is sent from the user to the Scaffold, the Scaffold automatically transfers payment to the developer and returns to the User an OPEN State that acts as the purchase receipt.

For example, a Scaffold can be customized to issue subscriber status for a customer. The Scaffold will ultimately accept cryptocurrency from the user, provide the user with a subscriber state, and immediately send payment to the developer. No more lag time for developers to accept payment!

The scaffold is very modular and can be implemented with minimal modifications to their application. The OPEN API makes this a seamless and simple operation. Find in depth details and use cases regarding the Scaffold system in our whitepaper!

Hi
Nice initiative!
Seems like Scaffold will
make life more easier for developer and User for the deals!
Glad to hear about this new innovation! The name itself also pretty eye catching.
"Scaffold". Like it!

Thanks!

Thanks for your support eye4bd!

[1715180856]

1715180856

[1715180856]

1715180856

[1715180856]

1715180856

[pynetx]

Today we'd like to discuss the OPEN Token economics a bit. OPEN Token gains the network effect of Bitcoin and Ethereum as it is utilized to enable all applications to accept all cryptocurrencies as infrastructure on the OPEN Platform.

A 20% Developer Pool is Maintained Daily
- For incentivizing developer on-boarding
- Staking and network user distribution mechanism for security 3% of all cryptocurrencies application payments are converted to OPEN daily
- Converted to Open via a public cryptocurrency exchange to maintain developer growth pool
 - Covers self sustaining ecosystem growth costs 20% Maintained to incentivize developers' new applications

Can you see how powerful this architecture is?

wow, that's something new. I like the idea of 20% developer pool.

[OpenMoneyBTT]

Yesterday almost $15 billion worth of Bitcoin changed hands, but there was not one actual receipt!

You see, in the decentralized world of cryptocurrencies sending money is relatively simple. Proving that money was sent is trivial (any blockchain explorer can do that).

**However, showing that YOU sent money to ME is nigh on impossible.**

 Something as simple as showing your laundry ticket in exchange for your clean shirts has the entire industry stumped - until now.

The OPEN Platform provides a fully decentralized architecture for software developers that not only makes payments super simple, but provides the key missing ingredient - a blockchain backed receipt called an OPEN State. Check out our white paper for more information!

[OpenMoneyBTT]

On any decentralized network there are specific operations that do not go well with them. These do not fit with the way that trustless networks work. For a trustless network to be sure that information or a transaction is real, it must validate that transaction with other nodes. This means that each transaction on a trustless network is many times more expensive than one that is off-chain.

The general rule of thumb for decentralized networks like blockchain is that:
- Computations are much more expensive
- Storage is much more expensive

In the future, even as decentralized technology expands its grasp it is necessary to look at the blockchain for what it is great at: getting trustless networks to come to a consensus. On-chain aspects can provide security, but that does not mean that every operation should be broadcast to and be done on the blockchain.

That is why the OPEN Platform is so essential. We provide a seamless path for merging the on-chain and off-chain aspects of software applications while leveraging the strengths of each.

Want more information? Check out our white paper!

[ellerby123]

On any decentralized network there are specific operations that do not go well with them. These do not fit with the way that trustless networks work. For a trustless network to be sure that information or a transaction is real, it must validate that transaction with other nodes. This means that each transaction on a trustless network is many times more expensive than one that is off-chain.

The general rule of thumb for decentralized networks like blockchain is that:
- Computations are much more expensive
- Storage is much more expensive

In the future, even as decentralized technology expands its grasp it is necessary to look at the blockchain for what it is great at: getting trustless networks to come to a consensus. On-chain aspects can provide security, but that does not mean that every operation should be broadcast to and be done on the blockchain.

That is why the OPEN Platform is so essential. We provide a seamless path for merging the on-chain and off-chain aspects of software applications while leveraging the strengths of each.

Want more information? Check out our white paper!

This is great - leveraging the best of both on-chain and off-chain infrastructure is the best route to take.

[CryptoBry]

On any decentralized network there are specific operations that do not go well with them. These do not fit with the way that trustless networks work. For a trustless network to be sure that information or a transaction is real, it must validate that transaction with other nodes. This means that each transaction on a trustless network is many times more expensive than one that is off-chain. The general rule of thumb for decentralized networks like blockchain is that:
- Computations are much more expensive
- Storage is much more expensive
In the future, even as decentralized technology expands its grasp it is necessary to look at the blockchain for what it is great at: getting trustless networks to come to a consensus. On-chain aspects can provide security, but that does not mean that every operation should be broadcast to and be done on the blockchain. That is why the OPEN Platform is so essential. We provide a seamless path for merging the on-chain and off-chain aspects of software applications while leveraging the strengths of each. Want more information? Check out our white paper!

Getting the best of both worlds is the way to go. While we are extolling the advantages and benefits of the decentralized platform, there remains to be some limitations and off-chain platform can help. We should be excited with the prospect of the #OpenMoney project because there would be the merging of the best on-chain and off-chain infrastructure. Now, when you say accepting cryptocurrency...will it mean limited to just Ethereum or also Bitcoin et al?

[OpenMoneyBTT]

The current payment structure for in-app purchases relies on accepting payment through various centralized systems that finally result in the application’s protected database being updated. What if there was a way to bypass all of those centralized entities, immediately accept and process payment in a multitude of currencies including crypto, and update the application database accordingly?

 This is what OPEN Platform accomplishes by bringing a decentralized solution to the developer. By connecting the developer’s centralized database to the blockchain, they can avoid the centralized payment structure that causes delay and fees, but also without completely altering their existing backend.

 OPEN’s solution is easily implemented and modular, taking the best parts of a decentralized approach and leaving the strength of existing centralized databases for developers. This is accomplished by the OPEN platform stacked solution: API, Scaffolds, OPENWallet, OPEN Node and more. Read about it in our whitepaper!

[savantsam]

The current payment structure for in-app purchases relies on accepting payment through various centralized systems that finally result in the application’s protected database being updated. What if there was a way to bypass all of those centralized entities, immediately accept and process payment in a multitude of currencies including crypto, and update the application database accordingly?

 This is what OPEN Platform accomplishes by bringing a decentralized solution to the developer. By connecting the developer’s centralized database to the blockchain, they can avoid the centralized payment structure that causes delay and fees, but also without completely altering their existing backend.

 OPEN’s solution is easily implemented and modular, taking the best parts of a decentralized approach and leaving the strength of existing centralized databases for developers. This is accomplished by the OPEN platform stacked solution: API, Scaffolds, OPENWallet, OPEN Node and more. Read about it in our whitepaper!

Amazing! This is the future. No more waiting monthly for a pay cheque from app distributers. Thanks OPEN!

[OpenMoneyBTT]

On any decentralized network there are specific operations that do not go well with them. These do not fit with the way that trustless networks work. For a trustless network to be sure that information or a transaction is real, it must validate that transaction with other nodes. This means that each transaction on a trustless network is many times more expensive than one that is off-chain. The general rule of thumb for decentralized networks like blockchain is that:
- Computations are much more expensive
- Storage is much more expensive
In the future, even as decentralized technology expands its grasp it is necessary to look at the blockchain for what it is great at: getting trustless networks to come to a consensus. On-chain aspects can provide security, but that does not mean that every operation should be broadcast to and be done on the blockchain. That is why the OPEN Platform is so essential. We provide a seamless path for merging the on-chain and off-chain aspects of software applications while leveraging the strengths of each. Want more information? Check out our white paper!

Getting the best of both worlds is the way to go. While we are extolling the advantages and benefits of the decentralized platform, there remains to be some limitations and off-chain platform can help. We should be excited with the prospect of the #OpenMoney project because there would be the merging of the best on-chain and off-chain infrastructure. Now, when you say accepting cryptocurrency...will it mean limited to just Ethereum or also Bitcoin et al?

Hello! Our platform is cryptocurrency agnostic. So, while users will be offered a premium if they pay in OPEN Token, our platform will allow you to pay with almost any major cryptocurrency.

[ellerby123]

The current payment structure for in-app purchases relies on accepting payment through various centralized systems that finally result in the application’s protected database being updated. What if there was a way to bypass all of those centralized entities, immediately accept and process payment in a multitude of currencies including crypto, and update the application database accordingly?

 This is what OPEN Platform accomplishes by bringing a decentralized solution to the developer. By connecting the developer’s centralized database to the blockchain, they can avoid the centralized payment structure that causes delay and fees, but also without completely altering their existing backend.

 OPEN’s solution is easily implemented and modular, taking the best parts of a decentralized approach and leaving the strength of existing centralized databases for developers. This is accomplished by the OPEN platform stacked solution: API, Scaffolds, OPENWallet, OPEN Node and more. Read about it in our whitepaper!

It's great that there's a solution to bypass centralized entities. No more long wait times for developers to get paid.

[mainconcept]

The current payment structure for in-app purchases relies on accepting payment through various centralized systems that finally result in the application’s protected database being updated. What if there was a way to bypass all of those centralized entities, immediately accept and process payment in a multitude of currencies including crypto, and update the application database accordingly?

 This is what OPEN Platform accomplishes by bringing a decentralized solution to the developer. By connecting the developer’s centralized database to the blockchain, they can avoid the centralized payment structure that causes delay and fees, but also without completely altering their existing backend.

 OPEN’s solution is easily implemented and modular, taking the best parts of a decentralized approach and leaving the strength of existing centralized databases for developers. This is accomplished by the OPEN platform stacked solution: API, Scaffolds, OPENWallet, OPEN Node and more. Read about it in our whitepaper!

Thats a great feature - avoiding delays and fees with the decentralized solution from Open Money. Can't wait to see it in action.

[CryptoBry]

On any decentralized network there are specific operations that do not go well with them. These do not fit with the way that trustless networks work. For a trustless network to be sure that information or a transaction is real, it must validate that transaction with other nodes. This means that each transaction on a trustless network is many times more expensive than one that is off-chain. The general rule of thumb for decentralized networks like blockchain is that:
- Computations are much more expensive
- Storage is much more expensive
In the future, even as decentralized technology expands its grasp it is necessary to look at the blockchain for what it is great at: getting trustless networks to come to a consensus. On-chain aspects can provide security, but that does not mean that every operation should be broadcast to and be done on the blockchain. That is why the OPEN Platform is so essential. We provide a seamless path for merging the on-chain and off-chain aspects of software applications while leveraging the strengths of each. Want more information? Check out our white paper!

Getting the best of both worlds is the way to go. While we are extolling the advantages and benefits of the decentralized platform, there remains to be some limitations and off-chain platform can help. We should be excited with the prospect of the #OpenMoney project because there would be the merging of the best on-chain and off-chain infrastructure. Now, when you say accepting cryptocurrency...will it mean limited to just Ethereum or also Bitcoin et al?

Hello! Our platform is cryptocurrency agnostic. So, while users will be offered a premium if they pay in OPEN Token, our platform will allow you to pay with almost any major cryptocurrency.

Thanks a lot for clarifying that concern. Now, I was also wondering what does 'agnostic' mean as we know that it is a term more popularly connected with religious niche so now I understand its real meaning when used in apps. To explore further, would it be possible to use the OPEN platform selling my coins or tokens to be paid with let's say US Dollar or another cryptocurrency?

[OpenMoneyBTT]

OPEN Platform enables users and developers of mainstream apps to use and accept cryptocurrency while avoiding restrictions imposed by current payment infrastrucftures. The platform provides a technology stack that addresses the problems developers face for in-app purchases. These problems include centralized merchant entities that charge fees for their service and long wait periods to access the funds.

The OPEN platform solution solves these problems by utilizing the blockchain and bridging the gap between users, the developer and the application database. This is done through Scaffolds, an intelligent solution for storing data on the blockchain. There is no need to flood the ecosystem with a multitiude of tokens for various in-app items as this would lead to unnecessary complexity.Now there is truly a way for decentralized payment in addition to accepting cryptocurrency in mainstream applications.

By providing open source tools and a utility token for this technology stack, we encourage adoption and invovlement in the OPEN ecosystem. Other benefits of the OPEN platform include being easy to implement with very little re-work of existing applications and redistribution of gains after staking a token to token holders.

Please read more about all of OPEN platform's features in the whitepaper!

[ellerby123]

OPEN Platform enables users and developers of mainstream apps to use and accept cryptocurrency while avoiding restrictions imposed by current payment infrastrucftures. The platform provides a technology stack that addresses the problems developers face for in-app purchases. These problems include centralized merchant entities that charge fees for their service and long wait periods to access the funds.

The OPEN platform solution solves these problems by utilizing the blockchain and bridging the gap between users, the developer and the application database. This is done through Scaffolds, an intelligent solution for storing data on the blockchain. There is no need to flood the ecosystem with a multitiude of tokens for various in-app items as this would lead to unnecessary complexity.Now there is truly a way for decentralized payment in addition to accepting cryptocurrency in mainstream applications.

By providing open source tools and a utility token for this technology stack, we encourage adoption and invovlement in the OPEN ecosystem. Other benefits of the OPEN platform include being easy to implement with very little re-work of existing applications and redistribution of gains after staking a token to token holders.

Please read more about all of OPEN platform's features in the whitepaper!

Thanks for the explanation. OPEN is making it a no-brainer for app developers to adopt the blockchain.

[OpenMoneyBTT]

The current payment structure for in-app purchases relies on accepting payment through various centralized systems that finally result in the application’s protected database being updated. What if there was a way to bypass all of those centralized entities, immediately accept and process payment in a multitude of currencies including crypto, and update the application database accordingly?

 This is what OPEN Platform accomplishes by bringing a decentralized solution to the developer. By connecting the developer’s centralized database to the blockchain, they can avoid the centralized payment structure that causes delay and fees, but also without completely altering their existing backend.

 OPEN’s solution is easily implemented and modular, taking the best parts of a decentralized approach and leaving the strength of existing centralized databases for developers. This is accomplished by the OPEN platform stacked solution: API, Scaffolds, OPENWallet, OPEN Node and more. Read about it in our whitepaper!

Thats a great feature - avoiding delays and fees with the decentralized solution from Open Money. Can't wait to see it in action.

Thanks for your support mainconcept

[CryptoBry]

OPEN Platform enables users and developers of mainstream apps to use and accept cryptocurrency while avoiding restrictions imposed by current payment infrastrucftures. The platform provides a technology stack that addresses the problems developers face for in-app purchases. These problems include centralized merchant entities that charge fees for their service and long wait periods to access the funds.

The OPEN platform solution solves these problems by utilizing the blockchain and bridging the gap between users, the developer and the application database. This is done through Scaffolds, an intelligent solution for storing data on the blockchain. There is no need to flood the ecosystem with a multitiude of tokens for various in-app items as this would lead to unnecessary complexity.Now there is truly a way for decentralized payment in addition to accepting cryptocurrency in mainstream applications.

By providing open source tools and a utility token for this technology stack, we encourage adoption and invovlement in the OPEN ecosystem. Other benefits of the OPEN platform include being easy to implement with very little re-work of existing applications and redistribution of gains after staking a token to token holders.

Please read more about all of OPEN platform's features in the whitepaper!

Thanks for the explanation. OPEN is making it a no-brainer for app developers to adopt the blockchain.

Making things much easier for many developers can be the icing on the cake for this program. Now, because of this kind of setup am sure that the OPEN platform can be encouraging people who are also thinking of being app developers to throw their ideas and talents into the marketplace. I can now see the bigger vision of OpenMoney...we are building a great community here of developers and the end consumers of these apps. I always believe that it is the community (big, intelligent and loyal group of people) that can push any project further.

[OpenMoneyBTT]

OPEN Platform enables users and developers of mainstream apps to use and accept cryptocurrency while avoiding restrictions imposed by current payment infrastrucftures. The platform provides a technology stack that addresses the problems developers face for in-app purchases. These problems include centralized merchant entities that charge fees for their service and long wait periods to access the funds.

The OPEN platform solution solves these problems by utilizing the blockchain and bridging the gap between users, the developer and the application database. This is done through Scaffolds, an intelligent solution for storing data on the blockchain. There is no need to flood the ecosystem with a multitiude of tokens for various in-app items as this would lead to unnecessary complexity.Now there is truly a way for decentralized payment in addition to accepting cryptocurrency in mainstream applications.

By providing open source tools and a utility token for this technology stack, we encourage adoption and invovlement in the OPEN ecosystem. Other benefits of the OPEN platform include being easy to implement with very little re-work of existing applications and redistribution of gains after staking a token to token holders.

Please read more about all of OPEN platform's features in the whitepaper!

Thanks for the explanation. OPEN is making it a no-brainer for app developers to adopt the blockchain.

Making things much easier for many developers can be the icing on the cake for this program. Now, because of this kind of setup am sure that the OPEN platform can be encouraging people who are also thinking of being app developers to throw their ideas and talents into the marketplace. I can now see the bigger vision of OpenMoney...we are building a great community here of developers and the end consumers of these apps. I always believe that it is the community (big, intelligent and loyal group of people) that can push any project further.

Thanks for your support! We have a strong community here at OPEN and we're glad you're a part of it

[pynetx]

On any decentralized network there are specific operations that do not go well with them. These do not fit with the way that trustless networks work. For a trustless network to be sure that information or a transaction is real, it must validate that transaction with other nodes. This means that each transaction on a trustless network is many times more expensive than one that is off-chain. The general rule of thumb for decentralized networks like blockchain is that:
- Computations are much more expensive
- Storage is much more expensive
In the future, even as decentralized technology expands its grasp it is necessary to look at the blockchain for what it is great at: getting trustless networks to come to a consensus. On-chain aspects can provide security, but that does not mean that every operation should be broadcast to and be done on the blockchain. That is why the OPEN Platform is so essential. We provide a seamless path for merging the on-chain and off-chain aspects of software applications while leveraging the strengths of each. Want more information? Check out our white paper!

Getting the best of both worlds is the way to go. While we are extolling the advantages and benefits of the decentralized platform, there remains to be some limitations and off-chain platform can help. We should be excited with the prospect of the #OpenMoney project because there would be the merging of the best on-chain and off-chain infrastructure. Now, when you say accepting cryptocurrency...will it mean limited to just Ethereum or also Bitcoin et al?

Will you use some third-party payment gateway to support all cryptocurrencies or developing something in-house?
Hello! Our platform is cryptocurrency agnostic. So, while users will be offered a premium if they pay in OPEN Token, our platform will allow you to pay with almost any major cryptocurrency.

[OpenMoneyBTT]

On any decentralized network there are specific operations that do not go well with them. These do not fit with the way that trustless networks work. For a trustless network to be sure that information or a transaction is real, it must validate that transaction with other nodes. This means that each transaction on a trustless network is many times more expensive than one that is off-chain. The general rule of thumb for decentralized networks like blockchain is that:
- Computations are much more expensive
- Storage is much more expensive
In the future, even as decentralized technology expands its grasp it is necessary to look at the blockchain for what it is great at: getting trustless networks to come to a consensus. On-chain aspects can provide security, but that does not mean that every operation should be broadcast to and be done on the blockchain. That is why the OPEN Platform is so essential. We provide a seamless path for merging the on-chain and off-chain aspects of software applications while leveraging the strengths of each. Want more information? Check out our white paper!

Getting the best of both worlds is the way to go. While we are extolling the advantages and benefits of the decentralized platform, there remains to be some limitations and off-chain platform can help. We should be excited with the prospect of the #OpenMoney project because there would be the merging of the best on-chain and off-chain infrastructure. Now, when you say accepting cryptocurrency...will it mean limited to just Ethereum or also Bitcoin et al?

Will you use some third-party payment gateway to support all cryptocurrencies or developing something in-house?
Hello! Our platform is cryptocurrency agnostic. So, while users will be offered a premium if they pay in OPEN Token, our platform will allow you to pay with almost any major cryptocurrency.

Hello! OPEN is developing a novel decentralized application payment gateway that integrates seamlessly with existing application backends. Please check out our white paper for more details: https://s3.amazonaws.com/openmoney/OPEN_TECH_WP_V2.pdf

[OpenMoneyBTT]

Hey everyone - just a reminder: The number of entries/stakes earned in the bounty contest does not correspond with the number of tokens that each participant will earn. Instead, at the end of the bounty contest (when the public ICO has concluded) the dedicated pool of tokens will be divided proportionally between all valid participants based on the number of entries/stakes earned.