Mobile application developers face many obstacles with the current system of application monetization. These difficulties include:
- Expensive transaction fees (up to 30% fees)
- Cash flow Delays (60-90 day payment processing)
- Centralized governance (App Store/Google Play)
A decentralized payment system that leverages blockchain would solve many of the problems faced by application developers, and at the same time, provide important benefits:
- Instant Transactions: Using a decentralized payment system that accepts cryptocurrencies allows developers to receive payments directly in their wallets. This overcomes the difficulties with cash flow, where a user payment can take 60-90 days to reach an application developer.
- Affordable Transaction Fees: Since a decentralized payment does not suffer from the same inefficiencies of a centralized system, transaction fees will only get cheaper as more individuals join the market and the system is optimized.
- Decentralized benefits: With a decentralized payment system, it is possible to bypass the inefficiencies of traditional payment processors. Decentralized hosting is an option, freeing the developer from restrictions imposed by institutions like the App Store and Google Play.
OPEN Platform makes it easy for developers to utilize Blockchain Payment Systems
OPEN Platform has a mission to make it easy for application developers to reap the benefits of cryptocurrency payments, by integrating their applications with decentralized payment systems. An application developer can use the OPEN API to effortlessly set up their application’s payment scheme and begin accepting any cryptocurrency. The OPEN Platform abstracts away the complexity of the blockchain and smart contracts, leaving developers to do what they do best — create.
Application Integration Takes Minutes
On the OPEN Platform, a developer can integrate a payment scheme onto their application in a few simple steps:
- A mobile app developer sets up an OPEN Wallet.
- A mobile app developer creates a specific payment schema for their application and connects it to their OPEN Wallet.
Now, all the developer has to do is copy and paste the OPEN API into their application code, and their payment system is up.
The end result is a simple, decentralized payment gateway that provides transparency and efficiency for all parties involved. This gives the developer the ability to:
- Add new payment options
- Instantly change prices
- Port OPEN payments onto other blockchains (like Neo and RChain)
The Future of Mobile App Payments
Today, application developers are waiting to experience the autonomy that can be provided by decentralized payments. Not only will the decentralized payment system enabled by OPEN make accepting payments more profitable for developers, it will make it easier for end-users to pay for digital goods with cryptocurrency. This helps bring cryptocurrency adoption to the mainstream. The future is OPEN!
For more information download the OPEN white paper here.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…
Sylo launches game-changing solution Oya and announces integration with Tezos
Software development company Sylo has officially launched Oya today – a complete reimagining of its backend architecture. The company said the new product “leads the way for mainstream decentralization.” Sylo’s goal is to democratize access to communication and financial capabilities, without sacrificing privacy, personal data and user experience. Additionally, Sylo has deployed wallet support for public blockchain Tezos in their multi-chain wallet-messenger decentralized app, the Sylo Smart Wallet, which currently has over 250,000 users around the world.
“We’ve solved the hard issues of scalability, performance and fair-reward in a decentralised setting, allowing developers to build apps with a real competitive advantage. The launch of Oya brings our vision of a future worth looking forward to, a whole lot closer and we’re really excited about what can be built on this new decentralised foundation,” said Ben Jordan, Sylo Co-Founder and Product Director, in a statement.
“The Oya Launch opens the door to a plethora of new features and business opportunities, many of which we will be unveiling over the next two quarters,” said Dorian Johannink, Sylo Co-Founder and Business Director.
The Tezos blockchain supporting firm TZ APAC is advising Sylo on technical integration of Tezos, to improve developer experience and increase adoption of the Sylo wallet in…