IOST Token
Name
IOST Token
Summary
The IOST is a next-generation blockchain technology that provides the network infrastructure to support a service-oriented ecosystem.
The team have developed a “proof-of-believability” consensus algorithm to ensure transactions on the network are secure and efficient.
IOST is built for enterprise use, so it claims to be able to handle heavy loads produced by big tech companies such as Amazon, Google and Facebook. Partnerships appear to be key for the project’s success.
Rating
Symbol
IOST
Overview
The project has an open-source infrastructure, and it was designed to be scalable and secure, with the idea of serving as a backbone for online services in the future. As for its PoB algorithm, it was created to ensure that transactions on the IOST network will be efficient and secure.
IOST is targeting major companies that have a need for a competent blockchain partner that would help manage transactions for them, and right now, as crypto adoption is exploding among retail and institutional investors alike, it is very likely that demand for such projects will start to surge.
Historical Price Movement (in INR)
Technology
Proof of Believability (PoB) is the consensus algorithm used by the IOST blockchain. Proof of Believability enables high transaction speed without compromising network security. In order to achieve this, it uses several factors including how many IOST tokens the node holds, its reputation, its contribution, and its behaviour.
The largest difference between IOST and its competitors is how it claims it can process up to 100,000 transactions per second compared with Ethereum’s 20, Tron’s 2,000 and EOS’s 4,000.
In order to reach these transaction speeds, the IOST team has created a novel blockchain architecture, which introduces and combines several innovations including a Distributed Randomness Protocol, Efficient Distributed Sharding, TransEpoch, Atomix, Proof-of-Believability and Micro State Blocks.
Use of Native tokens in the ecosystem:
IOST tokens serve as the medium of exchange for all transactions and commission fees.
Token sale
45%
Token treasury
35%
Team and advisors
12.5%
BD & marketing
7.5%
Volume ( as of 17th april 2022)
$105,613,953
Total Supply
90,000,000,000 IOST
Circulating Supply
18,588,745,668 IOST
Crowd Sales
15/01/2018- ICO- $40M
Funding
NA
Country
Singapore
Name of Organisation
INTERNET OF SERVICES FOUNDATION LTD.
Year Incorporated
2018
Registered Address
9 RAFFLES PLACE 04 A02 REPUBLIC PLAZA 048619
Dispute Resolution and Governing Law
Singapore
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Jimmy Zhong | Co-Founder | Emory University:Bachelor of Science (BS), Mathematics and Computer Science | 13 yrs |
| Yannan (Terrence) Wang | Co-Founder | Princeton University: Master's , Computer Science University of Chicago: Computer Science | 9 yrs |
| Sa Wang | Co-Founder | The University of Texas at Austin: Bachelor's degree, Radio-TV-Film & Theatre-Dance | 11 yrs |
