IOST (IOST)

 What Exactly is IOST (IOST)?

IOST presents itself as an "ultra-fast," fully decentralized blockchain network and ecosystem boasting its own nodes, wallets, and built upon the "next-generation" consensus protocol termed "proof-of-believability."

Who Are the Minds Behind IOST?

Launched in January 2018, the project saw its inception through the efforts of Jimmy Zhong, Terrence Wang, Justin Li, Ray Xiao, Sa Wang, and Kevin Tan.

Zhong, a seasoned entrepreneur, has spearheaded various tech startups both in the United States and China. Following his collegiate years, he ventured back to Beijing and co-established IOST alongside other ventures.

Wang's background encompasses his role as a software engineer at Uber. He holds degrees in computer science from the University of Minnesota and Princeton University.

Li's professional journey includes stints as an investment banking associate at Goldman Sachs and a data scientist at Mobike. He holds degrees in applied mathematics and computer science.

Tan co-founded Ethercap and holds a degree in computer science from Tsinghua University.

Xiao, along with Jimmy and Sa, co-founded Dora, an AI company focusing on intelligent kiosks. His educational background lies in computer science and quantitative economics.

What Sets IOST Apart?

IOST's blockchain infrastructure is open-source and engineered to prioritize security and scalability, aiming to become the backbone of future online services.

The team has devised a "proof-of-believability" consensus algorithm to ensure the security and efficiency of transactions on the network.

A primary challenge IOST addresses revolves around the scalability hurdle that impedes large corporations from embracing blockchain technology in customer-centric environments. The Internet of Services Token serves as a proposed solution to this challenge.

To comprehend IOST, a comparative analysis against its closest competitors is imperative. While Ethereum reigns as the most popular smart contract platform, IOST distinguishes itself with its capability to process up to 100,000 transactions per second, a stark contrast to Ethereum's 20, Tron's 2,000, and EOS's 4,000.

To achieve these remarkable transaction speeds, the IOST team has introduced a novel blockchain architecture, amalgamating several innovations such as Distributed Randomness Protocol, Efficient Distributed Sharding, TransEpoch, Atomix, Proof-of-Believability, and Micro State Blocks.

How Many IOST (IOST) Coins Are in Circulation?

IOST boasts a total token supply of 21 billion. An initial coin offering (ICO) held in January 2018 saw 40% of the tokens sold, raising approximately $31.3 million worth of ETH at the time.

The remaining tokens are distributed as follows: 35% retained by the IOST Foundation, 12.5% allocated to community building, 10% to the IOST team, and 2.5% dedicated to investors and advisors.

How Is the IOST Network Secured?

In the fiercely competitive landscape of niche blockchains, IOST relies on its proof-of-believability protocol (PoB) and efficient distributed sharding (EDS) to bolster the scalability and security of its blockchain.

Tailored for enterprise adoption, IOST prides itself on its ability to accommodate heavy workloads generated by major tech giants such as Amazon, Google, and Facebook. Strategic partnerships play a pivotal role in the project's trajectory.

Where Can You Purchase IOST (IOST)?

IOST is available for purchase on various exchanges including Bittrex, CoinEx, Livecoin, Binance, and Bitrue.

For further information on purchasing Bitcoin, click here.

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