Topic: Open Platform makes it easy for applications to integrate with and accept crypto (Read 96 times)

Open Platform makes it easy for applications to integrate with and accept cryptocurrencies as payments.

There are several of components that create the OPEN platform, such as Scaffolds, OPEN_states, the OPENWallet, and Developer Wallet.

Scaffolds are blockchain agnostic, general structure smart contracts which will act as the payment processor. They can be changed to suit the company’s payment model (i.e. subscription payment model, one time payments, in-game payments, etc), adding a lot of utility to blockchain payment systems.

Depending on how the scaffold is set up with a program, a user can pay for a service, or an in-game currency, and, in return, they get an OPEN_state, which represents the access to a promised service, or the number of in-game currency that person has.

The OPENWallet is one where a users’ cryptocurrencies and OPEN_states are stored. This wallet is then used as an access point for whichever program they are using, depending on what the OPEN_state represents.

The Developer Wallet is where the funds being paid into a scaffold end up going. This will utilize the OmiseGO SDK, which grants developers flexibility in choosing the kind of currency their wallet will receive.

They propose these components will come together, along with an easy to use API, to provide apps, developers, and businesses with a useful blockchain payment system.