This encouraged many third-party companies to develop their own VST-compatible audio plug-ins. A big reason for this success is that, through licensing agreements, Steinberg allowed other companies to build their own applications on top of their technology. The VST format created a revolution in the digital audio world and quickly became the de facto standard in the music industry.
This technology was released in 1996 by the German company Steinberg Media Technologies. VST simulates traditional audio recording hardware in software by using digital signal processing (DSP). It’s an audio plug-in software interface that has the power to integrate things like virtual instruments and effect modules into your DAW. VST stands for Virtual Studio Technology.