We have been collecting feedback from our community, while we have gained interest from capitals and developers; it seems that some of our terms are a little bit too technical for the masses to grasp. Hence here’s FST Network explained and simplified 🙂
FST Network : FST Network is a multiple Blockchain adaptive solution aiming to connect all Blockchain Protocol and provide the necessary tool-kits to allow Enterprise to easily build their blockchain application
Layer 3 Blockchain Solution : A middle layer between Blockchain Protocol and Applications that allows businesses to connect to Blockchain Protocol via traditional web development, for example API, SDK. The implementation of layer 3 blockchain is best shown by our Midgard ( Relay Network ).
Software Mining : In order to support and maintain the Blockchain Protocols, FST Network has created a second layer for mining via smart contract to allow users to play a part in the ecosystem, validating and packaging transactions for the tokens / protocols they choose.
Relay Network ( Midgard ) : A smart contract created environment, that allows participants ( Relayers ) to collect and compact token transfers to increase operation capacity and removing the need of using native token of the protocol that the token is attached to. ( Example : ERC20 token holders do not need to pay Eth as gas to make a token transfer after participating FST’s Relay Network )
**Relayer can earn token transaction fee when packaging token transfer
Cross-chain Network ( Bifrost ) : A series of Smart Contracts and off-chain infrastructure that connects different Blockchain Protocols that allows participants ( Endorsers ) to perform verification among chains to implement cross-chain settlement. **Endorsers can earn token transaction fee when verifying transactions
Modules : Deconstructed complex Blockchain technology in the form of diverse and secure units which greatly reduces the technical know-how and development costs for businesses to build blockchain applications. The modules can be connected with each other and cooperate with tokens that is under our Service-Friendly Token Standard.
FST Token : The access key to FST Network ecosystem, stake tokens to qualify as a node to be relayers and endorsers.
Service-Friendly Token: A Token Standard that greatly reduced the difficulty of integration with smart contracts and traditional software, achieving complex operations of business logics such as triggering serial smart contracts continuously.
Application Token Standard : An extension of Service-Friendly Token Standard working as a sub-ledger, enabling enterprises to have multiple ledgers with various structures and flexibly supporting different scenarios of business.