What is IOST?

IOST is a blockchain platform designed specifically for services traded or purchased over the internet (Internet of Services – IOS), such as online services or digital products. IOST coin will provide a new generation decentralized ecosystem exclusively for online service providers and for users who can transact quickly with high security based on blockchain technology.

Using Efficient Distributed Sharding (EDS) and Proof-of-Believability (PoB), IOST can process millions of product and service transactions quickly. Not only that, this mechanism also optimizes the speed of creating blocks as well as the process of transaction confirmation.

Features of IOST

Using HUDS data storage system: Data storage is the backbone of any ecosystem. With HUDS data storage system (Hyper Universe Distributed System) – This system uses blockchains to store data, thus creating a secure, searchable, and economical way to store data.

Using self-designed distributed system is EDS: The EDS distributed system in IOST is designed to reduce the workload during transaction processing for each confirmation, thus increasing the total processed capacity faster.

Fair and transparent feedback system: Users will have the opportunity to provide feedback after completing the service. Use the FTFS application designed specifically to ensure all feedback is reliable.

Benefits of IOST coin

Efficiency: When using the IOS Blockchain, always accurate and transactions are processed continuously.

Security: The transactions are completely secure, ensuring safety for users.

Scalable: As the number of users in the IOST ecosystem increases, the bandwidth of the IOS Blockchain automatically increases.

Reduce storage: The IOS Blockchain can reduce transaction history for validators periodically.

Team

IOStoken’s development team owns more than 50 blockchain experts from Harvard, Princeton, Brown, Berkeley, Cornell, Tsinghua University, Uber, Google, KAYAK, Morgan Stanley, Linux, LinkedIn and Deloitte, and received many awards from Computer Olympiad, ACM / ICPC, Forbes 30 Under 30 and 500-startup … Here are typical names in the IOStoken development community:

Terrence Wang: He is a person with five years of research experience in the cryptocurrency market and distributed algorithms. At the same time, he was on the CoinLang development team at Princeton, a programming language that helped upgrade Bitcoin.

Jimmy Zhong: Founder of many successful companies in the cryptocurrency market. In addition, he was one of the first to mine BTC and ETH.

Ray Xiao: He is an investor of Zhenfund, and an advisor to many startups in New York and Beijing.

Conclusion

IOST is a Blockchain platform with great ambitions. This project aims to provide a scalable Blockchain platform, ensuring transparency and safety. With the combination of many technologies, IOST is aiming to make 100,000 transactions per second.

The PoB mechanism is what makes a difference and increases IOST’s competitiveness. With this consensus mechanism, IOST allows unlimited nodes to join the network and still ensures the decentralization of the network. IOST’s staking index is quite good and is considered one of the best staking projects.

You can check IOST price here.

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