Unveiling Openchain, an open source distributed ledger technology

logo-square-color-2We are very excited to be announcing today the launch of Openchain. Openchain is an open source distributed ledger.

Here is a quick summary of the features of Openchain:

  1. Instant confirmation of transactions.
  2. No mining fees.
  3. Extremely high scalability.
  4. Secured through digital signatures.
  5. Immutability: Commit an anchor in the Bitcoin Blockchain to benefit from the irreversibility of its Proof of Work.
  6. Assign aliases to users instead of using base-58 addresses.
  7. Multiple levels of control:
  • Fully open ledger that can be joined anonymously.
  • Closed-loop ledger where participants must be approved by the administrator.
  • A mix of the above where approved users enjoy more rights than anonymous users.
  1. Hierarchical account system allowing to set permissions at any level.
    closedloop-2
  2. Transparency and auditability of transactions.
  3. Handle loss or theft of private keys without any loss to the end users.
  4. Ability to have multiple Openchain instances replicating from each other.

Today, we are shipping a number of things:

  • The website Openchain.org, with some high level information about Openchain.
  • The source code of Openchain has been released on GitHub.
  • A web-based wallet, which has two main function: you can use it as a wallet to transact. It also has some admin features, which you can use if you have the administrator key.
  • Some deployment instruction to let you deploy your own instance of Openchain.
  • A test instance (test.openchain.org), which you can use from the wallet to quickly try out Openchain.
  • A forum for people to discuss the technology and ask questions.

If you want to get started with Openchain, check the wallet, and start issuing your own asset and transacting with it.

You may also like...