OpenST Mosaic draft sketches

OST releases OpenST Protocol 0.9.3 — fully decentralizing the OpenST Protocol gateway

Jason Goldberg
Jul 25, 2018 · 7 min read

Presents more details on the OpenST Mosaic layer-2 scaling solution for Ethereum

The OpenST Protocol is a framework for building highly scalable blockchain token economies.

  • OpenST 0.9.1 was released by the OpenST Foundation in December 2017 on Ethereum mainnet. With OpenST 0.9.1 any developer could build applications on OpenST and improve on (or even fork) the OpenST Protocol. With OpenST 0.9.1 anyone could also run their own OpenST utility chain according to the Protocol specifications.
  • The OST Company contributed OpenST 0.9.2 to the community in March 2018 along with the first alpha releases of OST KIT, OST’s blockchain developer toolkit for businesses, built on OpenST. OpenST 0.9.2 improved on prior OpenST releases by enabling “payments” between Branded Token [“BT”] holders and by providing REST APIs for OpenST. This enabled OST Company to launch OST KIT Alpha I and Alpha II earlier this year, which provided simple web-based dashboards and APIs for developers to stake OST (on testnet) towards minting their own branded tokens on OpenST utility chains (by establishing a fixed conversion rate from OST to BT), setting up various types of transaction types between BT holders (including user-to-user transactions, company-to-user, airdrops, and user-to-company), and integrating BT’s into mainstream apps to enable in-app events to trigger BT transactions and transfers. OST is currently in Alpha III with 200+ development teams participating.

OpenST Gateway Overview

At a technical level, the OpenST Protocol introduces the concept of a gateway between the Ethereum value chain and OpenST utility chains, consisting of 3 elements:

  1. A corresponding co-gateway contract on a utility chain.
  2. A transformation function “t” that acts on tokens types defined on the value chain to transformed tokens on the utility chain.

OpenST 0.9.3 Released

With the release of OpenST 0.9.3 the gateway in OpenST is fully decentralised and any actor can move ownership across the gateway, transforming value tokens on Ethereum into utility tokens on the utility chains and back. The process currently requires the user to be online and submit transactions to two blockchains.

OpenST Mosaic Update

Alongside the work on gateways in OpenST 0.9.3, our teams have also been making good progress on OpenST Mosaic which will eventually completely decentralize OpenST Protocol and enable it to run autonomously.

  • OpenST Mosaic will be usable by any Ethereum DApp, including existing ERC20 tokens.
  • OpenST Mosaic will eventually completely decentralize OpenST Protocol and enable it to run autonomously.

Future Developments

The OpenST Protocol team is now pushing forward on OpenST 0.9.4, which improves the interface between the OpenST-Mosaic as a layer-2 scaling solution and OST KIT.

ostdotcom

Seamlessly integrate crypto micro-transactions into any app.

ostdotcom

Seamlessly integrate crypto micro-transactions into any app. OST Platform is the first full-featured “no-code” blockchain platform — a set of unified dashboards, APIs, SDKs, and protocols that any business can use. Launching the Pepo app in autumn 2019 https://pepo.com/

Jason Goldberg

Written by

Founder, CEO, product at Pepo, Ost Technology, openst, mosaicdao.

ostdotcom

Seamlessly integrate crypto micro-transactions into any app. OST Platform is the first full-featured “no-code” blockchain platform — a set of unified dashboards, APIs, SDKs, and protocols that any business can use. Launching the Pepo app in autumn 2019 https://pepo.com/