What is IOSToken (IOST)?

Aug 06, 2018 at 19:03

Coin overview

IOST is a blockchain-based platform designed for decentralized apps (dApps) development and the development of online services involving the Internet of Things (IoT).

The IOSToken (ticker symbol: IOST) is the official token of the IOST platform. First launched on January 16 at an initial price of approximately $0.02, the token quickly gained momentum as its value increased to an all-time high of $0.12 on January 25, just nine days after the token release. At the time of writing its value is back to the original $0.0203, not far from its original trading price.

Several factors set IOST apart from other decentralized IoT and dApp development platforms. First is its use of Efficient Distributed Sharding (EDS), a dynamic sharing protocol designed to reduce transaction processing workload. This increases total processing capacity with the increase of new participants, making IOST scalable.

IOST also boasts an intelligent reputation system that uses Servi, a non-tradable token, to mitigate the tendency towards centralization. Its main purposes are to measure an individual’s reputation and contributions to the community and to encourage individuals to contribute to the development of IOST. Servi is automatically deposited to each user after making a contribution. The block validating process is self-terminating, automatically clearing Servi balance owned by the validator.

IOST also uses its own consensus system, an engine called Proof-of-Believability (PoB). PoB uses believability factors to select validators of newly created blocks, selecting nodes fairly using algorithmic randomness based on previously generated blocks. These believability factors include IOSToken balance, Servi balance, previous contributions to the system and behavioral patterns.

IOST is developed by an impressive team of mostly Ivy League school-educated professionals led by Terence Wang, Jimmy Zhong, Kelvin Tan and Ray Xiao. They have a team of over 50 people in North America, Asia, and Europe.

The official release of the IOS network is slated for the third quarter of 2019, with the testing period scheduled on Q2 2019.

 

Where to buy?

The largest volume of IOST can be bought on Huobi, Upbit, and Binance.

Is it mineable?

IOST has a total token supply of 21,000,000,000 with a current circulating supply of 8,400,000,000 tokens.