What is IOST? IOST Coin is the cryptocurrency that powers the IOST blockchain. The blockchain network is called "an ultra-fast decentralized blockchain network based on the next generation consensus algorithm based on Proof of Believability (PoB)". IOST is designed to provide the backbone for future online services. Its open source infrastructure is scalable and secure and aims to solve many challenges in the large-scale application of current blockchain technology.
The background and goals of IOST: With the rapid development of blockchain technology, more and more large enterprises are beginning to pay attention to this field. However, many existing projects face insufficient scalability issues, making them difficult to achieve widespread adoption in customer-facing environments. Based on this, the IOST team is committed to creating a blockchain network that can meet the needs of large enterprises.
IOST's goal is to unleash the power of blockchain to provide enterprises with scalable, efficient, secure, permissionless, neutral, decentralized, and immutable solutions. This vision attracted the attention of many world-class investors, further promoting the development of the project.
IOST’s technical advantages
IOST's PoB algorithm is one of its core competencies, designed to ensure efficient and secure transactions on the Internet. Compared to development platforms such as Ethereum, EOS, and TRON, IOST stands out in terms of scalability. Ethereum processes about 20 transactions per second (TPS), TRON about 2,000 TPS, and EOS can reach 4,000 TPS. However, IOST has a processing capacity of up to 100,000 TPS, which gives it a clear advantage when it comes to handling large-scale transactions.
Self-sufficient ecosystem: IOST’s ecosystem has almost everything a project needs to be completely self-sufficient. Its nodes are run by community members, and as of now, approximately 491 nodes have participated. In order to further grow the ecosystem, IOST has developed a node partner program and is actively looking for people who are interested in helping build the IOST ecosystem. Not only can participants receive rewards, but they can also share profits and jointly shape the future of the project.
The registration and voting process is completely open and will always remain open. In addition, IOST's trading conditions are also quite superior, with low participation thresholds, zero thresholds, and no node caps, and the rewards for participants are relatively generous. This all provides users with a great engagement experience.
Achievements and Development: As of this writing, the IOST project claims to have 559,900 accounts and has processed over 60.9 billion transactions and 1,188 contracts created. These data not only demonstrate the strong potential of IOST, but also show its broad application in the blockchain field.
The future of IOST
With the continuous advancement of blockchain technology and the increasingly rich application scenarios, IOST will continue to leverage its technical advantages to promote the development of the industry. In the future, IOST is expected to become the platform of choice for more enterprises and developers, helping them achieve innovation and breakthroughs in the blockchain field.
The IOST team continues to work on improving and optimizing the network to meet growing user needs. Their vision is not only to create a decentralized network, but also to bring positive impact to society through blockchain technology.
Conclusion
Overall, as an emerging blockchain project, IOST’s technical advantages and the self-sufficiency of the ecosystem make it stand out among many blockchain projects. As more enterprises and developers join, IOST is expected to occupy a place in the future blockchain field and promote further development of the industry.
Whether for investors or developers, IOST provides a platform full of potential that deserves attention and participation. As blockchain technology continues to evolve, IOST will continue to play an important role in this technological revolution to assist the future digital economy.