OpenST is a public blockchain platform that serves businesses with millions of users. OpenST improves our blockchain toolkit with new features and practical solutions. OST is a cryptocurrency of the OpenST platform and can be used to create and issue tokens in the OpenST protocol, and can also be used to pay for OST solutions.

Project Introduction

OpenST Mosaic is an overview consensus engine that improves Ethereum's transaction throughput by leveraging proof-of-work to protect large amounts of utility blockchains. OpenST Mosaic introduces a second-level consensus rule for open validators, providing an economical end to transactions executed on the OpenST utility chain and representing values ​​that are still placed securely on Ethereum.
Since OpenST Mosaic asynchronously couples the value chain to the utility chain, the number of utility chains that Ethereum can support simultaneously is not tight. OpenST Mosaic further expands Ethereum’s growth capabilities as a blockchain coverage network. The OpenST utility chain also expands the established ETH gas market to cover transaction costs, but the utility chain can operate at a lower cost, as the OpenST Mosaic validator can be deployed in a collaborative environment protected by Ethereum adversarial proof of work.

Project Vision

OST provides a solution and tool to help enterprises, communities and individuals create their own branded tokens and build their own digital currency economic system. Just like we use wordpress to create a website, it provides a framework and template, as well as a visual interface and simple operation process, without writing any code, non-programmers and developers can also get started quickly.

Project Highlights

Simple tokens can help any company (from globally renowned brands to emerging application manufacturers) issue "branded tokens", thus transforming the company into a dynamic economic ecosystem. Using this protocol can make the creation, sale, distribution and maintenance of tokens easier, so that companies can focus on running their companies without worrying about blockchain technology. simple token supports customized needs and tailors brand tokens for enterprises.

Technical Overview

Build a bridge
Since blockchain technology is still so fresh and exciting, it is also considered difficult and expensive for everyday developers or companies. However, the possibility of application of blockchain technology is wide and applicable to most industries.
In the blockchain space, there is a gap in the fact that people in the blockchain space are either competing or competing with ICOs to try to fund their startups. However, Simple Token believes they can even avoid this competitive market. Simple Token hopes they can be tools to help mainstream applications develop and deploy their own brand cryptocurrency economy. The benefit of this, they say, is that these applications can leverage blockchain businesses without having to build and maintain their own publicly traded cryptocurrencies.

Difficulty in running an ICO
While ICOs are popular, they are not as simple as people think. Many countries are imposing strict restrictions on ICO products, most of which are purely for raising funds, not for specific product uses. There are signs that 90% of ICOs and altcoins will fail, and in addition to this, they will also affect the operation of core business.

Keep open source
The OpenST protocol, which is the basis of Simple Token, is open source and has been used by developers. The first point-to-point integration has been completed. Although the application of blockchain technology has reached new heights with the popularity of digital currencies such as Bitcoin, it is still a relatively small market.
Simple Token is this view: Due to the difficulty of transferring business solutions to blockchain, not all businesses that can use it. Therefore, Simple Token hopes to be a solution to bring mainstream applications into blockchain so that they can keep up with the trend of technological changes.

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