OST coin is a cryptocurrency that operates on the Ethereum platform. By providing developers with necessary APIs and SDKs, OST reaches a wide range of users through the integration of wallets, dashboards, and protocols with its partners.
OST (Simple Token) is a Blockchain as a Service (BaaS) platform that aims to make blockchain technologies mass-adoption-friendly by enabling businesses to create their own tokens. This platform allows businesses to create their own tokens without worrying about the technology behind tokens or legal requirements such as KYC.
OST coin aims to reduce the congestion on the Ethereum Blockchain. This is achieved through the OpenST Mosaic protocol, which was launched in alpha state in the first quarter of 2019. OpenST Mosaic uses metablockchains to provide internet-scale transaction volume on Ethereum.
While lightning-fast transactions take place in auxiliary blockchains, economic outcomes are provided asynchronously on the Ethereum blockchain. This increases the transaction volume of the Ethereum Blockchain, benefiting the Ethereum ecosystem.
Another goal of the project is to simplify the process of creating a community based on branded token incentives for consumer applications. By making technology easily accessible, it also eliminates the regulatory and financial burdens of creating and maintaining a branded token. This allows companies to focus on their own software or platforms, while the OST and OpenST protocols address all aspects of the token economy associated with blockchain.
One of the main use cases of OST coin is similar to frequent flyer programs and other loyalty programs. There are already companies that collaborate with OST and discover the launch of their own blockchain-based loyalty programs.