So when ripple came around and leveraged blockchain technology to revolutionize global corporate payments, you must have thought, “That’s as good as it gets with blockchain.” Well, you couldn’t have been more wrong.
Say hello to the OPEN Chain. This new technology now enables developers to seamlessly integrate blockchain as a payment gateway, just as they would Stripe.
Translation; you can now make in-app or web purchases using your favorite crypto. But that’s not the best part.
OPEN is now trading publicly on the Kucoin exchange; which of course was the next best thing to happen to the crypto-currency market when it launched mid-last year.
If the investor in you is already asking, “Well, what’s in it for me?” the good news is that you can now cash in on the buzz and hype around OPEN while it’s hot and steaming. The supported trading pairs include OPEN/BTC and OPEN/ETH.
With Ripple dulling our hopes about being the next best thing after Bitcoin, and with Bitcoin itself taking a massive slump in value and popularity, many were left wondering about the next move with their stash of crypto.
Well, here’s a clue; you’ll be impressed by the “who is who” that’s backing OPEN and why you should too.
These Key Backers Love OPEN Chain
The array of partners backing the OPEN Chain project is quite impressive. Although you can access the full list here, a few notable mentions include Draper Dragon, NEO, Dahnua Capital, Reflective Ventures and RChain – most of whom backed projects like Zilliqa, Sora, VeChain, and ICON.
The team they’ve got running the project also features a host of notable figures who’ll have your head nodding.
We’re talking Will Bunker (former Match.com president), Lorne Lantz (PayPal Partner and Payments entrepreneur), Roger Lim (NEO Global Capital), John Gardiner (pioneering partner for Facebook Messenger Games & Apps platform), Andrew Leung (Lead Architect and Design on Grindr app), and Steven Zhang (received backing from MaRSDD and Velocity Accelerator at UW), among others.
TL: DR, why should I Be Interested In OPEN Platform?
Over $400B worth of liquid digital currency lies in the blockchain yet developers have been having a major problem getting a piece of this action.
There was just no easy way to integrate crypto into mainstream digital apps, decentralized apps (DApps) and websites.
The ease that Stripe has brought to the payment processing is exactly what has been lacking for cryptocurrencies.
And this is exactly what OPEN Chain brings to the table; enabling apps, d-apps and web applications to accept payment in ny cryptocurrency, on any smart contract blockchain, using any application payment scheme.
The OPEN Chain platform – the first of its kind – now makes it possible for applications and the blockchain to interact seamlessly while still maintaining the decentralization of payment but at the same time providing developer’s app databases with the necessary transaction information that maintains sanity in the marketplace.
Like the time of transaction, transaction amount, what user, what account number, that sort of thing.
Here’s The catch; deploying OPEN Chain is as easy WordPress or Stripe. Your grandma could do it (well, sort of).
That’s another reason why Kucoin is going crazy since launching OPEN with the OPEN/BTC and OPEN/ETH trading pairs. Deploying OPEN Chain is so easy; it merely invites mainstream application adoption.
All it takes is adding a few lines of code to an app, decentralized app (d-app) or even website code and you’re set up to accept payments in virtually any crypto. (Surely grandma can do that, no?).
Imagine making payments in Candy Crush, for your next Uber ride or for your Netflix subscription using your favorite crypto. It’s just crazy.
There’s something unique and interesting about the workings of the OPEN Chain platform that sets it apart.
It’s almost impossible to break it into a more palatable version than you’ll find in their pitch deck without throwing in a little OPEN Chain jargon but let’s give it a go, shall we?
How exactly does The OPEN Chain work? What’s unique?
Initially, developers interested in integrating blockchain as a payment system had to learn a bit of that blockchain’s language (solidity, rholang) to be able to interact with the APIs. With OPEN API, those days are over.
Now, using the OPEN API and a system OPEN calls the scaffold system’, developers only have to deploy the OPEN Chain architecture into their backend, the OPEN API and Scaffold system do the rest.
The OPEN Chain infrastructure is “blockchain agnostic” as they call it. Meaning it supports any smart contract blockchain. It’s fully interoperable.
So every day developers simply decide what crypto they would like to accept without any complexity.
OPEN truly is defining the future for the mainstream adoption of cryptocurrencies and blockchain technologies with great ease; a feat blockchain enthusiasts eagerly look forward to.
Why You Should Already Be At The Kucoin Exchange Securing You Some OPEN
OPEN seems to be here to salvage the ailing crypto market.
With Bitcoin transactions now so slow and unreliable no one wants to accept it, and with Ether having its limitations, it seems almost a no-brainer which horse to back right now.
The catch when it comes to investing in crypto is buying the RIGHT coin cheap; EARLY. Wait too long and the ship sails on you. At least that’s how we all felt with the explosion of Bitcoin.
Sooner than later as the Kucoin-OPEN news starts making rounds, FOMO will catch the mainstream and the price will skyrocket.
If you’re just as excited – as you should be – head over to KuCoin. Again, the currently supported trading pairs are OPEN/BTC and OPEN/ETH.
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