The IOS Token (IOST) is an ultra-fast, fully-fledged, decentralized blockchain network and ecosystem with its nodes and wallets. It is also based on the next-generation consensus protocol dubbed ‘proof of believability.’
Before even trying to understand the meaning of IOS Token (IOST), it becomes essential to understand the platform of IOST. According to the IOST website, ‘IOS’ in IOST stands for the ‘Internet of Services.’ This IOST platform has been designed to provide a solid foundation for a service-oriented blockchain ecosystem. The IOS Token (IOST) claims to offer the ability to handle the high traffic volume needed for blockchain’s mass adoption. This company also claims that it can do this with the help of a particular type of sharding (efficient distributed sharding, or EDS) and a new consensus algorithm (Proof of Believability); IOST charges zero transaction fee and up to 8,000 transactions every second without sacrificing the security.
The IOS Token (IOST) network is decentralized, which means the users of the IOS Token (IOST) network with their individual computers, rather than a single server that powers the whole system. The main advantage of this IOS Token (IOST) is that even if some computers hosting the nodes or network, as they are called, run into problems, it will not affect the whole IOST network. According to the website, the main goal of the IOS Token (IOST) platform is to support the decentralized alternatives to the widespread applications we use and love today, like Amazon, Facebook, and digital asset exchanges.
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Who are the founders of IOS Token?
This project was launched in January 2018 by Terrence Wang, Jimmy Zhong, Justin Li Ray Xiao, Kevin Tan, and Sa Wang. Zhong has founded other tech startups in China and U.S. During his university days; he sold the first company for $40 million; it was a marketplace where students could easily exchange their class notes. Wang then returned to Beijing and cofounded the IOS Token (IOST), among other projects. His previous experience includes serving as an Uber software engineer. He also holds a degree in Computer Science from the University of Minnesota and a master’s in Computer Sciences from Princeton University.
Furthermore, Justin Li Ray Xiao previously worked as an investment banking associate at Goldman Sachs and a Data Scientist at Mobike. He graduated with a degree in Computer Science and Applied Mathematics. Meanwhile, Kevin Tan was a co-founder at Ethercap and received a degree in Computer Science from Tsinghua University. Xiao cofounded Dora along with Jimmy and Sa- an Artificial Intelligence company that is focused on intelligent kiosks. He studies computer science along with quantitative economics at the university.
What makes IOS Token Unique?
The blockchain infrastructure of IOS TOKEN (IOST) is open source and is designed to be secure and scalable, hoping that it will serve as the backbone for online services in the future. This team has also developed a ‘proof of believability’ consensus algorithm to ensure transactions on the network are efficient and secure. One of the biggest challenges that the IOS TOKEN (IOST) aims is to resolve the centers on how these big companies may not be able to embrace the blockchains in a customer-facing environment unless they are scalable. Furthermore, the Internet of Services Token (IOST) is tackling the problem.
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To understand the IOS TOKEN (IOST), the best way to do it is by comparing it to the nearest competitor: ethereum, the most popular innovative contract platform for developers. It can also be compared to TRON and EOS, which are scalable and highly smart contract platforms with high usage.
IOS Token (IOST) Price Prediction
The IOS TOKEN (IOST) is a cryptocurrency native to the IOST platform and is also used as a ‘fuel’ such as Ethereum to carry out the transactions to pay fees. In addition, the IOS TOKEN (IOST) helps establish the POB (Proof of Believability) consensus by varying through blockchain. The price of IOS TOKEN (IOST) stands at 0.06$ or Rs. 4.5. With this bullish state of the market and the attention IOSToken is getting, it is safe to say that the coin can be expected to rise from 10-15% in the coming days.
Image reference: themarketperiodical.com
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