“We want to democratize API publishing and consumption by making the process easier, safer and less expensive,” said Stefan Roever, founder and CEO at AIKON.
San Mateo, Calif. (PRWEB) April 10, 2018
AIKON, an R&D technology company serving the decentralized economy, released a whitepaper describing its work on a decentralized API marketplace for managing and commercializing off-chain API assets on the blockchain.
The company, which has raised $2 million in funding, previously unveiled the Open Rights Exchange (ORE) Protocol, which aims to function as an API Rights Management system with a stable payment component, using the blockchain to manage access rights to any type of off-chain API interactions and enabling on-chain transaction processing for these assets.
The whitepaper reveals more about the ORE Protocol and Network that underpins the API marketplace, and how it will provide a universal method to map any API asset onto the blockchain and validate that asset, thus bridging the gap between the crypto world and the off-chain world for developers.
The Platform will use a dual-token infrastructure to facilitate commerce:
1. The ORE Token is used to incentivize network participants to perform essential network functions, such as storing and testing assets. ORE is also used to reward miners for validating that assets perform as advertised.
2. The CPU Token is a stable currency intended to be used to pay for assets and designed for ease of use and minimal volatility. The currency is backed by cloud computing processing power, meaning that every unit of CPU entitles the holder to a specific amount of compute power.
CPU helps reduce friction and risk for both API consumers and providers, while ORE brings governance and network quality. As a further payment option, AIKON will also provide ORE-enabled API interfaces to third-party payment gateways, enabling the sale of assets via credit card, bank transfer, or other more traditional methods.
The whitepaper also provides more detail on the burgeoning API market and AIKON’s differentiated approach to helping developers more easily access this significant business opportunity. 80 percent of large enterprises are already making more than $5 million per year in revenue from APIs (Source: Mulesoft). Ovum Research has estimated that in 2018, the API economy will hit $2.2 trillion, and despite increased developer interest in blockchain, there are still many hurdles preventing developers from participating in this nascent market. AIKON’s offering will not require developers to know anything about blockchain technology; they will only need to install a simple Javascript library to use the platform.
“We want to democratize API publishing and consumption by making the process easier, safer and less expensive,” said Stefan Roever, founder and CEO at AIKON. “We firmly believe the ORE Protocol and decentralized API marketplace are necessary to create a truly decentralized economy, where everyone can contribute and innovation is propelled on a global scale.” that anyone can contribute to and that will spur innovation on a global scale.”
To learn more about AIKON and the Open Rights Exchange Protocol, visit http://www.aikon.com, join Team AIKON on Telegram, or sign up to be alerted when the public alpha is available for testing at https://aikon.com/sign-up.html.
About AIKON
Founded in 2017 by an encryption technology pioneer, a former political operative and a banking veteran, AIKON’s vision is to build technology products that decentralize and catalyze the global digital economy. AIKON believes that the world must become a decentralized global economy to facilitate worldwide collaboration and equal opportunity regardless of location, background, or easy access to banks or credit cards. AIKON has raised $2 million from Palo Alto-based OVO Fund and various angel investors from the U.S., Japan and Europe.