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About IOST

IOST is an enterprise-grade blockchain network designed to meet the security and scalability needs of a decentralized economy. Launched in 2018, IOST aims to pioneer a new architecture for decentralized networks, enabling the platform to process thousands of transactions per second without sacrificing decentralization or security.

History of IOST

IOST was founded by a team of blockchain engineers and entrepreneurs including Jimmy Zhong, Terrence Wang and Ray Xiao. The project was launched through one of the most successful ICOs in early 2018, raising over $31 million to fund development. Since then, the IOST team has focused on building out the technology and ecosystem.

Key milestones include launching the first version of the network in early 2019, introducing the Proof-of-Believability consensus in 2020 and launching partnerships with companies like Alibaba Cloud. Today IOST stands as one of the leading enterprise blockchain platforms, working with major corporations across Asia.

IOST’s Unique Technology

At the core of IOST is its proprietary Proof-of-Believability consensus algorithm. Unlike Proof-of-Work or Proof-of-Stake, PoB aims to address the trilemma of scalability, decentralization and security in blockchain networks.

PoB utilizes a Byzantine Fault Tolerance protocol along with several innovations like Servi to verify nodes based on their contributions to the network. This allows IOST to process thousands of transactions per second without compromising decentralization.

IOST also introduces the Efficient Distributed Sharding framework. This allows the network’s transaction processing and ledger data to be split into different shards while still ensuring security and cross-shard transactions.

IOST Consensus Mechanism

IOST utilizes a Proof-of-Believability consensus that is optimized for enterprise use. Here’s how it works:

The network is secured by Node Partners who stake IOST tokens and run infrastructure for IOST. Their believability score is calculated based on metrics like uptime, contributions to the ecosystem and IOST held.
Transactions are validated by a randomly selected group of 17 Node Partners using a BFT protocol. This allows for fast confirmation times.
The top-ranked Node Partners in believability rankings participate in sharding and bookkeeping. They have a higher chance to generate blocks and receive rewards.

This ensures security while incentivizing Node Partners to actively contribute to the ecosystem.

IOST’s Main Features

Some of the key features that set IOST apart include:

High scalability of up to 8,000 TPS for complex transactions
Support for smart contracts and dApps in multiple languages
Low transaction fees and fast confirmation times
On-chain governance system allowing the community to vote on proposals
Cross-chain bridge support allowing interoperability with different chains
Decentralized domain name service for simplified blockchain addresses
Suite of developer tools like HyperSnap for efficient dApp development

IOST is built to be the ideal blockchain for businesses and developers building real-world solutions.

IOST Token and Economics

The native utility token of the IOST network is also called IOST. It is used to pay for resources and services on the network.

IOST has a total max supply of 21 billion tokens. These are distributed to Node Partners, the community, developers and investors supporting the network.

The IOST staking model incentives users to stake IOST tokens to contribute to the network’s security while earning rewards. There are over 400 million tokens staked on the network today.

IOST token economics are designed to ensure the long-term sustainability of the network. The focus is on driving real utility and adoption.

IOST Dapps and Ecosystem

IOST has one of the most vibrantapplication ecosystems in blockchain, with over 500 dApps and 300 million transactions executed so far.

Leading dApps include Bermi social media, NodeHover nodes monitoring and the Kalata card game with 50,000 daily active users. IOST is also popular in China with apps like Donnie Finance.

IOST provides resources and assistance to developers to make it easy to build on the platform. The ecosystem spans domains like DeFi, NFTs, identity solutions, supply chain management, retail and gaming.

The number of dApps and users on IOST will likely continue growing rapidly in future as blockchain adoption increases globally.

IOST Development Team

The IOST blockchain network was co-founded by Jimmy Zhong, Terrence Wang and Ray Xiao in 2017. The core team consists of over 80 members with extensive experience across blockchain, computer science, engineering and business.

Jimmy Zhong acts as the CEO of IOST. He was previously involved with companies like Google and Uber as a software engineer. His focus is on strategizing IOST’s growth and adoption.

Terrence Wang is the CTO of IOST. He has over a decade of experience in Silicon Valley working on distributed systems and blockchain. He heads the engineering team at IOST.

Ray Xiao is the CFO and Operations Manager at IOST. He has experience running technology startups and oversees corporate development activities.

The IOST development team also consists of blockchain researchers and engineers like Kelvin Tan, Justin Sun and Sa Wang who designed innovations like Proof-of-Believability.

There are also partnerships with academic institutions like the National University of Singapore to bolster research efforts.

Overall, the IOST core team and contributors have the diverse experience and expertise required to support the development and adoption of the IOST blockchain globally.

IOST Growth Potential

As one of the leading enterprise-focused blockchains, IOST has immense potential for long-term growth and mainstream adoption.

With its robust technology and focus on practical use cases, IOST is poised to see increasing real-world adoption especially across industries in Asia. The network plans to enable compliant blockchain solutions for sectors like finance, healthcare, supply chains and more.

The developer community and user base will expand exponentially as IOST focuses on ease of use and developer onboarding.

There is also scope for innovative developments on the network like decentralized finance (DeFi) applications as the technology matures. Overall, IOST is uniquely positioned to be a pioneer in enabling large-scale blockchain adoption worldwide.

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FAQ

IOST, oder Internet of Services Token, ist eine dezentralisierte Blockchain-Plattform. Sie wurde für Online-Dienstleister entwickelt und zielt darauf ab, eine skalierbare und sichere Infrastruktur bereitzustellen. Ihre Technologie verspricht einen hohen Transaktionsdurchsatz und verwendet einen einzigartigen Konsensalgorithmus, was sie zu einem bemerkenswerten Akteur im Blockchain-Bereich macht.

IOST wurde von einem Team aus erfahrenen Technologen und Unternehmern gegründet. Zu den Schlüsselfiguren gehören Jimmy Zhong, Terrence Wang, Justin Li, Ray Xiao, Sa Wang und Kevin Tan. Ihre unterschiedlichen Hintergründe in den Bereichen Blockchain, Technologie und Geschäftsentwicklung haben die Vision und Ausrichtung von IOST geprägt.

IOST arbeitet mit einem einzigartigen Konsensmechanismus namens “Proof of Believability” (PoB). Dies ermöglicht hohe Transaktionsgeschwindigkeiten bei gleichbleibender Sicherheit. Die Knoten werden auf der Grundlage ihrer Beiträge und ihres Verhaltens validiert, nicht nur anhand der Anzahl der gehaltenen Token, was einen Unterschied zu herkömmlichen Proof-of-Stake-Systemen darstellt.

IOST wird für verschiedene Anwendungen eingesetzt, insbesondere in dezentralen Anwendungen (DApps) und Dienstleistungen. Aufgrund der hohen Transaktionsgeschwindigkeit und der skalierbaren Infrastruktur eignet sich IOST für Anbieter von Online-Diensten, darunter Spiele, Online-Marktplätze und dezentrale Finanzplattformen (DeFi).

IOST kann auf verschiedenen Kryptowährungsbörsen gekauft werden. Beliebte Möglichkeiten sind Binance, Huobi und OKEx. Käufer sollten sicherstellen, dass sie seriöse Börsen nutzen und sichere Handelsmethoden anwenden.

Die sichere Aufbewahrung von IOST-Tokens kann durch verschiedene Wallets gewährleistet werden, die die IOST-Blockchain unterstützen. Zu den Optionen gehören Hardware-Wallets wie Ledger oder Trezor für zusätzliche Sicherheit oder Software-Wallets wie Cobo Wallet und TokenPocket für mehr Komfort.

IOST zeichnet sich durch seinen Proof-of-Believability-Konsens aus, einen neuartigen Ansatz, der Skalierbarkeit und Sicherheit gewährleistet. Dadurch ist es effizienter als herkömmliche Proof-of-Work-Systeme und umfassender als Standard-Proof-of-Stake-Modelle. Sein Engagement für die Förderung eines entwicklerfreundlichen Umfelds hebt es ebenfalls aus dem Blockchain-Ökosystem heraus.

Im Gegensatz zu traditionellen Kryptowährungen wie Bitcoin kann IOST aufgrund seines einzigartigen PoB-Konsensmechanismus nicht im herkömmlichen Sinne gemined werden. Stattdessen können Teilnehmer zu Validierern oder “Servi Nodes” im Netzwerk werden, die zur Netzwerksicherheit und Transaktionsüberprüfung beitragen und dafür Belohnungen erhalten.