Technology Partnership: Utilizing the OST Platform
New blockchain projects, cryptocurrencies, and ICOs are announced every week; taking us one step further to a decentralized world, often referred to as Web 3.0. But what exactly is Web 3.0 and why should you care?
Web 3.0 is the collective noun for a rather complex vision, which is why simply asking “What is Web 3.0?”, may get you dozens of different answers. One of the biggest difficulties in nailing down a definition or metric for evaluating Web 3.0 is the lack of a clear, distinct definition for it, especially compared to what we already know about Web 2.0.
Most people generally have some idea that Web 2.0 is an interactive and social web facilitating collaboration between people. This is distinct from the early, original state of the web (Web 1.0) which was a static information dump where people read websites but rarely interacted with them.
If we distill the essence of change between Web 1.0 and Web 2.0, we can derive an answer. Web 3.0 is the next fundamental change both in how platforms are created and more importantly, how people interact with them. This change requires a trusted source of information for all parties, where no central authority will be involved. Decentralization also means getting rid of middlemen — think banks, large social media platforms, or even governments — who have the power to decide if and when a transaction should occur.
This is why we are building Rlay — ‘the information validation protocol for decentralized applications (dApps).’ Our protocol aims to create a world where smart contracts will be fed with truthful, decentrally validated information.
But how can you build a house without the right foundation? Or to stay with smart contracts: How can you rely on their accuracy without the right information? Simple: You can’t. Therefore, we are very proud to announce OST as our technology partner. OST provides us with the essential blockchain infrastructure to launch the RLAY token. The OST company also participated in Rlay’s Seed Sale.
Moreover, OST’s CEO Jason Goldberg joined Rlay’s Board of Advisors to advise the team on its protocol development, company strategy and funding.
“The Rlay project harnesses the power of blockchain to expand on the concept of trustless systems by ensuring the input data used in smart contracts is verifiably genuine and incorruptible. It has been a delight to help seed and develop Rlay and we look forward to their implementing Rlay on OST and OpenST technology. While most OST partners to-date are taking mainstream apps onto the OpenST blockchain, partnering with Rlay provides a great opportunity for our teams to learn from entirely new web 3.0 protocols proving their capabilities and scalability on OpenST”
OST is building the complete blockchain infrastructure and toolkit for business. It strives to be the blockchain technology partner of choice for businesses of all sizes and levels of technical sophistication, enabling any business to create, launch, and manage their own branded digital token economy powered by OpenST protocols and OST blockchain management software. The OpenST protocol enables companies to launch branded token economies on highly scalable, open, cryptographically auditable side blockchains. OST has offices in Berlin, New York, Hong Kong, and Pune India.
For more information, please visit: https://ost.com/
