IOST (IOST)

Introduction IOST, or Internet of Services Token, is a blockchain platform designed to enable businesses to create and utilize dApps on a scalable and secure network. It was founded in 2017 by a group of blockchain enthusiasts, led byTerrence Wang who acts as the company’s chief technical engineer and chief architect. IOST utilizes a unique consensus system called ‘Proof of Believability’ and focuses on providing an efficient platform for the deployment of decentralized applications. What is IOST Crypto Currency? IOST is an open-source token based on the Ethereum blockchain technology. It allows developers, businesses and users to transact and interact with each other without relying on third-party intermediaries, meaning that transactions take place directly between two people. This eliminates the need for a middleman, resulting in lower transaction costs and faster transactions. Who founded IOST? IOST was founded in 2017 by a group of blockchain enthusiasts, led by Terrence Wang (CTO/COO) and Ray Xiao (CEO). Wang has a long track record in the blockchain industry, having previously worked for IBM and VISA, whereas Xiao was formerly CTO of FORBES, Yale’s CFO and former managing director of Ripple. IOST is a Singapore-based company with a mission to build the most powerful blockchain infrastructure for businesses. What makes IOST Unique? What makes IOST unique from other blockchain projects is its innovative consensus mechanism ‘Proof of Believability’ (PoB). This consensus algorithm is designed to ensure that all nodes on the network are secure and reliable. It ensures that nodes cannot collude with each other or engage in malicious activities to gain a competitive advantage. Another unique feature of IOST is its scalability. The platform has a supposed 10,000 transactions per second, compared to the Ethereum’s 15 transactions per second. The increased scalability allows users to process more transactions at a faster rate. Where is IOST Used? IOST can be used to facilitate transactions on a variety of applications. It is an excellent platform for the development of decentralized applications, such as Distributed Ledger Technology (DLT) integrations, data processing and contract execution. Moreover, the platform is used by businesses that want to tokenize their products, services or assets. Where to Buy/Sell IOST? There are numerous exchanges that currently accept deposits and withdrawals. Investors can purchase IOST on exchanges such as Binance, Bitfinex, Huobi and OKEx. These exchanges charge a fee for using their services, so it is important to do research beforehand. Additionally, IOST is also listed on many decentralized exchange networks, such as Radar Relay, IDEX and Switcheo. Conclusion IOST is a revolutionary blockchain platform that utilizes the innovative consensus mechanism ‘Proof of Believability’. This provides a secure and reliable network for businesses to deploy decentralized applications. Furthermore, the token can be used for a variety of applications and it is listed on many exchanges. Investors interested in purchasing IOST should do research beforehand to make sure they select the best exchange for their needs.