Feb 28, 2018
Introducing OPEN Scaffold and The OPEN API
Enable your application to accept users automatically and verify purchasers on the blockchain.
Manage Volatility in accepting cryptocurrency with your application.
Enable the benefits of decentralized architecture and the strength of your backend together.
- The Open Money token will utilize a smart contract on the blockchain, equipped with measures to prevent fraud and improve monetization options
- OPEN Token will be the currency used to make in-app purchases with the APIs, however the platform will fully support and accept all major digital tokens
The technical architecture of Open Money's implementation is split into two main elements: the Open Platform REST API itself as well as an SDK with support for JS, iOS, Android and React-Native. The Open Money SDK enables functionality of the platform on behalf of the software developer. SDK functionality includes tasks required to access platform features such as handling all communication and payment processes between the developer’s backend and the Open Money backend, managing developer accounts, and security related processes.
Attention. There is a risk that unverified members are not actually members of the team
$18 000 000
OPEN Platform is the first company on the market providing the feature of integrating cryptocurrency payments into existing applications and therefore has a lot of opportunities and advantages. Considering the idea, team, whitepaper, and roadmap, we see an outstanding project and the team that will definitely conduct a top ICO campaign.An excellent project being the first on market and led by an excellent team is promising to become one of the top ICOs of this year.
I like open platform, but I feel that their hard cap is just a little bit too high relative to the team’s strengths. In a bull market I would be bullish on the project but because the markets are very unstable at the moment, I do think they’re asking for too much money.Open platform basically wants to create an agnostic payment solution and this is going to be integrating crypto currencies into existing applications. They have a working product.The market for Stripe or PayPal alternatives in the crypto space is very very saturated. You`ve got Manisa, YouTrust, CoinBase and many other competitors.I am bullish on the project and I think if the market does pick up this could do quite well, but again to get in at the early stages I’m hesitant. For the token economics I gave it 40 out of 100 the reason for that is the hard cap.With the team I think they have a very competent team but not a world-class team so I gave them 60 out of 100.For hype I think these guys have got a lot of hype behind them. (70 out of 100).
Overall, we are neutral about both the flipping and long-term potential of this ICO. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:For flippingNeutral. The hard cap of $30 million is on the high side in this market and at the current ether price. We don’t see anything especially standout about this project to warrant a high unmet demand. For long-term holdingNeutral. We see 3 areas of focus for Open Platform (targeting existing applications, broader online merchants, or dApps), none of which is compelling as detailed in our “Concerns” section. Also, the 3% transaction value to fund the Developer Growth Pool adds up very quickly for applications, making it less appealing to use the platform.Therefore, we are uncertain about the level of adoption Open Platform will have.
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