Introduction
IOST (Internet of Services Token) is a high-performance blockchain platform designed for scalability, security, and enterprise adoption. This guide explores its technology, team, use cases, and market position.
Who Founded IOST?
Launched in January 2018, IOST was co-founded by:
- Jimmy Zhong (CEO): Serial entrepreneur who sold a student marketplace for $40M during college. Previously worked on tech ventures in the U.S. and China.
- Terrence Wang (CTO): Ex-Uber software engineer with a master’s in computer science from Princeton.
- Justin Li: Former Goldman Sachs investment banker and Mobike data scientist.
- Ray Xiao: Founder of AI hardware company Dora.
- Sa Wang & Kevin Tan: Key contributors with backgrounds in computer science and blockchain development.
What Makes IOST Unique?
Scalability Solutions
IOST claims to process 100,000 transactions per second (TPS), outperforming competitors:
| Blockchain | Max TPS |
|------------|---------|
| Ethereum | 20 |
| TRON | 2,000 |
| EOS | 4,000 |
Key innovations:
- Proof of Believability (PoB): A consensus algorithm combining sharding and decentralized randomness.
- Efficient Distributed Sharding (EDS): Enhances throughput without compromising security.
- Micro State Blocks: Reduce storage requirements for nodes.
Enterprise Focus
IOST targets corporate use cases like supply chain management and digital identity, aiming to compete with cloud providers (e.g., AWS, Google Cloud).
IOST Tokenomics
- Total Supply: 21 billion IOST.
Distribution:
- 40% sold in ICO (raised ~$31.3M).
- 35% held by IOST Foundation.
- 12.5% for community development.
- 10% team allocation.
👉 Buy IOST tokens securely here
Is the IOST Network Secure?
IOST employs:
- PoB consensus to prevent centralization.
- EDS for fault-tolerant sharding.
- Regular audits and partnerships with cybersecurity firms.
Where to Buy IOST (IOST)?
Major exchanges listing IOST include:
- Binance
- OKX
- Huobi
- Gate.io
FAQ
1. What is IOST’s main advantage over Ethereum?
IOST offers higher TPS (100,000 vs. Ethereum’s 20) and lower fees, making it suitable for enterprise applications.
2. How does Proof of Believability work?
PoB selects validators based on "believability scores," combining stake, contributions, and random selection.
3. Can I stake IOST?
Yes! IOST supports staking to earn rewards via its PoB mechanism.
4. Is IOST decentralized?
While optimized for speed, IOST maintains decentralization through its sharded architecture.
5. What industries use IOST?
Gaming, DeFi, and supply chain are primary sectors leveraging IOST’s scalability.
Conclusion
IOST stands out for its cutting-edge scalability solutions and enterprise-grade blockchain infrastructure. Its focus on high TPS and security positions it as a strong competitor in the smart contract platform space.
For more blockchain insights, explore our crypto guides.
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