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Open – raises capital from Draper – assisting developers to incorporate blockchain into their apps

OPEN, a blockchain-based developer platform centered on providing payment infrastructure to mainstream application developers, Wednesday said it has received an investment from Tim Draper’s Draper Dragon Digital Asset Fund, though it didn’t disclose the amount.

The OPEN Platform aims to bridge the gap between traditional application developers and the coming era of blockchain technologies by providing a standardized infrastructure that interfaces the two architectures.

The company said the platform is designed to work with existing applications and new applications by enabling current applications to integrate OPEN’s technology without having to redevelop existing application stacks. In addition, a developer’s application can be ported to various smart-contract-based blockchains through a single integration by piggybacking off OPEN’s Scaffold.

“Most applications require the use of off-chain technologies, meaning traditional components that do not exist on blockchains such as a database to interact with transactions taking place on the blockchain, thus requiring applications to realistically require both on-chain and off-chain components,” the company explained in an email. “OPEN provides this missing infrastructure for developers to enable application backends to interface with blockchain wallets and the two-way communication of payment data between on-chain and off-chain systems.

Although OPEN is still in its early days, current application developer partners consist of both centralized and decentralized applications from a variety of categories from gaming to enterprise partners.

“Centralized applications, including leading entertainment platforms and mobile games, such as Netflix and Candy Crush, as well as newer decentralized applications, can incorporate OPEN’s accompanying payment rails applications needed to accept blockchain and cryptocurrency technologies in a way that applies to many current application infrastructures,” the company claimed.

Image: Open
Posted on April 2, 2018

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