IOST

• IOST token is the native cryptocurrency of the IOST blockchain.

• IOST stands for Internet of Services Token.

• The blockchain focuses on high transaction throughput, scalability, and security.

• IOST uses Proof of Believability (PoB) consensus mechanism.

• Total supply: 90 billion IOST tokens.

• Distribution includes token treasury, community, business development, marketing, team, and investors.

• Inflationary emission rate; supply fully vested at mainnet launch in February 2019.

As of today 22 November 2024, the price of IOST is ₹0.58 INR, with a 24-hour trading volume of 64719454.25 USD. The market capitalization for IOST is 141313832.52USD. The circulating supply is 21315000000 IOST, with the total supply also being 21315000000 IOST.

Pros:

• Scalability

• : IOST’s blockchain is designed to support high transaction throughput, which is crucial for large-scale applications.

• Innovative Consensus Mechanism

• : The Proof of Believability consensus mechanism aims to improve scalability and security.

• Developer-Friendly

• : Supports popular programming languages like JavaScript, making it accessible to a wide range of developers.

• Strong Team and Backing

• : IOST’s team has a diverse and rich professional background, and the project is backed by world-class investors.

• Recent Positive Price Trends

• : IOST has shown strong potential and an upward price trend in recent times.

• Partnerships and Ecosystem Growth

• : IOST is actively seeking partnerships and expanding its ecosystem, which could lead to increased adoption and demand for the token.

• Staking Rewards

• : Users can earn rewards for staking IOST, which can be an incentive for long-term holding.

Cons:

• Market Volatility

• : Like all cryptocurrencies, IOST is subject to market volatility and price fluctuations.

• Competition

• : IOST faces stiff competition from other blockchain platforms that offer similar features and capabilities.

• Regulatory Uncertainty

• : The regulatory environment for cryptocurrencies is still evolving, which could impact IOST’s adoption and price.

• Complex Technology

• : The advanced technology behind IOST, while a strength, can also be a barrier to understanding and adoption for some users.

• Dependence on Ecosystem Development

• : The success of IOST is closely tied to the development and adoption of its ecosystem, which is not guaranteed.

• Token Dilution

• : The total supply of IOST tokens is significant, and as more tokens enter circulation, there could be a dilutive effect on the value of each token.

• Limited Historical Performance Data

• : As a relatively new project, IOST needs more historical data to assess its long-term performance and risk.

• High transaction throughput, strong team, and notable partnerships.

• Focus on scalability and enterprise-level services could drive future growth.

• The proof of Believability consensus mechanism balances decentralization with scalability and security.

• Addresses scalability and throughput issues for enterprise-level online services.

• Co-founders: Terrence Wang, Justin Li, Ray Xiao, Sa Wang, Jimmy Zhong, Kevin Tan.

• Team experience from Uber, Oracle, Kraken, and BCG.

• ICO price: $0.004167 per token during the private sale on December 1, 2017.

• Market volatility, regulatory changes, competition, and need for adoption.

The IOST whitepaper introduces the Internet of Services (IOS) as a scalable and secure blockchain platform designed to provide high-quality online services. The IOS platform aims to address the scalability issues that plague current blockchain technology, offering a high transaction throughput while maintaining security and decentralization.

At the core of the IOS platform is the Proof of Believability (PoB) consensus mechanism, which allows for the efficient and secure validation of transactions. PoB is a novel approach that takes into account the participants’ past contributions and behaviours to ensure a fair and balanced distribution of rewards without the energy costs associated with Proof of Work (PoW) systems.

The IOST token serves as the medium of exchange within the IOS ecosystem, facilitating transactions, service fees, and the distribution of rewards. The platform employs a fair and transparent feedback system, where users’ behaviours are tracked and rewarded, incentivizing positive contributions to the network.

To prevent double-spending and ensure the integrity of transactions, IOST uses the Byzantine Shard Atomic Commit (Atomix) protocol. This protocol is designed to work in tandem with the PoB consensus to provide a secure transaction environment.

The IOS platform is not only a transactional network but also a full-fledged environment for developers to build and deploy decentralized applications (dApps). The IOST blockchain supports smart contracts and offers a range of tools and languages for developers, making it an accessible and versatile platform for a wide array of online services.

The whitepaper outlines the technical architecture of the IOS platform, including the Efficient Distributed Sharding (EDS) technology, which allows for the horizontal scaling of the network. EDS ensures that the IOS blockchain can handle a large number of nodes while maintaining high transaction throughput.

The IOS platform also introduces the Micro State Block (MSB) technology, which reduces the storage and computational requirements for participating nodes. This innovation is crucial for maintaining the performance of the network as it scales.