IOST (IOST) can be defined as an extremely fast and decentralized blockchain platform. Leveraging a next-generation algorithm, IOST aims to unleash the power of blockchain technology. The name of the algorithm used by the platform is Proof of Believability (PoB).
IOST is expressed as a decentralized blockchain network utilizing the PoB consensus algorithm. In order to better answer the question of what is IOST, let’s talk about the main goal that the project team focuses on. According to this goal, online services will be provided in a more secure and scalable way. In this way, it is aimed to make a large-scale contribution to the field of decentralized finance (DeFi).
IOST can be described as a full-fledged blockchain platform and ecosystem. This innovative ecosystem has unique nodes, wallet services to users and a consensus protocol called PoB. The primary focus of the IOST team to improve blockchain technology is the speed factor. According to the information on the website of the IOST platform, the team describes its service as “ultra-fast”. In addition, innovations such as PoB and Effective Distributed Sharding (EDS) that it has brought to the blockchain ecosystem will attract the attention of crypto lovers. In addition, we need to mention that the IOST platform is compared to Ethereum, which has the highest value of altcoins in the market. As it is known, the Ethereum blockchain network hosts many crypto money projects. However, some of the problems inherent in blockchain technology are also seen in the ETH network. Here, the IOST network overcomes these and manages to compete with the ETH network.
IOST (IOST) History
The first steps towards the development of the IOST platform date back to the beginning of 2017. As it is known, the crypto money ecosystem experienced a boom in those years. A large number of innovative and promising projects, each more assertive than the other, were presented to the users. In these years, when Initial Coin Offering (ICO) activities are frequently seen, IOST platform is also there, he said. The IOST team managed to obtain a total of 31 million dollars worth of funds from its investors with an ICO held in January 2018. After this fundraising event, some of the IOST coins to be offered to the market were delivered to their investors. The team, which continues its work at full speed through the funds obtained, launched the main network of the platform in February 2019. Continuing its work in accordance with the project’s roadmap, the IOST team launched OnBlock, known as a web-based platform, in May 2019. Thanks to this platform, it has been made possible for every user to access the decentralized applications on IOST and to easily benefit from all the opportunities and opportunities offered. Moreover, users only need to log in to the platform using an e-mail address to do this.
Jimmy Zhong, Terrence Wang, Justin Li, Ray Xiao, Su Wang and Kevin Tan can be expressed as the architects of the IOST platform. It goes without saying that each of these names graduated from well-known universities in the world and took part in many well-known projects. It is known that Zhong is a prominent name in the industry by leading various technology initiatives in the United States. Having contributed significantly to the design of the Uber platform, which is a kind of transportation application, Zhong now continues his career with the IOST platform.
What is the IOST (IOST) Price?
According to the data received at the time the content was prepared, the price of IOST coin was around $ 0.053. According to the details of the project, it was stated that a total of 90 billion IOST coins will be released. We see that 18.1 billion IOST coins have been included in the market so far, which corresponds to about 20% of this amount. The IOST project has its own network, and IOST coin stands out as the crypto currency of the network. It would not be wrong to consider it as a promising and sustainable project, and it looks like it will be able to find a place in the market in the future when it continues its work in this way.
How Does IOST (IOST) Work?
In order to give a clearer answer to the question of what is IOST, let’s take a look at how the platform works. The main goal of the platform can be summarized as providing scalable, effective and secure transactions to its users. Accordingly, it has been made possible for users to take part in a decentralized and well-functioning platform. Among the services offered to users by the platform is wallet support. By making use of this service, users can securely store their cryptocurrency funds. Users transacting on public blockchains would have a hard time executing their transactions without a wallet service. Moreover, the wallet service provided by IOST allows users to use their funds in other decentralized applications on the network. All users have to do is choose an IOST wallet and enjoy the benefits offered.
The IOST network includes nodes run by its own community. Thanks to these nodes, it is ensured that the network has a secure, decentralized and self-managed structure. The IOST platform implements various incentive programs for almost everyone to join the node network. This creates a low-cost, barrier-free and highly rewarded IOST network.
How to Buy IOST (IOST)?
It is possible to purchase IOST coin, the cryptocurrency of the IOST platform, on many exchanges. These exchange platforms include names such as Binance, Huobi Global, Bithumb, KuCoin or Gate.io. Binance, one of the crypto currency trading platforms with the largest number of users in the world, has created various trading pairs for the IOST coin. These pairs are listed as IOST/USDT, IOST/BUSD, IOST/BTC and IOST/ETH. Accordingly, you can own IOST through these cryptos on the Binance exchange.
