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OpenMoneyBTT

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Quote from: pynetx on December 04, 2017, 09:04:53 AM

Quote from: OpenMoneyBTT on December 02, 2017, 11:38:30 AM

OPEN has a mission to create an open source set of tools that anyone can choose to use in order to handle pain points a developer may have. But, by no means is using an OPEN service a necessity in utilizing our base architecture, as that is antithetical to our primary ethos of bringing together the blockchain community. However, we do want to provide a set of tools anyone can turn to without having to trust a 3rd party, making them easily accessible and friendly to use.

People always tend to attract towards the open source products because they give them the flexibility. Pretty nice decision.

Exactly pynetx. Giving developers flexibility is what will help drive crypto adoption and foster a strong blockchain community.

OpenMoneyBTT

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Quote from: CryptoBry on December 04, 2017, 12:09:14 AM

Quote from: OpenMoneyBTT on December 02, 2017, 11:38:30 AM

OPEN has a mission to create an open source set of tools that anyone can choose to use in order to handle pain points a developer may have. But, by no means is using an OPEN service a necessity in utilizing our base architecture, as that is antithetical to our primary ethos of bringing together the blockchain community. However, we do want to provide a set of tools anyone can turn to without having to trust a 3rd party, making them easily accessible and friendly to use.

These tools can prove to be very useful for developers who might be just starting on the trade or those that do not want the inconvenience of using third-party platforms. I understand that there are indeed "birth pains" that a project has to go through and the infrastructure provided by OpenMoney would be of big help to lessen the burden and for newbies the learning curve. Can we say then that OPEN would be providing an all-in-one suite or package of tools?

You make some great points CryptoBry. The OPEN infrastructure serves as a turnkey framework that enables developers to deploy preexisting successful applications immediately onto a blockchain with ease.

ellerby123

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Quote from: OpenMoneyBTT on December 04, 2017, 10:08:31 AM

What is an oracle and why is it important?

An application's in-app prices for purchases should be listed in fiat currency as the price of cryptocurrencies often fluctuates greatly. Users will want to refer to this as a basepoint but also wish to use cryptocurrencies. To refer to accurate data on the price of the cryptocurrencies, an oracle is needed. They provide accurate information from a decentralized world (off-chain) to the blockchain world. There are a few potential oracle networks that may be used in the OPEN API, Chainlink, Oraclize, and GNOSIS. Speed and security will be the driving factors behind selecting an oracle.

Read more about it in our whitepaper!

Thanks for the update! Will look into this.

savantsam

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Activity: 60

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Quote from: OpenMoneyBTT on December 04, 2017, 10:08:31 AM

What is an oracle and why is it important?

An application's in-app prices for purchases should be listed in fiat currency as the price of cryptocurrencies often fluctuates greatly. Users will want to refer to this as a basepoint but also wish to use cryptocurrencies. To refer to accurate data on the price of the cryptocurrencies, an oracle is needed. They provide accurate information from a decentralized world (off-chain) to the blockchain world. There are a few potential oracle networks that may be used in the OPEN API, Chainlink, Oraclize, and GNOSIS. Speed and security will be the driving factors behind selecting an oracle.

Read more about it in our whitepaper!

That makes sense. The price is never stable so it is important to have a oracle to get the most accurate data. Thanks OPEN!

OpenMoneyBTT

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What is an oracle and why is it important?

An application's in-app prices for purchases should be listed in fiat currency as the price of cryptocurrencies often fluctuates greatly. Users will want to refer to this as a basepoint but also wish to use cryptocurrencies. To refer to accurate data on the price of the cryptocurrencies, an oracle is needed. They provide accurate information from a decentralized world (off-chain) to the blockchain world. There are a few potential oracle networks that may be used in the OPEN API, Chainlink, Oraclize, and GNOSIS. Speed and security will be the driving factors behind selecting an oracle.

Read more about it in our whitepaper!

pynetx

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Quote from: OpenMoneyBTT on December 02, 2017, 11:38:30 AM

OPEN has a mission to create an open source set of tools that anyone can choose to use in order to handle pain points a developer may have. But, by no means is using an OPEN service a necessity in utilizing our base architecture, as that is antithetical to our primary ethos of bringing together the blockchain community. However, we do want to provide a set of tools anyone can turn to without having to trust a 3rd party, making them easily accessible and friendly to use.

People always tend to attract towards the open source products because they give them the flexibility. Pretty nice decision.

CryptoBry

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Activity: 1008

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Quote from: OpenMoneyBTT on December 02, 2017, 11:38:30 AM

OPEN has a mission to create an open source set of tools that anyone can choose to use in order to handle pain points a developer may have. But, by no means is using an OPEN service a necessity in utilizing our base architecture, as that is antithetical to our primary ethos of bringing together the blockchain community. However, we do want to provide a set of tools anyone can turn to without having to trust a 3rd party, making them easily accessible and friendly to use.

These tools can prove to be very useful for developers who might be just starting on the trade or those that do not want the inconvenience of using third-party platforms. I understand that there are indeed "birth pains" that a project has to go through and the infrastructure provided by OpenMoney would be of big help to lessen the burden and for newbies the learning curve. Can we say then that OPEN would be providing an all-in-one suite or package of tools?

willlmon

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very good project dev and whether in this project will be held bunty or signature for project development good job it is project

ellerby123

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Quote from: OpenMoneyBTT on December 03, 2017, 12:36:23 PM

Quick question/thought for you guys:

What's keeping crypto from going mainstream?

I think the barrier to entry into crypto comes from the huge learning curve that implementing blockchain technology requires.

OpenMoneyBTT

full member

Activity: 224

Merit: 100

Quick question/thought for you guys:

What's keeping crypto from going mainstream?

OpenMoneyBTT

full member

Activity: 224

Merit: 100

Quote from: willlmon on December 02, 2017, 04:14:47 PM

very good project dev and whether in this project will be held bunty or signature for project development good job it is project

Thanks for your support! If you haven't already, check out our bounty program: http://go.openmoney.digital/kqte and Bounty Contest (over 50K participants!): http://bountycontest.openmoney.digital/2043 - lots of ways to win big prizes!

OpenMoneyBTT

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Quote from: ellerby123 on December 02, 2017, 04:12:49 PM

Quote from: OpenMoneyBTT on December 02, 2017, 11:38:30 AM

OPEN has a mission to create an open source set of tools that anyone can choose to use in order to handle pain points a developer may have. But, by no means is using an OPEN service a necessity in utilizing our base architecture, as that is antithetical to our primary ethos of bringing together the blockchain community. However, we do want to provide a set of tools anyone can turn to without having to trust a 3rd party, making them easily accessible and friendly to use.

I love the flexibility and choice you give to developers. Keep up the good work!

Thanks for your support ellerby123!

ellerby123

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Activity: 140

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Quote from: OpenMoneyBTT on December 02, 2017, 11:38:30 AM

OPEN has a mission to create an open source set of tools that anyone can choose to use in order to handle pain points a developer may have. But, by no means is using an OPEN service a necessity in utilizing our base architecture, as that is antithetical to our primary ethos of bringing together the blockchain community. However, we do want to provide a set of tools anyone can turn to without having to trust a 3rd party, making them easily accessible and friendly to use.

I love the flexibility and choice you give to developers. Keep up the good work!

OpenMoneyBTT

full member

Activity: 224

Merit: 100

OPEN has a mission to create an open source set of tools that anyone can choose to use in order to handle pain points a developer may have. But, by no means is using an OPEN service a necessity in utilizing our base architecture, as that is antithetical to our primary ethos of bringing together the blockchain community. However, we do want to provide a set of tools anyone can turn to without having to trust a 3rd party, making them easily accessible and friendly to use.

CryptoBry

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Quote from: OpenMoneyBTT on December 01, 2017, 07:22:42 PM

To answer your questions, Open enables developers to use off-chain components of their technology application stack (i.e a DB for instance) in whatever way the developer requires. This enables on-chain interactions of large volume databases/tables/user information whatever the requirement or scenario is.

Scalability and volume are elements that are done very well off-chain and will be done better off-chain then on-chain for a long time to come. That's why we're a little skeptic when we see some projects or ideas that indicate they are able to achieve X on-chain, whereas in reality that infrastructure is just not there. Currently the perspective is to not think of off-chain components related/replacements of decentralized architectures but more so to let off-chain architecture handle what it does best and think of decentralized or on-chain technologies to Enable new features outside of how a DB would behave for instance.

The OPEN API enables developers to function much like the Stripe API (Where we enable propagation between on/off chain and also simplify it at the same time, think of Twilio API and Send Grid API, making complicated technologies simple for developers to use in a flexible modular approach.)

Thanks for discussing it to us. Honestly, I am lost while reading the post but one thing I realized is how meticulous is OpenMoney when it comes to security. In our modern and interconnected world, online infrastructures have to seriously consider all aspects of security as any breach can be fatal to business and data privacy. I am looking forward for the full implementations of all these things and more soon.

SidneyShow

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Congratulations on the first day of winter! Is the date already known ICO. Will the company hold the ICO in 2017?

OpenMoneyBTT

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Merit: 100

to answer your questions, Open enables developers to use off-chain components of their technology application stack (i.e a DB for instance) in whatever way the developer requires. This enables on-chain interactions of large volume databases/tables/user information whatever the requirement or scenario is.

Scalability and volume are elements that are done very well off-chain and will be done better off-chain then on-chain for a long time to come. That's why we're a little skeptic when we see some projects or ideas that indicate they are able to achieve X on-chain, whereas in reality that infrastructure is just not there. Currently the perspective is to not think of off-chain components related/replacements of decentralized architectures but more so to let off-chain architecture handle what it does best and think of decentralized or on-chain technologies to Enable new features outside of how a DB would behave for instance.

the OPEN API enables developers to function much like the Stripe API (Where we enable propagation between on/off chain and also simplify it at the same time, think of Twilio API and Send Grid API, making complicated technologies simple for developers to use in a flexible modular approach.)

inspiredinvestor

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Quote from: OpenMoneyBTT on December 01, 2017, 10:06:08 AM

With OPEN, security vulnerabilities are orders of magnitude lower than alternative architectures and can easily be mitigated. As mentioned in our whitepaper, synchronizing on-chain data with off-chain databases is a notoriously difficult job, and too many ICOs take an approach that is either incredibly insecure, or forces the off-chain application to totally replace their existing database structure. Both of which provide a massive barrier to adoption.

OPEN’s architecture does not necessitate an entire backend overhaul and is largely independent of the data management system an application chooses to use as it doesn’t push on-chain data off-chain, rather relies on off-chain databases pulling on-chain information.This implementation is much more secure as it ultimately puts control in the hands of the application owner.

thanks for the update on OPEN. I am wondering how OPEN is preparing the off-chain databases servers for large volume and scalability?

savantsam

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Activity: 60

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Quote from: OpenMoneyBTT on December 01, 2017, 10:06:08 AM

With OPEN, security vulnerabilities are orders of magnitude lower than alternative architectures and can easily be mitigated. As mentioned in our whitepaper, synchronizing on-chain data with off-chain databases is a notoriously difficult job, and too many ICOs take an approach that is either incredibly insecure, or forces the off-chain application to totally replace their existing database structure. Both of which provide a massive barrier to adoption.

OPEN’s architecture does not necessitate an entire backend overhaul and is largely independent of the data management system an application chooses to use as it doesn’t push on-chain data off-chain, rather relies on off-chain databases pulling on-chain information.This implementation is much more secure as it ultimately puts control in the hands of the application owner.

Great to hear OPEN! This is why I follow OPEN, you guys give us what we need to enable crypto in-app purchases, while still giving us control over our own application!

ellerby123

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Activity: 140

Merit: 100

Quote from: OpenMoneyBTT on December 01, 2017, 10:06:08 AM

With OPEN, security vulnerabilities are orders of magnitude lower than alternative architectures and can easily be mitigated. As mentioned in our whitepaper, synchronizing on-chain data with off-chain databases is a notoriously difficult job, and too many ICOs take an approach that is either incredibly insecure, or forces the off-chain application to totally replace their existing database structure. Both of which provide a massive barrier to adoption.

OPEN’s architecture does not necessitate an entire backend overhaul and is largely independent of the data management system an application chooses to use as it doesn’t push on-chain data off-chain, rather relies on off-chain databases pulling on-chain information.This implementation is much more secure as it ultimately puts control in the hands of the application owner.

I'm glad to hear that developers do not have to completely overhaul their backends - that is a real pain.

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