This article was first published on ostdotcom - Medium
Video: Benjamin Bollen provides an update on OpenST Protocol, openst.js, and OpenST Mosaic at Berlin Ethereum Meetup — 28 August 2018
Talk sets table for formal introduction of OpenST Mosaic at ETH Berlin on 7 September, 2018
This September OST introduces the OpenST Mosaic protocol for scaling Ethereum to thousands of transactions per second. Our featured presentation is at @ETHBerlin on 7 September: “Running Meta-Blockchains to Scale Ethereum” by OST’s Benjamin Bollen. The introduction of OpenST Mosaic will be accompanied by a draft of the OpenST Mosaic paper and release of openst.js and mosaic.js.
OPENST MOSAIC PAPER ABSTRACT: OpenST Mosaic is a protocol for running meta-blockchains on Ethereum to scale DApps to thousands of transactions per second. OpenST Mosaic is a set of Byzantine fault tolerant (BFT) meta-blockchains defined in smart contracts on Ethereum. A meta-blockchain has an open set of validators staked on Ethereum, and each block is committed by a super-majority vote. Mosaic introduces BFT consensus rules that allow validators to leverage more efficient auxiliary systems running in parallel for block production, while millions of transactions can be finalised before the header is asynchronously committed to Ethereum. Ethereum remains the sole source of truth by locking value tokens on Ethereum while minting a utility token representation on the auxiliary systems. Validators get rewarded collaboratively based on gas consumed thereby solving for the verifier’s dilemma. As a result Mosaic can finalise thousands of transactions per second on Ethereum at a lower gas price. We have built an atomic gateway protocol that Ethereum DApps can deploy to leverage Mosaic to scale.
@benjaminbollen gave a preview of some of the OpenST Mosaic concepts live on 28 August 2018 at the Technical University in Berlin.
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