OpenST Mosaic — scaling Ethereum to Internet-grade websites and apps
A lot of people talk about implementing scalable blockchain technology. At OST we are heads-down working on inventing it and implementing it.
The OpenST protocol — at the heart of OST — allows for the staking of $OST tokens on Ethereum against minting Branded Tokens (e.g. any company’s brand, like “Unsplash Token”) on open, scalable, cryptographically auditable utility blockchains. This enables Internet-grade applications to scale token transfers on open public blockchains by moving the high volume of transactions off of public Ethereum, while retaining the essential Ethereum properties.
In this month’s OST update we discuss OpenST Mosaic for the first time, which is all about scaling Ethereum to Internet grade apps.
OpenST Mosaic is an open, Proof-of-Stake economic finality incentive system that rewards a decentralized network of sealers with transaction fees (in $OST tokens) for their securing Branded Token transfers and transactions on the OpenST utility chains.
The open validator set of OpenST Mosaic will secure the token transactions on the OpenST utility chains by providing economic finality for them on Ethereum, which is what is required to redeem a Branded Token and unstake the equivalent amount of $OST.
OpenST Mosaic is a cornerstone technology for OpenST and contributes back to the Ethereum ecosystem with a new tool to scale and compute more efficiently on Ethereum mainnet.
Thank you to OST co-founder and Chief Blockchain Scientist Benjamin Bollen for your leadership and vision on OpenST Mosaic. And, thanks to the entire OST team for your current work to prove out the OpenST Mosaic theories and components.
We look forward to sharing the OpenST Mosaic specifications with the Ethereum development community in the coming weeks and months and getting early feedback.