If you collect this amount before the end of ISO, will you terminate the company ahead of schedule? Or you will be able to sell additional tokens to the end of ISO and why 18, this is not a very large amount.

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What is an oracle and why is it important?

An application's in-app prices for purchases should be listed in fiat currency as the price of cryptocurrencies often fluctuates greatly. Users will want to refer to this as a basepoint but also wish to use cryptocurrencies. To refer to accurate data on the price of the cryptocurrencies, an oracle is needed. They provide accurate information from a decentralized world (off-chain) to the blockchain world. There are a few potential oracle networks that may be used in the OPEN API, Chainlink, Oraclize, and GNOSIS. Speed and security will be the driving factors behind selecting an oracle.

Read more about it in our whitepaper!

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One of the unique aspects of our solution for developers to accept cryptocurrency for their in-app purchases is the Scaffold. The Scaffold is a smart contract that bridges the gap between the developer’s database and the user. They can be created through our API and customized to suit the developer who doesn't need to know or learn a blockchain specific programming language like Solidity.

Each Scaffold is created for a specific in-app product or subscription. When payment is sent from the user to the Scaffold, the Scaffold automatically transfers payment to the developer and returns to the User a State that represents the purchase.

For example, a Scaffold can be customized to issue subscriber status for a customer. The Scaffold will ultimately accept cryptocurrency from the user, provide the user with a subscriber state, and immediately send payment to the developer. No more lag time for developers to accept payment!

The OPEN scaffold is very modular and can be implemented with minimal modifications to their application. The OPEN API makes this a seamless and simple operation. Find in depth details and use cases regarding the Scaffold system in our whitepaper!

One of our most important architecture ideas is that not every aspect of every app needs to be decentralized. There are still advantages to centralized systems. There are clear benefits when applied correctly to solve a problem and not all situations call for a blockchain solution. In OPEN Platform’s case, the problem we address is the in-app purchasing system: how payments are received and ultimately affect an application’s centralized platform. The application database is complex and protected, necessary for the developer. Attempting to apply a blockchain for the database would not be practical; loss of efficiency and re-work by the developer.

The centralized systems that are replaced by our blockchain solution are all the payment channels needed today: user’s bank, merchant bank, payment provider, etc. Our Scaffold smart contracts allow payment to be direct between User and Developer. The Scaffold also acts as a link between the User and the Application Database. Payment for the specific purchase can be confirmed and affect the Database, completing the transaction.

The advantage for this solution is clear, avoiding the fees imposed by those centralized payment entities, accepting cryptocurrency, and instant access to the transaction funds. Selectively applying blockchain technology can provide great benefits for a system, leaving the centralized and decentralized portions to do what they do best. For a more comprehensive description of the OPEN Platform solution, please have a look at our whitepaper!

Developers who wish to develop applications (games or others) utilizing the blockchain should rely on a mix of on-chain and off-chain application architecture with respect to their application stack, especially until the Ethereum network has resovled its scaling issues.

 Off-Chain - Utilizing a traditional database or application layer for an application's heavy lifting. There is nothing wrong with utilizing a database for what it's meant to do, and helps to keep only components of an application that can truly benefit from being decentralized on-chain.

On-Chain - Relying on what blockchains are good at now, on-chain components of an application could very well just focus on payments, ownership of digital assets, game assets bought with cryptocurrency, and authorization/verification that you indeed bought x item to interact with smart contracts that are part of application.

Game settings, design algorithms (i.e the GeneScience or KittyAccessControl code in CryptoKitties), admin aspects, pricing models, should be done off-chain if utilizing something like OPEN.

Want more info? Check out our white paper!

Thank you for making the distinction between On-Chain and Off-Chain components in an application! I will definitely look into this further.

That makes sense. Thanks for clarifying!