IOS token

IOSToken (IOST) was founded in January 2018 by Terrence Wang, Justin Li, Ray Xiao, Sa Wang, Jimmy Zhong, and Kevin Tan. The project gained significant support from prominent investors, including Node Capital, Zen Fund, Nirvana Capital, Alpha Coin Fund, Huobi, Sequoia, LinkVC, Matrix Partners, INBlockchain, Metropolis VC, and SEQUOIA.

IOST raised 35,000 ETH through a private token sale in December 2017. The mainnet was launched in February 2019. Since then, the platform has developed multiple decentralized applications built on the IOST network.

The Internet of Services Token (IOST) is the native cryptocurrency of the Internet of Services (IOS) blockchain platform. It serves as the medium of exchange on the network and plays a crucial role in the platform’s consensus mechanism and node believability scores.

IOST utilizes a unique consensus algorithm called Proof of Believability (PoB). This mechanism validates nodes based on their past contributions and behavioral patterns. Nodes are assigned a believability score, which determines their likelihood of being selected to validate new blocks. The believability score is influenced by factors such as the amount of IOST tokens held, the node’s performance, and community feedback.

Nodes with higher believability scores are more likely to be chosen to validate new blocks. When a node is selected, it receives a reward in the form of IOST tokens. This incentivizes nodes to maintain a high level of performance and contribute positively to the network. The PoB mechanism ensures that the network remains decentralized and secure by randomly distributing data to various nodes, preventing any single node from dominating the validation process.

IOST also employs Efficient Distributed Sharding (EDS), a technology that dynamically partitions the network into subspaces. This allows the platform to handle a high volume of transactions efficiently, with the ability to process up to 100,000 transactions per second. EDS ensures that the network can scale to meet the demands of large-scale applications without compromising security or performance.

IOST tokens are used for various purposes, including:

• Payments and Commissions: IOST tokens are used to pay for transactions and commission fees on the network.
• Credibility: The amount of IOST tokens held by a node influences its believability score, which affects its chances of being selected to validate new blocks.
• Node Incentives: Nodes are rewarded with IOST tokens for validating blocks and contributing to the network.

The total supply of IOST tokens is capped at 21 billion, and they cannot be mined. The tokens were distributed during a private ICO event, with allocations to the IOS Foundation, community building, the team, and investors.

IOST tokens can be stored in any wallet with ERC20 support, such as MyEtherWallet or Ledger Nano S. They can be traded on various exchanges, including Huobi, Binance, and OKEx, with the largest trading volume being with Bitcoin.

In summary, the IOS token (IOST) is a critical component of the Internet of Services blockchain platform, facilitating transactions, node validation, and the overall security and scalability of the network.

IOST (IOStoken) has several strengths that contribute to its potential as a scalable blockchain platform:

1. Proof of Believability (PoB) Consensus Algorithm: IOST utilizes the PoB algorithm, which is designed to improve scalability and security by considering factors such as the share of contributions, the number of IOS tokens, the activity of participants, and their visibility. This consensus mechanism allows for high transaction speeds while maintaining network security.

2. Efficient Distributed Sharding (EDS): IOST employs EDS technology, which dynamically splits the network into subspaces, significantly reducing the workload and improving system performance. This innovation enhances network scalability.

3. Multi-Stage Data Updates: The platform uses multi-stage data updates, ensuring stable and error-free transactions. The Atomic Commit algorithm maintains the system in a consistent state, preventing system failures.

4. Micro State Blocks: IOST organizes distributed computing systems using Micro State Blocks, which enable parallel processing of data on multiple computing nodes. This approach enhances the efficiency of the network.

5. Accessibility and Transparency: IOST is built on open-source principles, providing a transparent and permissionless system for all users. Users can participate in node running, transaction validation, and access services without hidden requirements, and their behavior is tracked and rewarded with tokens.

6. Scalability and Speed: IOST aims to achieve high transaction speeds, with a block time of 0.5 seconds and a capacity of 8,000 transactions per second (TPS). This makes it suitable for large-scale applications.

These strengths position IOST as a promising platform for decentralized applications and services, offering a scalable and secure infrastructure for the Internet of Services.

The risks associated with the IOST token (IOST) include:

• Market Volatility: Cryptocurrencies, including IOST, are highly volatile, and their prices can fluctuate rapidly. This volatility can result in significant losses if not managed properly.
• Risk of Loss: Trading in IOST involves the risk of losing capital due to market fluctuations.
• Manipulation Risk: IOST's price can be manipulated by large investors or market participants, which can impact its value.
• Regulatory Risks: Changes in regulatory environments can negatively impact the value of IOST.
• Security Risks: IOST, like other blockchain platforms, is vulnerable to security breaches and hacks, which can compromise user data and the integrity of the network.

It is essential for investors to conduct thorough research, set realistic expectations, and manage risks effectively to minimize potential losses when investing in IOST or any other cryptocurrency.

• Terence Wang: Co-founder of IOSToken, with experience in enterprise management and blockchain projects.
• Jimmy Zhong: Co-founder of IOSToken, with a strong background in blockchain development and business management.
• Kelvin Tan: Co-founder of IOSToken, contributing to the project's technical and strategic direction.
• Ray Xiao: Co-founder of IOSToken, bringing expertise in blockchain technology and project management.
• Eugene Kem: Author at Coin Bureau, providing insights and reviews on IOSToken and other blockchain projects.
• IOST Team Members: Over 50 members spread across Asia and North America, with diverse professional backgrounds from top-tier companies such as Google, Microsoft, Uber, Oracle, Kraken, and BCG.