Since the inspection of the Blockchain technology, the question of a centralized and a decentralized system have emerged. The Blockchains technology have raised more interest from investors globally due to an incredible promise of being an incorruptible ledger. When most people think of blockchains, they are referring to the decentralized or public blockchains like Bitcoin, ethereum which anyone can access and participate in. However, blockchain technology is not limited to being just decentralized as the centralized or private blockchains also have some advantages for corporations over the public ones. This brings about the similar comparison between the public and private blockchain technology. Both the centralized and decentralized blockchains have similarities as both are distributed peer to peer networks where every node is responsible for storing and securing the shared ledger. These type of blockchains also have to provide upper and lower bounds on the security and efficiency of the network. Centralization on its own is said to be the regulation of an activity or organization under a single authority; while on the other hand a decentralized system is the movement of departments of a large organization away from a single administrative center to other locations. A Decentralized blockchains like Bitcoin and ethereum, which is the most popular blockchain in the worldwide, have very high security measures because of the enormous amount of mining resources that go in to secure the blockchain network. In other to coordinate a successful attack on the Bitcoin and ethereum network; a malicious actor would have to acquire a massive amount of resources which is economical. Another advantage is that anyone can use the network to send funds to any part of the world without going through an intermediary. This leads to a system called the OPEN PLATFORM. The OPEN PLATFORM is designed to help facilitate the connection between a centralized and a decentralized systems. It is referred to as the foundation for the first decentralized API platform for a centralized applications.
With the OPEN platform, interaction on the blockchain technology is possible, thereby making gateway for a decentralized payment for verification which can accommodate more flexibility on numerous pricing schemes that is required for any conventional or unconventional applications as the case maybe. This decentralized system provides a stacked solution that can connects and generate a secure connections of user payments to a centralized database. The diagram below shows how the OPEN money infrastructure is enabled:
BENEFITS OF USING THE OPEN PLATFORM
- It enabled many traditional applications to utilize the block chain technology.
- It creates a payment gateway solutions for developers.
- It makes switching from a centralized to a decentralized payment gateway easy and possible.
- It helps to reduce the amount of blockchain knowledge required.
- The OPEN API enabled developers to easily translate to any languages.
- It enables application developers to accept cryptocurrency payments.
THE OPEN TOKEN
OPEN token shows a unique utility that enable developers to adopt the mechanism of the OPEN platform, it also supports the community users while powering while powering growth for applicants to integrate the OPEN platform.
Token Symbol: OPEN
Token type: Ethereum (ERC-20) Compatible
Total Supply: 1,000,000,000 OPEN
OPEN Platform is a decentralized blockchain technology, whose aim is to sort the differences and provides solution for the centralized and decentralized blockchain technology. It is an amazing system with great rewards for software developer and users.
THE OPEN TEAM
OPEN Platform team of experts are shown below:
FOR MORE INFORMATION