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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?

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?

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!

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!

One can do it anywhere they like or need to be some specific platforms or independent blogs?

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!

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!

I also never imagined that crypto cats can push the Ethereum network that much. It clogged the Eth network that infuriated many and there was even an ICO project that cancelled its crowdsale schedule due to this problem. Anyway, this is indeed showing us some of the weakness of relying only on the on-chain components. Hopefully, the OPEN Platform has already taken the same scenario into consideration and would use the best of both worlds and this can be good for doing business.

It's been a while since we gave you guys the chance of earning more stakes, so here's a good opportunity to increase your amount of entries in the contest!

What you have to do:

Create and publish an original piece of content that mentions Open Platform! You can write a blog post, publish an article, record a video, do a podcast... We love them all.


Requirements to earn bounty stakes:

1. Must be original content
2. Written content must be at least 450 words
3. Audio and video content must be at least 2 minutes
4. Must discuss Open Platform in a positive light
5. Must include a link back to our website using this url: http://go.openmoney.digital/3lm0
6. You must submit the URL to your published content as an answer to the custom action on our bounty contest - **you'll get 500 stakes!**. Sign up here if you haven't already http://go.openmoney.digital/bountycontest


REMEMBER! Trying to cheat your way to earning 500 entries **will get you disqualified**. We thoroughly revise every submission and we demand that you participate respecting our terms and conditions.

It's been a while since we gave you guys the chance of earning more stakes, so here's a good opportunity to increase your amount of entries in the contest!

What you have to do:

Create and publish an original piece of content that mentions Open Platform! You can write a blog post, publish an article, record a video, do a podcast... We love them all.


Requirements to earn bounty stakes:

1. Must be original content
2. Written content must be at least 450 words
3. Audio and video content must be at least 2 minutes
4. Must discuss Open Platform in a positive light
5. Must include a link back to our website using this url: http://go.openmoney.digital/3lm0
6. You must submit the URL to your published content as an answer to the custom action on our bounty contest - **you'll get 500 stakes!**. Sign up here if you haven't already http://go.openmoney.digital/bountycontest


REMEMBER! Trying to cheat your way to earning 500 entries **will get you disqualified**. We thoroughly revise every submission and we demand that you participate respecting our terms and conditions.

Agree, off-chain is a must in such things I think . Otherwise we will get the same situation as cryptokitties caused. Btw never though that just some cards with cats on them could cost more than hundred thousand dollars. And moreover that people would buy them. But they do! I was really stumbled and shocked by that fact

Just a reminder about our awesome bounty contest: 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 participants based on the number of entries/stakes earned. The more entries you accumulate the more tokens you'll receive!

Developers who wish to develop applications (games or others) utilizing the blockchain should rely on a mix of on-chain and off-chain application architecture with respect to their application stack, especially until the Ethereum network has resovled its scaling issues.

 Off-Chain - Utilizing a traditional database or application layer for an application's heavy lifting. There is nothing wrong with utilizing a database for what it's meant to do, and helps to keep only components of an application that can truly benefit from being decentralized on-chain.

On-Chain - Relying on what blockchains are good at now, on-chain components of an application could very well just focus on payments, ownership of digital assets, game assets bought with cryptocurrency, and authorization/verification that you indeed bought x item to interact with smart contracts that are part of application.

Game settings, design algorithms (i.e the GeneScience or KittyAccessControl code in CryptoKitties), admin aspects, pricing models, should be done off-chain if utilizing something like OPEN.

Want more info? Check out our white paper!

People critizes the CryptoKitties trend but, it really highlights how Ethereum network is build to handle products, beyond ICO tokens.
will OPenMoney batch there off chain transactions between developers and users together daily and send the key off chain details to Ethereum through to secure as a smart contract in the blockchain?

Developers who wish to develop applications (games or others) utilizing the blockchain should rely on a mix of on-chain and off-chain application architecture with respect to their application stack, especially until the Ethereum network has resovled its scaling issues.

 Off-Chain - Utilizing a traditional database or application layer for an application's heavy lifting. There is nothing wrong with utilizing a database for what it's meant to do, and helps to keep only components of an application that can truly benefit from being decentralized on-chain.

On-Chain - Relying on what blockchains are good at now, on-chain components of an application could very well just focus on payments, ownership of digital assets, game assets bought with cryptocurrency, and authorization/verification that you indeed bought x item to interact with smart contracts that are part of application.

Game settings, design algorithms (i.e the GeneScience or KittyAccessControl code in CryptoKitties), admin aspects, pricing models, should be done off-chain if utilizing something like OPEN.

Want more info? Check out our white paper!

One of our most important architecture ideas is that not every aspect of every app needs to be decentralized. There are still advantages to centralized systems. There are clear benefits when applied correctly to solve a problem and not all situations call for a blockchain solution. In OPEN Platform’s case, the problem we address is the in-app purchasing system: how payments are received and ultimately affect an application’s centralized platform. The application database is complex and protected, necessary for the developer. Attempting to apply a blockchain for the database would not be practical; loss of efficiency and re-work by the developer.

The centralized systems that are replaced by our blockchain solution are all the payment channels needed today: user’s bank, merchant bank, payment provider, etc. Our Scaffold smart contracts allow payment to be direct between User and Developer. The Scaffold also acts as a link between the User and the Application Database. Payment for the specific purchase can be confirmed and affect the Database, completing the transaction.

The advantage for this solution is clear, avoiding the fees imposed by those centralized payment entities, accepting cryptocurrency, and instant access to the transaction funds. Selectively applying blockchain technology can provide great benefits for a system, leaving the centralized and decentralized portions to do what they do best. For a more comprehensive description of the OPEN Platform solution, please have a look at our whitepaper!