{"id":3965,"date":"2022-03-05T19:59:39","date_gmt":"2022-03-05T19:59:39","guid":{"rendered":"http:\/\/smart.onlinesarafi.com\/index.php\/2022\/03\/05\/ost-whitepaper\/"},"modified":"2022-03-05T19:59:39","modified_gmt":"2022-03-05T19:59:39","slug":"ost-whitepaper","status":"publish","type":"post","link":"https:\/\/smart.onlinesarafi.com\/index.php\/2022\/03\/05\/ost-whitepaper\/","title":{"rendered":"OST Whitepaper"},"content":{"rendered":"<div id=\"post-626\">\n<div class=\"entry-content\" readability=\"57.321796071094\">\n<p>Abstract<\/p>\n<p>Simple Token [\u201cOST\u201d] is an EIP20 token and OpenST is a protocol to support token economies<br \/>in mainstream consumer applications. The business and technical challenge we set out to solve<br \/>is to enable mainstream consumer applications to benefit from deploying their own branded<br \/>crypto-backed token economies, in a scalable and cryptographically auditable manner, without<br \/>needing to mint and maintain their own publicly-tradeable EIP20 tokens.<br \/>The OpenST protocol enables the creation of utility tokens on a utility blockchain while the value<br \/>of those tokens is backed by staked crypto-assets on a value blockchain.<\/p>\n<p>In the first part of the paper we outline the protocol and in the second part we explain how the<br \/>protocol can be applied to build the OpenST Platform which allows companies to stake OST on<br \/>Ethereum mainnet to create branded tokens to use within their applications. Mainstream<br \/>consumer applications can use the OpenST Platform to have a simple, integrated development<br \/>experience to tokenize and build their economy with their user base.<\/p>\n<p>Building on OpenST also enables participating companies to benefit from network effects across<br \/>the participating companies that would be much harder for companies to achieve on their own.<br \/>Such benefits accrue to both the companies and their end-users; by being part of an open<br \/>network of networks end-users can earn and spend seamlessly between different consumer<br \/>applications.<\/p>\n<p>With OpenST Protocol, we build on the active work of great teams in the decentralization space<br \/>and we refer to them where appropriate and in detail in the Related Work section. Simple<br \/>Token solves for the user experience problem currently slowing down mainstream adoption of<br \/>cryptographically secure tokens thereby enabling crypto-economics within consumer<br \/>applications. Meaningfully addressing this problem requires an orchestrated effort of economic,<br \/>legal, and technological engineering. In this technical white paper we focus on the mechanisms<br \/>for the OpenST protocol. It is intended as a complement to the OST Project &#038; Vision Deck and<br \/>the Simple Token sidepapers.<\/p>\n<p> <a href=\"https:\/\/ost.com\/\" target='_blank\"' rel=\"noopener\"> OST Website<\/a> <br \/><a href=\"https:\/\/drive.google.com\/file\/d\/0Bwgf8QuAEOb7Z2xIeUlLd21DSjQ\/view\" target='_blank\"' rel=\"noopener\"> OST Whitepaper <\/a> <strong><\/strong><\/p>\n<p>Social<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Abstract Simple Token [\u201cOST\u201d] is an EIP20 token and OpenST is a protocol to support token economiesin mainstream consumer applications. The business and technical challenge we set out to solveis to enable mainstream consumer applications to benefit from deploying their own brandedcrypto-backed token economies, in a scalable and cryptographically auditable manner, withoutneeding to mint and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3965","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/3965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/comments?post=3965"}],"version-history":[{"count":1,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/3965\/revisions"}],"predecessor-version":[{"id":3966,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/3965\/revisions\/3966"}],"wp:attachment":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/media?parent=3965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/categories?post=3965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/tags?post=3965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}