Simple Token

Overview of Simple Token

Simple Token enables any company to create, launch, and manage their own branded digital token economy on open and highly scalable side-chains anchored to the Ethereum mainnet, without in-depth blockchain development requirements.

Simple Token will fill that need, empowering any company — from a global brand to an emerging app maker — to issue what we call “branded tokens” that can transform its business into a dynamic economic ecosystem.

Simple Token enables various transactions types, including user incentives, customer rewards, peer-to-peer transactions, business-to-consumer transactions, recurring subscriptions, API monetization, and more.

Simple Token combines the “ST” ERC-20 token, an immediately usable protocol for consumer app tokenization, and a SaaS software solution for managing your token economy.

Simple Token operates as a Software as a Service (SaaS) platform that gives businesses the tools they need to manage, customize, and analyze their token economy.

Simple Token takes the approach of building its own blockchain–a side chain–on top of the Ethereum blockchain to help bring companies to the token party.

Simple Tokens are a library of shortcuts to frequently used words/phrases, which can be used as macros while documenting therapy notes in AccuMed EHR.

Simple Tokens (OST) were created during an ICO in December 2017 where 46,828 ETH, worth about $20 million, was used to purchase 261,070,175 tokens.

Simple Token worked with our PR team to amplify media hits and engaged with leading Crypto/Blockchain, Business, Tech writers and influencers.

Simple Token is led by Jason Goldberg (CEO), an internet entrepreneur with 18+ years of experience scaling products to millions of users.

Blockchain

The main feature of the platform is the ability to enable any app to tokenize their product and benefit from having aspects of their business on the blockchain with the assistance of Simple Token’s protocol.

Support

To view the Simple Token video tutorial Click Here or log into the AccuMed Support Site and search the knowledge base for key word Simple Tokens.

Transactions

What is JSON Web Token?

JSON Web Token (JWT) is an open standard (RFC 7519) that defines a compact and self-contained way for securely transmitting information between parties as a JSON object.This information can be verified and trusted because it is digitally signed.JWTs can be signed using a secret (with the HMAC algorithm) or a public/private key pair using RSA or ECDSA.

Can anyone create their own token?

Yes, simply download the Electron Cash wallet to create new tokens.

Why should I choose SLP for my project?

You should carefully review all of the available protocols on Bitcoin Cash for tokens.Some may be more suited to your purpose than others.We have listed many of the benefits of SLP above.

How Does Simple Token Work?

Simple Token allows businesses to launch their own branded token without going through the hassle or regulatory headaches of actually building their own token.

Did someone say login?

After implementing the registration, we should create a way for existing users to log in.Let’s think about it for a second.The register endpoint required us to create a user, hash a password, and issue a token.What will the login endpoint need us to implement? It should check if a user with the given email exists at all.But also check if the provided password matches the hashed password in the database.Only then will we want to issue a token.Add this to your AuthController.js.

Can you explain more on what you’re trying to do with Simple Token for Pepo? How is it going to change the function of Pepo once the protocol is applied?

We originally came up with the concept of Simple Token in 2016 when trying to develop a token economy for Pepo.Pepo is poised to launch a vibrant marketplace for local tips and reviews using Pepo Coin, powered by Simple Token.

How do token names and hash IDs work?

The initial genesis minting of a token is also a Bitcoin Cash transaction.The BCH transaction Id is then one and the same with the hash Id of the token.

How are Simple Tokens produced?

Simple Tokens (OST) were created during an ICO in December 2017 where 46,828 ETH, worth about $20 million, was used to purchase 261,070,175 tokens.The sale raised nearly double the initial target and was purchased by over 6,000 addresses.There is a total supply of 800,000,000 OST.

Do you have permission to be here?

To comprehend the logic behind an authorization strategy we need to wrap our head around something called middleware.Its name is self explanatory, to some extent, isn’t it? Middleware is a piece of code, a function in Node.js, that acts as a bridge between some parts of your code.

How does SLP handle decimal precision?

The Bitcoin protocol deals directly with smallest granular units, which are called satoshis, but amounts in wallets are often expressed in decimal format (i.e.3.0723432 BCH).A similar system is used in SLP; the protocol itself deals with integer units, but some tokens are better displayed with decimals.The genesis mint of a transaction can set a decimal preference if desired.

How do you get hold of Simple Tokens?

The OST token is currently available for trading on exchanges such as Binance and Huobi.As an ERC-20 token, OST is compatible with nearly all Ethereum wallets.

REST API: Simple token-based authentication – security?

I have a REST API and I’m looking for an easy way to do a secure token-based authentication.Since I’ve read that protocols like OAuth are very complex, I’d like to implement a simpler way.

Does SLP have its own address format?

Yes.“SLP Addr” is a new encoding for addresses, similar to CashAddr.Theoretically, tokens could be sent and received from any address format, but we strongly encourage wallet implementations to use SLP Addr format.This helps prevent user mistakes when transacting in either Bitcoin Cash or tokens.

How can I start using SLP today?

Try the Electron Cash SLP desktop wallet, the Mint web wallet, or the Bitcoin.com wallet.Ask your friends to send you tokens, or mint your own.

Simple Token – ST ICO Business Branded Cryptocurrency Tokens?

Simple Token, found online at SimpleToken.org, is a brandable token you can implement in your business.Find out how it works today in our review.

Aside from adoption, what is the biggest challenge that Simple Token is realistically facing as it grows?

Visibly differentiating ourselves from the slurry of ICO nonsense.There are so many companies that are undergoing token sales for the wrong reasons; either they have a product that does not warrant a token sale, they’re looking to scam investors, or they enter the crowdsale phase much too early.We don’t view a token sale as a fundraising event, although many do.A token sale is a token generation event, and its primary goal should be to create, build out and strengthen an ecosystem, not just make money.

In a nutshell, how does SLP work technically?

You can think of SLP as a ‘transaction within a transaction’.SLP transactions live within a special output known as OP_RETURN, which is a part of a standard Bitcoin Cash transaction.If Alice wants to send Bob some tokens, she sends a minimal (dust) amount of BCH, and the transaction also contains the data to transfer the tokens.You may be interested in reading the protocol specification, which is comprehendable to the average Bitcoin-minded reader.

Is SLP like Ethereum’s ERC-20, but for BCH?

In many ways, yes.Anyone can issue, or “mint” a new token type.Tokens can be traded, spent, or given to someone else.They operate in a distributed manner like most cryptocurrencies.Custom token behavior can be added using bitcoin Script programming language in novel ways.

What makes SLP special among the many emerging token protocols?

We became motivated to create SLP because we believed most previous token proposals were overcomplicated.We wanted something simple and easy to use.

What is the JSON Web Token structure?

In its compact form, JSON Web Tokens consist of three parts separated by dots (.

What are the steps that your team is taking to increase the adoption rate of Simple Token once it launches?

Firstly, we’re committed to seeing our Member Companies succeed.We reserved 27.2% of the total Simple Token supply (roughly $18M) for our Network Accelerator Program.The Accelerator Program provides grants to projects we feel will advance and strengthen the Simple Token ecosystem.

What can you do with Simple Token?

Besides trading, OST tokens are best used on the new Pepo mobile app, which is built by the OST team.Pepo is aimed to be a social networking and video app (similar to TikTok) designed specifically for the crypto community.Like with other branded tokens on the OpenST platform, Pepo takes OST tokens and stakes them to create Pepo Coins.Pepo Coins are ERC-20 tokens used as tokens of appreciation within the Pepo platform.Because Pepo runs on an OST side chain, Pepo coins can be transferred quickly and easily between users.Like with other OST branded tokens, Pepo Coins can be unstaked and converted back to OST tokens.

What Is a Simple Agreement for Future Tokens (SAFT)?

A Simple Agreement for Future Tokens (SAFT) is an investment contract offered by cryptocurrency developers to accredited investors.It is considered a security and, thus, must comply with securities regulations.

How do JSON Web Tokens work?

In authentication, when the user successfully logs in using their credentials, a JSON Web Token will be returned.Since tokens are credentials, great care must be taken to prevent security issues.In general, you should not keep tokens longer than required.

What’s so special about it?

The OST platform allows users to create or mint their own “branded tokens”.These tokens are beneficial because they can be transferred extremely quickly and cheaply compared to normal ERC-20 tokens—making them ideal for micro transactions.Micro transactions are tiny transfers of value normally too expensive to be processed by credit card companies, but perfect for a scalable crypto token.

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What is Simple Token?

Simple Token wants to help businesses create their own branded token ecosystem.The project was launched with the goal of helping businesses benefit from deploying their own branded crypto-backed token economies.Businesses get a real token under their own brand without the legal, regulatory, and technology headaches involved with it.

What are the issuance options for token creators?

Token creators can generate a token with a 1-time issuance, thus guaranteeing a fixed supply, or alternatively, a token that has multiple issuance rounds.These rounds can continue indefinitely until the issuer decides to switch it off permanently, marking the end-of-minting capabilities for that token.

Simple Token right now seems to aim to become the Stripe of the blockchain industry, are there any plans to expand the usage of the platform to non-developers? Are there any other plans in the pipeline to make Simple Token a “currency”?

Simple Token enables any company to create and manage their own digital branded crypto-currency powered by Simple Token without their internal team needing to know any blockchain technology.Simple Token combines the “ST” ERC-20 token, an immediately usable protocol for consumer app tokenization, and a SaaS software solution for managing your token economy.

Let’s start writing some code, shall we?

Well, not yet actually.We need to set up the environment first.The code will have to wait at least a couple more minutes.This part is boring so to get up and running quick we’ll clone the repository from the tutorial above.

Why should we use JSON Web Tokens?

Let’s talk about the benefits of JSON Web Tokens (JWT) when compared to Simple Web Tokens (SWT) and Security Assertion Markup Language Tokens (SAML).

What Is Token Authentication?

Token authentication is a way to authenticate users into an application using a temporary token (typically a JSON Web Token) instead of actual credentials.

Is SLP robust and well-tested?

The SLP protocol is simple, which makes it robust.The protocol simplicity makes it easy for new wallet software builders to pass the protocol unit tests and achieve perfect SLP compliance.

What is Simple Token (OST)?

Open Simple Token or OST a protocol designed to support mainstream applications being built on Ethereum.The team is building basic infrastructure and tools allowing companies the benefit of having their own crypto assets without having to build and deploy it themselves.At the core of the protocol is Simple Token (OST), an ERC-20 token that can be staked to create or mint custom tokens on an OST side chain.The value of the new token is directly linked to the value of the staked token.

Who Invented Simple Token?

The co-founders of Open Simple Token (OST) are current CEO Jason Goldberg, CTO Sunil Khedar, and Chief Strategist Benjamin Bollen.

What else is different?

The simplicity of launching branded tokens is made possible by the OST platform, the first “no-code” blockchain platform allowing nearly anyone to launch their own token and token economies.OST developer kits allow businesses to easily integrate tokens into any app and then use the OST platform tools to easily deploy, manage, and analyze the new tokens.

What are the risks of using SLP?

SLP is a simple platform to keep track of anything quantifiable, sort of like a public and immutable spreadsheet on a blockchain.What could possibly be the risk of that?  Using the SLP wallet software recommended on this site will prevent any accidental loss of your tokens.

What’s The Point of The Refresh Token?

At first glance the refresh token may look pointless, but in fact it is necessary to make sure the user still have
the correct permissions.If your access token have a long expire time, it may take longer to update the information
associated with the token.That’s because the authentication check is done by cryptographic means, instead of querying
the database and verifying the data.So some information is sort of cached.

What about "non fungible tokens" like Cryptokitties?

SLP also offers good support for non fungible tokens (NFT).Like Ethereum’s ERC-721 standard, meta data for each token can be stored off-chain.Each non fungible token in SLP can have a unique, static token identifier which is also the genesis transaction id.All NFT tokens for a project can be issued from the same address for easy classification.

What is your outlook on Simple Token 5-10 years down the road?

We envision Simple Token as the standard for app tokenization.Not only because we offer a palatable onramp for embracing blockchain technology, but because our ecosystem finds strength in numbers.

Who’s Behind Simple Token?

Simple Token is led by Jason Goldberg (CEO), an internet entrepreneur with 18+ years of experience scaling products to millions of users.

Why create Tokens with SLP?

Storing and managing tokens on a blockchain provides greater transparency and integrity than traditional forms of asset accounting and trading.Virtual gaming assets, licenses, digital media rights, gift cards, and company stock shares can all be tokenized.Tokens can also be sent peer-to-peer without any middleman, allowing for a new kind of decentralized digital marketplace.

Why Use Tokens?

The use of tokens has many benefits compared to traditional methods such as cookies.

History of Simple Token