Openchain Blockchain Technology | Enterprise Development Solutions >

Openchain blockchain is a relatively new blockchain technology. It is an open source distributed ledger technology well-suited for organizations desiring to issue and manage digital assets in a more secure and scalable way.

Consensus Model:

Its’ consensus algorithm differs from other Bitcoin-like systems. It uses Partionned Consensus; every Openchain instance can have one authority to validate transactions. Instead of one centralized ledger, each organization can have its Openchain instance. Those instances can communicate with each other.

Depending on the exchanged assets, different authorities can validate different transaction requests.

Consequently, every asset issuer can control the transaction process related to the asset.

Use Cases of Openchain Blockchain:

Used as a general ledger of ownership aimed to achieve these use cases:

  • Securities like bonds and stocks
  • Currencies; Fiat and Cryptocurrencies
  • Titles of Ownership, Land Titles, Software Licensing
  • Commodities; Gold and Oil,

Why It’s Better than other blockchains that use Proof of Concept:

Openchain Blockchain is more efficient than other systems using Proof of Work:

It utilizes a client-server architecture, which is significantly more reliable and efficient, compared to a P2P (peer-to-peer) architecture.

Since there’s no miner, the asset administrator directly validates the transactions. Since there’s no miner, trades are quick and free-of-cost.

Why Choose Us for Openchain Blockchain Development? 

With us, avail Blockchain Development Solutions using the Openchain Development Suite.

With the help of Openchain APIs Development, we develop blockchain applications like:

  • Smart Contracts
  • Digital Wallet Applications
  • Exchange Platforms and more

Related Relevant Work

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Oodles | Blockchain Development Company

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