Recap from OST LIVE with CEO Jason Goldberg: 9 Updates on OST — Alpha Mainnet Release, Bounty Challenge, OpenST Mosaic, OpenST 0.9.4, OpenST.js + more!
OST is building blockchain infrastructure to empower new economies. OST technology is enabling blockchain to scale for mainstream apps with tens of millions of users, for startups, and for the DApps of the future. The OST technology stack consists of:
- Blockchain infrastructure: scalability, security, and platform technology.
- Developer tools to make it really easy for developers to build and deploy blockchain solutions.
- Wallet and Exchange technology to enable mass-market adoption and utility of crypto assets.
On OST LIVE this week, OST CEO Jason Goldberg walked the community through 9 project updates. Watch CEO Jason Goldberg speak to some of OST’s latest updates and releases.
#1 — Project Status
Over the past 9 months, OST has followed a consistent strategy and plan focused on product development and delivering results. The team has built the OST technology stack hand-in-hand with the developer community and informed by developer teams and partners around the world.
Over the course of 2018, the OST technology stack was developed and OpenST Protocol evolved from versions 0.9.1, 0.9.2, to 0.9.3, and soon 0.9.4. Several alpha challenges were held, in which the global developer community was able to build on OST and provide feedback so that OST can build infrastructure and tools that meet the needs of real businesses.
Some highlights as of 12 September, 2018:
- More than 150 development teams have built on OST already.
- OST’s signed partners with a combined reach of more than 200M end-consumers.
- OST KIT & OpenST 0.9.2 used by 120+ external developer teams on Testnet
- OST KIT & OpenST 0.9.2 used by 10+ external partners on Mainnet — 3 months ahead of schedule
- OpenST 0.9.3 (cross-chain messaging) — completed
- OpenST 0.9.4 (decentralized keys engine & token rules engine) — in progress
- OpenST Mosaic Protocol is being presented at several events in September 2018 to solicit community feedback
OST is making great progress and is ahead of schedule on some important items listed on the 2017–2021 roadmap.
#2 — OST KIT Mainnet Release
In that roadmap OST planned the first Mainnet alpha of OST KIT (OST’s developer tools for partners to stake OST to mint Branded Tokens and for them to manage their token economies) in December of 2018. Last week, OST achieved this Mainnet “stake & mint” milestone with a silent release of OST KIT on Mainnet, several months ahead of schedule.
Several OST partners have already staked real OST on mainnet and minted their first branded tokens, including: Unsplash.com, Gushcloud.com, Connectscale.com, Tribecoin.com, Traipse.com, LGBT Foundation (Hornet), Fainin.com, License.rocks, Radmule.com, Twilala, Touriocity.com, Rlay
#3 — OST Bounty Challenge
OST just released the first OST Mainnet Bounty challenge with more than 400,000 OST available for eligible vulnerability reports. An economy called “Bounty Coin” was created on OST KIT Mainnet Alpha 1 and staked 300,000 OST to mint approximately one million Bounty Coin on a utility chain.
The bounty challenges any participant to find a security vulnerability that allows him/her to transfer OST that is staked on Ethereum Mainnet to any unintended address. First person to get it, keeps it. Additional bounties are available for eligible vulnerability submissions with a detailed step-by-step report on how to reproduce the challenge. OST will evaluate each reported security issue and will award tokens based on the severity of each verified vulnerability.
#4 — Unveiling of OpenST Mosaic
A year ago in September 2017 OST introduced OpenST Protocol for Staking value tokens on Ethereum for minting utility tokens on auxiliary chains. One year later, In September 2018 OST is rolling out the new OpenST Mosaic Protocol which works with the original OpenST Protocol to scale apps on Ethereum. OpenST is a major innovation for scaling apps on Ethereum.
Recently, Chief Blockchain Strategist Ben Bollen has given several presentations about OpenST Mosaic, including the first detailed presentation of OpenST Mosaic at ETHBerlin. CEO Jason Goldberg and Ben Bollen are presenting OpenST Mosaic at the Upbit Developer Conference in Jeju Korea on September 13th.
Over the next 90 days, OST hopes to establish Mosaic as one of the 5 major industry projects for scaling Ethereum, alongside Casper, Sharding, Payment Channels Plasma. Current scaling solutions include:
- Plasma: scale each app off-chain; data-availability problem
- Payment channels don’t have smart contracts
- Casper + Sharding = Ethereum v2.0
- Mosaic = Sharding at Layer 2, on-chain, finalised on ETH v1.0.
The OpenST Protocol enables businesses with millions of customers to run their heavy transaction loads on auxiliary blockchains, off of public ethereum, but still on open Ethereum-based blockchains with open validator pools.
OpenST Mosaic is a consensus protocol to run meta-blockchains on top of Ethereum to seal OpenST transactions.
- Each meta-blockchain runs in parallel and injects an additional state space into Ethereum.
- Each meta-blockchain is secured by Ethereum with an open, staked validator set.
- All transactions on meta-blockchains are asynchronously finalised and committed onto Ethereum.
OpenST + OpenST Mosaic = enable high volume apps to run transactions on open, public, Ethereum-based blockchains, with all transactions asynchronously and efficiently proven back on public Ethereum. This enables OST to scale blockchain economies for businesses with millions of customers, today. OST will release the Mosaic white paper at end of September.
#5 — OpenST 0.9.4
Alongside OpenST Mosaic, OST has also been making rapid progress on OpenST 0.9.4 which is on schedule for end September release. OpenST 0.9.4 adds decentralized keys engine & token rules engine. The decentralized keys engine enables end-users to hold Branded Tokens without having to manage their own private key, while also projecting their private key from anyone else holding it. The token rules engine enables smart contracts to be easily created to match to the business logic of our partner companies.
#6 — OpenST.js & Mosaic.js
Along with OpenST 0.9.4, OST is also finalizing work on OpenST.js: A collection of pre-written JavaScript which allows for easier development of DApps that want to deploy and interact with token, token holder, token rules, and token rule contracts.
Mosaic.JS will also be released soon to enable developers to interact easily with Mosaic.
#7 — New Partners
OST has brought on-boarded Passkit as a new partner. Passkit is a mobile digital wallet platform that provides businesses with the tools and infrastructure to create engaging programs that foster true loyalty PassKit plans to launch a distributed loyalty token, DisLoyal.T, on OST technology and the OpenST and OpenST Mosaic Protocols.
50,000 businesses already use PassKit to connect and engage with over 250 million people worldwide. Check out our interview with CEO Paul Tomes:
#8 — OST Now Available on IDCM Exchange and Coinsuper
OST is now available for purchase on IDCM and Coinsuper. IDCM is one of the fastest growing cryptocurrency exchanges focused on Korea, Vietnam, Hong Kong, and Dubai. Coinsuper is one of Hong Kong’s largest exchanges.
#9 — Upcoming at OST
By the end of September, OST will release the Mosaic white paper and OpenST Protocol 0.9.4.
Later this year, OpenST.JS and Mosaic.JS will be released.
In 2018, OST will continue Mainnet testing of the OpenST Protocol.
In 2019, OST will release Mosaic alpha, Mosaic beta (warm up validator pool), widespread deployments of OST, OpenST, Mosaic to mainstream businesses and DApps, and smart contract calls across auxiliary chains. For a full scope of what to expect from OST, please view OST’s 4 year project roadmap.
OST will be presenting Mosaic at the Upbit Developer Conference, in South Korea on 14 September. The team will also be attending the Hashed Lounge Conference to present Origin Protocol & OST Simple Token on September 14th in Seoul. Lastly, be sure to tune in OST LIVE tomorrow as the Best of Alpha III participants join us to share their experience with building a stellar OST Proof of Concept.
About OST
OST blockchain infrastructure empowers new economies. OST is a public blockchain platform designed for the needs of businesses with millions of users. Launch your own Branded Tokens with OST technology and turn your business into a dynamic ecosystem. OST is built on the OpenST Protocol, a framework for building highly scalable blockchain token economies. OST has offices in Berlin, New York, Hong Kong, and Pune. For more information, please visit: https://ost.com.
