Open Platform - Easy Crypto Integration into Existing Apps (New ICO)
What is Open Platform?
Open Platform is decentralized payment infrastructure that allows for easy cryptocurrencies integration into existing applications.
In essence, it enables an application to integrate blockchain technology, deploy any payment scheme, accept any cryptocurrency and track payment states on the blockchain.
What does this really mean?
This means that software developers that already have a product with an established infrastructure can easily switch to a ccryptocurrency based payment system.
It also means that new projects can easily implement a customized payment gateway with cross chain functionality without spending time and money on its development.
What problems does this address?
Open Platform is addressing multiple problems. The first major problem is that many current projects are creating their own payment gateways specific to their project. Open Platform is creating a "platform", thus the name, that will allow developers to bypass the step of creating their own gateways and instead work only on customizing a smart contract and wallet to fit their needs.
The second problem being addressed is that it is difficult and expensive for exisiting non-blockchain projects to decentralize any of their operations. Open Platform will provide a blockchain agnostic way for existing projects to become decentralized in a modular way, beginning with payment processing.
How does it do this?
A applications database will communicate via OPEN API the smart contract known as a Scaffold. The Scaffold and application will create an Open State that will allow payments to be processed in the OPEN Wallet.
Users can access and utilize apps via any wallet and will use oracles to communicate on and off-chain events to each other. Initially Open Platform will utilize Tendermint until faster oracles come into play.
Scaffolds sound really important
Scaffolds are the key to Open Platform. They are a template smart contract that is created by a developer and that includes application-specific information, such as pricing scheme or amount of assets owned.
Scaffolds are created by developers in a Scaffold Creator. Scaffolds verify pricing schemes and transfer payments from the user's wallet to the developer's wallet.
In essence, the Scaffold dictates what you pay, what you receive for that payment, where it comes from and who it goes to. For example, a Scaffold could dictate that it costs $10 for a tile of land in CryptoCities and that this payment goes to the developer.
A great thing about Scaffolds is that a developer can make near-instant changes to the payment scheme (even including a subscription model) without messing with the application itself.
What is the token for?
The token known as OPEN will be used by developers to stake Scaffolds. Developers will be able to create Scaffolds but in order to use them, they will have to stake OPEN to it. The OPEN will remain locked for the entire time the Scaffold is in use and will also be staked for a minimum amount of time to prevent the rapid opening and closing of Scaffolds.
It's all about the use cases
Open Platform is entering a sector with huge potential as seen by current off-chain businesses such as PayPal and Stripe. The ability to connect off-chain applications with an on-chain data and payments is a unique advantage for Open Platform.
Use cases are numerous and include the use by almost every current blockchain project being introduced. Open Platform could reduce the need for a user to hold multiple tokens.
Specific use cases include in-game currency systems, software licences management payments and also cross-app payments.
Overall
Open Platform is looking to solve two major problems with cryptocurrency, ease of use and mass adoption. By using a single wallet for multiple applications (or all) Open Platform will make a crypto user out of a non-crypto enthusiast.
Open Platform will contribute to mass adoption by allowing already successful off-chain applications (i.e. games) to transfer all or parts of their infrastructure on-chain and into the decentralized world.
The Vitals
📅ICO Date: Whitelist Open Now
📈Token Ticker: OPEN
💵Current Token Price: $0.08
🆔KYC: Yes
Total Supply: 1 Billion at TGE.
Amount for Sale: 50% total
Token Type: ERC20.
Open Platform
Whitepaper
Telegram
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