The OpenFiat protocol, in full
Every chapter is published here as a web page — no download required, nothing behind a form. It assumes no prior blockchain experience and builds up from what money is.
28 chapters · ~38k words · ~3h 10m read
Published in English
The whitepaper and specifications have not been translated yet. Translation is listed as a community contribution area in Chapter 25; this page's navigation is localized but the document text is the original English.
- 00PrefaceOpenFiat began with a simple observation: despite more than a decade of innovation in blockchain technology, exchanging digital assets for local fiat…
- 01Executive SummaryOpenFiat is an open, decentralized peer-to-peer marketplace protocol designed to enable the secure exchange of stablecoins for local fiat currencies without…
- 02Why OpenFiat ExistsMoney is one of humanity's oldest and most important inventions.
- 03Design PhilosophyEvery successful technology is guided by a set of principles.
- 04System ArchitectureThe previous chapters explained why OpenFiat exists and the principles that guide its development.
- 05The OpenFiat Network Protocol (OFNP)Every decentralized system requires a method by which independent computers discover one another, exchange information, synchronize state, and remain…
- 06The OpenFiat MarketplaceAt its core, OpenFiat is a marketplace.
- 07The OpenFiat Trade Protocol (OFTP)The OpenFiat Trade Protocol (OFTP) defines the complete lifecycle of every trade conducted on the OpenFiat network.
- 08The OpenFiat Liquidity Vault ArchitectureThe most fundamental question in any peer-to-peer marketplace is:
- 09The OpenFiat Reputation EngineA decentralized marketplace cannot rely on customer support teams or centralized administrators to determine who is trustworthy.
- 10The OpenFiat Marketplace Risk EngineFinancial marketplaces are constantly changing.
- 11The OpenFiat Dispute Resolution ProtocolNo marketplace can completely eliminate disputes.
- 12The OpenFiat Governance ProtocolA decentralized protocol cannot depend indefinitely on its original developers.
- 13The OpenFiat Token EconomyEvery decentralized protocol requires an economic system that aligns the interests of its participants.
- 14Genesis & Token DistributionEvery decentralized protocol begins with a genesis event.
- 15Staking & Economic SecurityThe security of OpenFiat is built upon economic incentives rather than centralized trust.
- 16Protocol Revenue & TreasuryA decentralized protocol must be economically sustainable.
- 17The OpenFiat NetworkOpenFiat is not a blockchain.expands ch. 5
- 18Node OperatorsNode operators are the backbone of the OpenFiat network.
- 19The Notification Gateway NetworkOpenFiat is designed to operate without centralized infrastructure.
- 20Security ModelSecurity is the foundation upon which OpenFiat is built.
- 21Developer ArchitectureOpenFiat is more than a decentralized marketplace.
- 22Deployment & OperationsDesigning a decentralized protocol is only part of the challenge.
- 23The OPEN Token EconomyOpenFiat is more than a decentralized peer-to-peer stablecoin marketplace.expands ch. 13
- 24Governance & Protocol EvolutionA decentralized protocol cannot depend upon a single company, development team, or individual to determine its future.expands ch. 12
- 25Reference Implementations & Open Source EcosystemOpenFiat is designed as an open protocol rather than a single application.
- 26Roadmap & Future VisionThe release of OpenFiat Version 1.0 is not the end of the project.
- 27ConclusionMoney is one of the oldest technologies in human civilization.