Account Owner Address: The Ethereum address associated with your OST account during initial set-up. This address can be the public address of your MetaMask account or you can choose to associate a hardware wallet address, also via MetaMask. This is an important address; in OST Platform v2 you will not be able to sign any admin transactions without this key. In future versions we will enable multi-sig capabilities to create new admin addresses.
Action: An activity that results in a transaction or token transfer.
Admin: An OST Platform manager that can use all the functionality of OST Platform except for minting Brand Tokens or setting the account owner address.
Auxiliary Chains (or Utility Chain): Highly scalable open sidechains that run in parallel to ethereum and are used for offloading high transaction volumes.
Brand Tokens (BTs): Brand Tokens, also referred to as brand currency, are white-label cryptocurrency tokens running on highly-scalable OST sidechains, supported by staking value tokens (such as the OST Token) on Ethereum mainnet.
Company-To-User Transaction: A transaction where the client company is the sender and the economy user is the receiver.
Conversion Rate: The conversion rate establishes a fixed rate of exchange between BT and OST. Once you have complete token setup, the conversion rate is fixed and cannot be changed.
Interoperability: The ability for users to easily swap brand tokens across the OST Network.
Meta-blockchains: A meta-blockchain composes transactions executed on an auxiliary blockchain system onto an origin blockchain, such that the capacity of the origin blockchain extends and the auxiliary blockchain inherits the security properties of the origin blockchain.
MetaMask: A self-hosted Ethereum wallet required for using OST Platform. Learn more.
Mint: The process of generating Brand Tokens. Minting accepts the stake request and approves the staking process to begin.
Mnemonic Phrase (or Seed Phrase): A secret 12-word backup code used to recover access to a crypto wallet.
OpenST Mosaic: OpenST Mosaic, also referred to as Mosaic Protocol, is a scaling solution for finalizing many thousands of transactions per second asynchronously at low cost on Ethereum as it works today.
OpenST Protocol: The OpenST Protocol enables the creation of Brand Tokens on side blockchains, backed by staked cryptoassets on Ethereum. Transactions of Branded Tokens occur on the sidechains which are vastly faster and cheaper to process than Ethereum mainchain transactions.
OpenST.js: OpenST.js is a library that helps developers integrate the functionality of the OpenST contracts in their (D)Apps.
OST Wallet SDK: An SDK that enables end-users to comfortably and safely interact with Brand Tokens within existing mass-market mobile apps. Developers can integrate Brand Tokens into any app without encumbering the user experience, and take advantage of OST’s innovative wallet recovery methods.
OST Network: The OST Network is a marketplace connecting all Redemption Partners working with OST. Partner Companies connect to this marketplace with existing Apps, providing users convenient ways to spend their BT through an ever expanding array of liquidity options.
OST Platform: OST Platform is the first full-featured “no-code” blockchain platform — a set of unified dashboards, APIs, SDKs, and protocols that any business can use to easily test and deploy their own brand currency without requiring any in-house blockchain development.
OST Platform Sandbox: OST Platform Sandbox is the test environment in OST Platform. Brand Tokens minted in the sandbox environment hold no value. Token names and identifiers are not guaranteed until created in OST Platform Production.
OST Platform Production: OST Platform Production is the live environment in OST Platform. Any actions in the production environment will reflect on the Ethereum blockchain.
OST-Test: A test representation of OST cryptocurrency that tracks the public market value of OST. The value of OST-Test is updated hourly based on the public trading value of OST on Binance exchange. OST-Test can only be used within the sandbox environment; it has no monetary value.
Origin Chain (Value Chain): The blockchain holding the stake value, OST uses Ethereum as the origin chain. Other common terms include main chain and parent chain.
Pricer or (PricerRule Contract): Can be used to transfer an amount of brand tokens based on fiat amount. You will have to specify the fiat currency code and the amount in fiat currency. This amount will then be converted into brand token and then the transfer will happen in brand token.
Rules Contracts: A rule contract, also known as a custom rule, is a single action in a token economy. Custom rules are the business logic to an application, built into the token rules contract. A developer can use custom rules to define the use of tokens in the token economy. Examples include air drops, escrow, and minimum requirements. Learn more.
Server Side SDKs: The OST Platform Server SDKs provide your application with various methods for different services like users, tokens, wallet services corresponding to an end-user of the economy. They will be used for server to server interactions and they will be paired with the relevant wallet SDK. They can also be paired with your web application.
SessionKeys (or Ephemeral Keys): A temporary session-based key used to sign in-app transactions on behalf of the user. The user automatically authorizes a session when they enter their PIN or biometrics.
Session: A duration of time during which sessionKeys can seamlessly sign a transaction on behalf of the user for in-app transactions. Users can configure session spending limit and duration.
Super Admin (or Owner): An OST Platform account manager that can link an Ethereum address through MetaMask and create Brand Tokens by staking OST.
Stake: A reserve of locked tokens that support the value of your Brand Tokens.
Stake and Mint: The process of staking OST to mint Brand Tokens.
Token Economy: A loyalty platform where brand currency serves as a medium for payments and rewards. Token economies are a new direct to consumer model that uses a social currency to improve retention and incentivize desired actions.
TokenHolder Contracts: A contract that enables end-users to own and transfer tokens without requiring end-users to directly manage their private crypto keys. Learn more.
TokenRules Contracts: A contract that maintains a list of the rules contracts that can execute transfers in a given Token Economy. Learn more.
Token Name: The full name of a token. Only letters, numbers, and spaces allowed, at a maximum of 20 characters and 3 words (e.g. Ethereum Name Service). Special characters are not allowed.
Token Identifier: A short 3 or 4 character code for your token similar to currency, such as EUR, BTC, AAPL.
User Initiated Transaction: A transaction where the economy user is the sender and another economy user or company is the receiver.