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OpenST is a public blockchain platform serving enterprises with millions of users. OpenST improves our blockchain toolkit through new features and practical solutions. OST is the cryptocurrency of the OpenST platform, which can be used to create and issue tokens within the OpenST protocol, as well as for payments for OST solutions.
Project Introduction
OpenST Mosaic is an overlay consensus engine that boosts Ethereums transaction throughput by securing a multitude of utility blockchains through proof-of-work. OpenST Mosaic introduces second-layer consensus rules for open validators, providing economic finality for transactions executed on the OpenST utility chain while representing values still securely anchored on Ethereum.
Since OpenST Mosaic asynchronously couples the value chain to the utility chain, the number of utility chains Ethereum can concurrently support isnt strained. OpenST Mosaic further extends Ethereums growth capacity as a blockchain overlay network. OpenST utility chains also expand the established ETH gas market to cover transaction costs, but operate at lower costs because OpenST Mosaic validators can be deployed in a cooperative environment protected by Ethereums adversarial proof-of-work.
Project Vision
OST offers a solution and tools for businesses, communities, and individuals to create their own branded tokens, crafting their digital currency economies. Much like using Wordpress to create websites, it provides a framework and templates, along with a visual interface and simple workflow, requiring no code writing, allowing non-programmers and developers to quickly get started.
Project Highlights
Simple Token enables any company, from global brands to emerging app makers, to issue "branded tokens," transforming them into dynamic economic ecosystems. Using this protocol makes the creation, sale, distribution, and maintenance of tokens simpler, allowing companies to focus on running their business without worrying about blockchain technology. Simple Token supports custom needs, tailoring branded tokens specifically for each enterprise.
Tech Overview
Building Bridges
Given that blockchain technology is still so fresh and exciting, it is also considered difficult and expensive for everyday developers or companies. However, the potential applications of blockchain technology span across most industries.
In the blockchain space, there is a gap where blockchain insiders are either competing against each other or competing with ICOs to fund their startups. Yet, Simple Token believes they can avoid this competitive market altogether. Simple Token aims to become a tool that helps mainstream apps develop and deploy their own branded cryptocurrency economies. They argue that the benefit of doing so is that these apps can leverage blockchain business without having to establish and maintain their own publicly traded cryptocurrencies.
The Challenges of Running an ICO
While ICOs are popular, they arent as straightforward as people might think. Many countries are placing strict restrictions on ICO products, and most ICOs are purely for fundraising rather than for specific product purposes. There are indications that 90% of ICOs and altcoins will fail, and beyond that, they detract from core business operations.
Staying Open Source
The OpenST protocol underlying Simple Token is open-source and is already being utilized by developers, with the first peer-to-peer integration completed. Although blockchain technology has reached new heights with the popularity of cryptocurrencies like Bitcoin, it remains a relatively small market.
Simple Token holds the view that due to the difficulties of moving business solutions onto the blockchain, not all companies that could use it are doing so. Therefore, Simple Token seeks to become a solution that allows mainstream apps to enter the blockchain space so that they can keep up with the changing technological tide.
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