IOS or The Internet of Services is a new infrastructure that is built for one purpose only-fixing the blockchain scalability issue. Interestingly enough, the platform has its own token- IOST for short.
You can see that many people are calling IOS as a more secure and scalable blockchain and it works. The blockchain promises more than 100.000 transactions per second and if it succeeds in this intention, it will go way ahead of the current popular blockchain. Currently, IOST has a market cap of $260 million and it’s trading since the middle of January.
The way this system works is that a single node is validated only if it’s based on the past contributions. It also uses a so-called ‘’fairness’’ algorithm that distributes the data randomly through various nodes. The team behind it is hoping to create a more intelligent blockchain.
According to them: “IOStoken largely improves the scalability of the network by dynamically partitioning the IOS network into subspaces via a secured, bias-free stochastic process’’.
There are a few methods of scalability that this blockchain offers such as Scaleout, Atomix, and BRDR.
This blockchain is mostly focusing on supporting services with a huge customer base and also they prioritize smart contracts as well.
The Team behind IOS has more than 10 employees and 3 co-founders one of which can be found in the Time’s 100 Most Influential People. Most of the employees are coming from very high-level universities such as Berkley, Princeton, and Harvard.
Until today, more than 10 companies have invested in the IOS platform and the number is rising very fast. IOS tokens can be found on popular exchanges such as Binance or KuCoin.
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