Blockchain technology for the enterprise

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Want to to try it?

Try our wallet

What is Openchain?

Openchain is an open source distributed ledger technology. It is suited for organizations wishing to issue and manage digital assets in a robust, secure and scalable way.
  • Anyone can spin up a new Openchain instance within seconds.
  • The administrator of an Openchain instance defines the rules of the ledger.
  • End-users can exchange value on the ledger according to those rules.
  • Every transaction on the ledger is digitally signed, like with Bitcoin.

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How does it work?

The consensus mechanism used by Openchain differs from other Bitcoin-based systems, it uses Partionned Consensus:
  • Every Openchain instance only has one authority validating transactions.
  • Instead of one single central ledger, each organization controls their own Openchain instance. Instances can connect to each other.
  • Different transactions will be validated by different authorities depending on the assets being exchanged.
  • Every asset issuer has full control on the transactions relevant to that asset.

More efficient

Openchain is more efficient than systems that use Proof of Work:
  • Openchain uses a client-server architecture which is more efficient and reliable than a peer-to-peer architecture.
  • There is no miner, transactions are directly validated by the asset administrator.
  • Since there is no miner, transactions are instant and free.

Modular design

  • Validators validate and store transactions.
  • Observers receive a read-only copy of the ledger. They do their own validation of the ledger and store their own copy.
  • Validators and observers expose standard HTTP-based APIs.
  • Clients and wallets connect to validators to submit digitally signed transactions.
  • Smart contracts are independent actors receiving and sending transactions according to arbitrary business logic.
  • Gateways create 2-way pegging between two Openchain instances. They can also peg the Openchain instance as a sidechain of the Bitcoin Blockchain.

What are the use cases?

Openchain is a generic register of ownership. It can be modelled to work with an immense number of use cases:
  • Securities like stocks and bonds, commodities like gold and oil, currencies like the Dollar or even Bitcoin.
  • Titles of ownership like land titles, music or software licensing.
  • Gift cards and loyalty points.

Try the wallet

Because an Openchain node exposes a simple HTTP endpoint, it's easy to build a wallet or client application, but we are providing a basic open source wallet for testing purposes.
Try the basic Openchain wallet. Connect to the development server provided by Coinprism, or see below to spin up your own server.
$ git clone openchain
$ cd openchain
$ cp templates/server.yml docker-compose.yml
$ mkdir data
$ cp templates/config.json data/config.json
$ nano data/config.json
$ docker-compose up -d

Create your own server instance

It only takes a few seconds to spin up a new instance of Openchain server.
  • Create an instance, and use it to issue your own digital asset, and distribute it to people.
  • Openchain is free and open source: you don't have to spend or buy any crypto-currency to use it.

Who are we?

Openchain is developed by Coinprism, the company behind the colored coins standard Open Assets.
Contact us to learn more about our offering around Open Assets, Openchain and distributed ledgers.