BASED ON PRIVATE KEYS
Each Opendime holds one private key.
It publishes the public key (payment address) to anyone and never reveals the key until “unsealed”.
PIGGY-BANK ECONOMICS !?
Yes. It’s like a piggy-bank.
You must destroy it to spend the funds.
At first that seems expensive and wasteful, but it’s a key part of our security model: you can trust a sealed Opendime, and it’s obvious when it’s been opened.
INSTANT AND OFF-CHAIN
Since we are putting private keys into a physical form you can trust, you can simply hand around Opendime units to move amounts around.
There are no pre-defined Bitcoin amounts with Opendime either.
Store as much or as little as needed.