OpenChat, Open Source, and Open Innovation On The Internet Computer Protocol Blockchain
OpenChat, the Internet Computer Protocol's native fully on-chain decentralized chat messenger software open sourced its source code. Plans to Tokenize with DAO.
OpenChat is an Internet Computer Protocol-based chat messenger service. Users can message other users or participate in group conversations, as well as send tokens via OpenChat.
What's unique about OpenChat is that it is entirely hosted on-the blockchain and is completely free to use. Users just need an internet connection and a browser to use the OpenChat app.
With OpenChat, your chat account doubles as a DeFi wallet, allowing you to send tokens like ICP and BTC within chats.
Why does open-sourcing matter?
Open-sourcing code is significant for a variety of reasons, the most important of which is that it allows people to view, use, and contribute to the code. It can increase transparency and improve the adoption of the product.
Open Sourcing is particularly important in cryptocurrency since it lowers the trust component associated with the project.
It's quite revolutionary since an on-chain smart contract hosting a chat service eliminates the interference or influence of untrustworthy centralized parties that do not value users' privacy. Internet Computer Protocol is the only blockchain capable of practically hosting an internet-scale blockchain-based chat messenger such as OpenChat.
The fact that the smart contract application is open-sourced just encourages additional developers to create open internet services.
OpenChat is a decentralized messaging network that prioritizes privacy and sovereignty.
This smooth on-chain dapp is the result of many iterations over the past year.
OpenChat features include:
BTC & ICP wallet in profile
Send tokens via chats without paying gas.
Create and Interact in groups
Create threads and pin chats
Send Multimedia such as GIFs and Photos entirely on-chain
On-chain message bots are also possible via OpenChat.
OpenChat developers have notified the community that the platform will soon be tokenized using a feature of Internet Computer, where users may govern the network through tokens utilizing turn key DAOs that improve the protocol in a modular manner.
Some of the upcoming features to expect from OpenChat according to the current roadmap
Furthermore, the entire software is hosted entirely on the Internet Computer Blockchain without relying on corporate cloud or other storage services for hosting.
On-chain Storage with On-chain Compute on the IC
Hosting such a service on-chain makes it unstoppable because blockchains are not likely to go down as frequently as cloud hosting.
The only parties involved will be users and smart contracts
Even the on-chain chats and data can be private because the Internet Computer Protocol's smart contracts can keep data secret, and encrypt information and messages exchanged between two users.
Furthermore, because the system is decentralized, there is no single point of failure, and no one can control it.
This also implies that surveillance will be alleviated, and people will be able to communicate freely without being tracked by a centralized authority.
ICP's autonomous internet scale smart contracts will communicate and compute everything on-chain, automating the majority of the processes needed in the development and management of software via turn key DAOs.
OpenChat is Global and Will be Governed by A DAO
OpenChat connects users regardless of their location, which benefits everyone by allowing them to send messages or crypto tokens to anybody anywhere in the globe in a cost-effective manner without relying on intermediaries or being bothered by geographical restrictions.
When the software was deployed on the Internet Computer Protocol Blockchain, it instantly became a worldwide software.
The governance tokens will be auctioned on-chain using Service Nervous System's Decentralization Auctions feature, in which users will burn ICP utility tokens to obtain equivalent $CHAT tokens. Well-distributed governance tokens ensure better governance and more decentralization of the network.
OpenChat is intended to safeguard users against privacy breaches by being completely decentralized and entirely on-chain, which means it can never be shut down, restricted, owned, or controlled by any single authority, even the government.
Smart Contracts As A Service
Each user may spawn their own smart contract canister, which they manage, and where their data like as profile data, token balances, and conversations, are safely saved.
The solution has been developed to be simple to use and inexpensive for consumers.
With ICP tokens, users may expand their on-chain storage on demand. Users just need to create an account via their Internet Identity authentication system. Users that register their phone number will receive more storage. There’s no such thing as free lunch, and I expect to eventually see more burn mechanisms for storage and premium features such as more bandwidth/blockspace on OC.
The app also features a referral system where users can share their referral link with other users, which, if utilized, would reward the sharer with governance tokens.
OpenChat will be one of the first apps to use the SNS system and Tokenize via DAO auctions on the Internet Computer.
OpenChat Twitter | Check out OpenChat on-chain using your browser - oc.app
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