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IOST – a cryptocurrency quite familiar to crypto traders and investors, and Blockchain technology will undoubtedly promise to bring high transaction speed and infinite scalability terms. In this article, Cryptocoin24h will help you find out what IOST coin is? Detailed information about IOStoken cryptocurrency.
What is IOST?
IOST stands for Internet of Services – a blockchain platform designed specifically for services traded or bought and sold over computer networks such as digital products and online services.
Platform IOST provides a new decentralized ecosystem for online service providers and users focused on fast security transactions based on Blockchain technology. IOST uses PoB (Proof-of-Believability) consensus algorithm, and EDS (Efficient Distributed Sharding) system, IOST's network can handle 100,000 transactions per second. In addition, the IOST platform's protocol allows developers to deploy decentralized applications – large-scale DApps with a large number of users simultaneously, which is what most current blockchain technologies do. It is impossible to do.
What are the features and characteristics of the IOST coin?
To understand the features and characteristics of What is IOST coin, refer to the following:
- Using the HUDS data storage system: Data storage is the backbone of any ecosystem. With the Hyper Universe Distributed System (HUDS) data storage system – this system uses blockchains to store a lot of data. From there, it creates a secure way of storing data, making it easy to find, and at the same time, economical to store information.
- Using a self-designed EDS: EDS distributed system in IOST coin – IOStoken is designed to reduce the processing of transactions for each confirmation. This will increase the total capacity to be processed faster.
- Fair and transparent feedback system: Users will have the opportunity to provide feedback after completing the service. Using a tailor-made FTFS application can ensure all feedback is reliable.
History and development roadmap of IOStoken – What is IOST coin?
- Q2/2017: Introduce the basic concept of IOS (Internet of Services).
- Q4/2017: Started building core team to develop platform IOStoken
- Q1/2018: Test run the private MVP application
- Q2/2018: Launching test version of EDS (Efficient Distributed Sharding) and PoB consensus mechanism
- Q3/2018: Launching private smart contract of the platform
- Q4/2018: Launching HUDS data storage system
- Q1/2019: Launching test version IOSVM
- Q2/2019: Checking security system of the IOS network
- Q3/2019: Launching its own network of customers and wallets IOS
- Q4/2019: Reviewing and optimizing the platform
Who is the development team of IOStoken?
Co-founders including lead the IOStoken project cryptocurrency
- Terrence Wang: A person with five years of professional experience in research in the market and distributed algorithms. Also, a team member developed CoinLang at Princeton, a programming language that helps upgrade the Bitcoin cryptocurrency.
- Ray Xiao: Zhenfund investor and Advisor of many startups in New York and BeijingFounder of many successful
- Jimmy Zhong: businesses in the digital currency market. And be the first to mine BTC and ETH early.
- Bosch Lee : Senior Strategist at Mobike
- Kelvin Tan: Informatics gold medalist in ACM/ICPC Region and CTO of EtherCap
You can see more information on the website iost.io
Epilogue
Above is an article on “what is IOST coin? For more information about electronic money, IOStoken ” Hope to help you get an overview of IOST coin – IOSToken. Follow Cryptocoin24h to learn more about the cryptocurrency market, asset tokenization & blockchain.
What are some frequently asked questions about the IOST coin?
What is the current price of IOStoken virtual currency?
IOST cryptocurrency has been listed on CoinMarketCap since January 2018, with a price of 0.023 USD.
Currently, on October 23, 2021, IOST is listed with a price of $0.0518. You can see more information here: https://coinmarketcap.com/currencies/iostoken/ What exchange do you
Buy and sell IOStoken coins on?
You can now trade coin IOStoken at many large and small exchanges worldwide, including Binance, BigONE, Kucoin, Huobi, OKEx, Lykke Exchange, OTCBTC, DDEX, etc. Cobinhood through IOST/BTC pairs, IOST/ETH, and IOST/USDT.
The trading volume through Binance and Huobi excFhanges is the largest.
Which wallet can store IOST coin?
IOST coin is created according to the ERC-20 standard of Ethereum, so the wallets that can store it will have to follow the ERC20 standard, and the commonly used types today are Trezor, MyEtherWallet, Ledger Wallet, .. to store. IOST coin.
