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What is OpenChain Technology?

This is a brief on what is OpenChain Technology and it's features.

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What is OpenChain Technology?

  1. 1. What Is OPENCHAIN Technology?
  2. 2. What is OpenChain? • An OpenChain provides an open source distributed ledger technology in the field of the blockchain. • This is mainly suited for organizations which manage digital assets in a secure, robust and adaptable way. Copyright© BlockchainCouncil 2
  3. 3. • Firstly, this platform gives the chance to know the confirmations of instant transaction. • An OpenChain technology does not require fees for mining. • The adaptability of this technology is easy and fast. • Furthermore, this technology is protected and secured with the help of digital signatures. • The Bitcoin blockchain is significant for its immutability. • The Proof of Work will assign an alias for users instead of using addresses as a base. Copyright© BlockchainCouncil 3 Sign Up Now Features of OpenChain:
  4. 4. • Multiple levels of control: o There are no restrictions to open a ledger because people can join it without any concern. o The administrator approves the participants of Close-loop ledger. o The anonymous members will not receive the benefits like the accepted ones. • The Hierarchical account system always sets the permissions at every level. • Therefore, there is a significant time transparency in the transactional system. Copyright© BlockchainCouncil 4 Sign Up Now
  5. 5. Is Openchaina blockchain? • OpenChain is a part of Blockchain technology. However, taking the term into consideration it is not a "Blockchain," but a close relative. • The data in blocks get structures, and they can directly order the blocks of cryptographical links and transaction done through hashing. • This technology never uses the concept that happens in the blocks. The interlinked transaction in this technology develops the groups in blocks. These blocks introduce a delay into this technology. • This technology is the best way to manage as well as reduce the block time to just a few seconds since it is still a long time for latency-sensitive applications such as the process of trading. Therefore, a more appropriate term for this technology is a "transaction chain" rather than a "Blockchain". Copyright© ToshendraSharma 5 Sign Up Now
  6. 6. Is Openchaina Sidechain? • We can always use the model of podule for bringing a perfect bridge between a Blockchain and an Openchain. • It is always particular about providing the address and giving a copy of coins to create the OpenChain. • Accordingly, these tokens can be redeemed to unlock the Bitcoins. • This model initiates a 2-way peg between Bitcoin and the Openchain and instance is the sidechain's behavior. Copyright© ToshendraSharma 6 Sign Up Now
  7. 7. OUR CONTACT DETAILS @chaincouncil WEBSITE: EMAIL: THANK YOU FOR YOUR TIME Copyright© BlockchainCouncil 7 Blockchain CouncilComPany: Sign Up Now