Trade IOST - IOST Markets, Exchanges, Broker
IOStoken has taken the market by storm, and until recently, few in the community had heard of the project.
However, IOST is currently just outside the top 50 currencies based on market capitalization. IOStoken is a blockchain platform from Singapore that aims to achieve real use and solve the existing scalability, transaction throughput and security issues that are currently hampering widespread integration and mass adoption.
In this IOStoken review we take a look at the project, team, technology and token.
What is IOStoken (IOST)?
IOStoken revolves around the Internet of Services and aims to provide a solid infrastructure for new online service providers. The team behind the project has focused on delivering a high TPS rate and creating a highly scalable, private and secure blockchain. They also like to claim that the IOS blockchain (Internet of Service) is a secure, scalable blockchain that actually works.
The team also promises that the IOS platform can handle up to 100,000 transactions per second. This puts IOS far ahead of many of the established blockchains such as Bitcoin and Ethereum.
Interestingly, IOStoken is built on the Ethereum network, but unlike many other platforms that operate on Ethereum, IOStoken has not conducted an Initial Coin Offering (ICO).
What is special about IOStoken?
IOStoken uses an innovative Efficient Distributed Sharding Technology that dynamically divides the network into subspaces by randomly assigning different nodes. The result is a system that works faster and more efficiently than many competitors.
The project also uses a brand-new consensus mechanism known as Proof of Believability (PoB), where nodes are validated based on past contributions and behavior patterns. This system also includes a "fairness" algorithm that randomly distributes the data across different nodes to ensure a decentralized blockchain protocol.
The IOSToken Team
The team behind this project is also very impressive and consists of high-calibre personalities with first-class qualifications and a lot of industry-specific experience. IOStoken was founded by the quartet of Terence Wang, Jimmy Zhong, Kelvin Tan and Ray Xiao.
They lead a team of PhD students and graduates from institutions such as Harvard, Princeton and the University of California, while a number of team members have worked for companies such as Google, Deloitte and Morgan Stanley.
The project's viability?
IOS includes a number of features that make it a viable option as an enterprise blockchain; the protocol is designed to support service-oriented products and services.
In addition to their sharing technology and consensus mechanism, the IOS team has also used a Hyper Universe Distributed System (HUDS) as a decentralized, secure way to store information. HUDS also enables the use of the IOS platform through a variety of different services, ranging from a small business to a huge organization such as Amazon.
IOStoken also uses a number of methods that help achieve scalability, including Atomix, a fast commit protocol to ensure consistency between Cross-Shard transactions, and Scaleout, a perfect partitioning state for multiple groups handled in parallel. The Bias Resistant Distributed Randomness (BDR) mechanism helps effectively and securely introduce unbiased randomness into the network.
The IOS team has set itself the goal of scalability and high transaction throughput to improve the blockchain and present this in its white paper:
The IOS is a next-generation blockchain technology that provides the network infrastructure to support a service-oriented ecosystem.
IOS also has room for the implementation of distributed applications (dApps) and intelligent contracts that will prove critical once the platform is adopted by existing organizations.
In addition, IOS was supported by institutional investors and conducted a private token sale in January in which 16 companies publicly announced that they were investing in the IOStoken project. These investors are mostly blockchain-based companies and VC fund groups such as Matrix and Sequoia.