http://opentransactions.org/wiki/index.php?title=About
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Financial Instruments
These instruments are all analogous to the same financial instruments that we all use at normal banks today. Everyone already has an intuitive understanding of these financial instruments, because we use them regularly in our normal daily lives.
Markets, Basket Currencies, and Smart Contracts
- Users can transfer digital assets securely and provably, with receipts signed by all parties.
- Even an OT server cannot change balances, or forge transactions--since it cannot forge your signature on your receipt.
- Open-Transactions supports a range of financial instruments such as account transfer, cheques and vouchers (aka "cashier's cheques" or "banker's cheques"), in addition to cash.
These instruments are all analogous to the same financial instruments that we all use at normal banks today. Everyone already has an intuitive understanding of these financial instruments, because we use them regularly in our normal daily lives.
Markets, Basket Currencies, and Smart Contracts
- Open-Transactions also implements higher-level, contract-based transactions such as payment plans and markets with trades.
- The markets on Open-Transactions support market orders, limit orders, fill-or-kill orders, day orders, stop orders, and stop limits, just like trading on a real market.
- Basket currencies are also supported, as well as payment plans (recurring payments.)
- Smart contracts: Multi-party agreements with scriptable clauses... including hooks, callbacks, internal state, etc.
- Client-side scripting: !/usr/bin/env ot The entire (mostly) high and low level OT API is available within your scripts.