(IOSTtoken) : The Scalable blockchain for Internet-of-Services

in cryptocurrency •  7 months ago

In the world of crypto, developments are going incredibly hard and we make a lot of changes every day. Until a few days ago nobody had heard of IOSToken, but since 24 January this project has been within the top 70 Cryptocurrency's and has one of the highest trading volumes of all crypto coins! In addition, the price of $2 cents rose on January 16 to 13.5 dollar cents on January 25th. With so few people who know what IOST is doing, it's a good time to see what course the team wants to sail and what they will bring us into the future! Are you also curious about this? Then read on.

What is IOST?

At present, we mainly have centralized service providers. Service providers are companies such as Facebook, KLM, ABN AMRO, TROS Nederland, the Hypotheker, BAM Bouw and all other companies providing a service. The problem of these centralised services is that it can easily be done to privacy violation and that censorship, high commission costs and fraud are still the order of the day. There are already crypto platforms that address this problem, such as Steemit, Ethereum and EOS. However, these platforms run counter to the problem of scalability. This is due to the limitations of the consensus mechanism and the architecture they use. Without improvement in these areas, giants like Facebook and Amazon can never be put on the block chain. The biggest problems currently surrounding block chain are:

The current blockchaintechnologiën cannot scale enough because each node must store the entire block chain before it can join.

Each node is required to handle every transaction on the network. Because each participatory node works on the same transaction, scalability is limited. In addition, due to the increasing use of the block chain, the capacity of your computer needs to be increased in order to be able to participate fully as a node in the network. This requires better equipment and the costs are higher. As a result, the elite can only act as a node and we will fall back into centralization because the power comes into the hands of a handful of people with money.

IOST has been created to solve this problem. It is seen as a next generation block chain technology that is going to provide the perfect network infrastructure for service providers. They create a platform for the so-called IoS, or Internet or Services. This means that all service providers, from large to small, can offer their services on the platform of IOST.

What exactly is the difference between Internet of Things (IoT) and Internet or Services (IoS)?

IoT = Data

Thanks to sensors and the ability to connect devices with each other through WiFi, we can connect all products and have them communicate. Think of a coffee maker that goes on when your alarm rings, or the dishwasher that turns when the clock beats 12 hours.
The large amounts of data produced provide a lot of insights and possibilities only with data only you cannot do anything, it has to be done in the end. Here comes Internet or Services around the corner look.

IoS = Data + Service

Converting produced data from Internet or Things to optimizing your services within the company is called Internet or services. It is extremely important that the data and its use are secure and that the privacy of customers and organisations is maintained. Nowadays this is still the case and there are regularly news reports about Ddos attacks coming out. Block chain is a suitable solution for the strict security policy and IOSToken is going to realize this for us.

On this block chain, they want to invite companies to elaborate on their great ideas. To make this easy, they have created three tools to help:

HUDs

Huds stands for Hyper Universe distributed System and is a decentralized, secure way to store information. It is suitable for both small and large companies like Amazon.
In addition, they use a Micro State Block (MSB). This reduces storage costs.

DApps and Smart Contracts

The DApps and smart contracts form the core of the IOST ecosystem. On the IOST-block chain, programmers can create services and products for the platform in all regular programming languages. This allows any developer to get it out of the feet.

Feedback system

Ecosystem users can provide feedback while using the service. This allows services to be adapted to the wishes of the customer.

Proof-of-Believability

IOST does not use proof-of-Work (mining) such as Bitcoin or proof-of-stake (strike) such as NEO. They have devised a new consensus mechanism, namely proof-of-Believability, or proof of credibility.
Because of this, no Stroomvretende miningapparaten need to be purchased and the scalability of the block chain is not limited. To handle many transactions per second, they use the ' Efficient distributed Sharding ' technology.
The credibility of a node within the IOSToken network is calculated on the basis of the contribution it provides, the behaviour it exhibits, the assessment they receive from the network and the amount of tokens they have in their balance sheet. In addition, an algorithmic randomness has been added to ensure that everything goes fairly.

What is IOSToken?

The IOST team develops a token for the Internet or Services and focuses on high TPS (transactions per second), privacy, scalability that can run everything on the secure Ethereum-block chain.
In total there are 21 billion tokens and there are currently about 6.8 billion in circulation. It was in advance only as an institutional investor possible to invest in IOST. The companies from China, America and Korea were not accepted. This is because the regulations in those countries are very decisive. There was also no ICO in which people like us could buy coins.

Roadmap

The team behind IOSToken wants to proceed according to the following Roadmap:

Popularity

I See clearly that the number of searches of IOST increased when the token was launched on the Binance platform on 24 January 2018. After that, the interest has also declined dramatically.

How to Buy ?

Well you can simply buy IOST from popular international exchanges like Binance, Bitfinex, GDAX etc.

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Coins mentioned in post:

CoinPrice (USD)📈 24h📉 7d
BTCBitcoin9369.970$6.44%-17.04%
EOSEOS6.326$10.64%-22.45%
ETHEthereum736.381$10.4%-14.67%
IOSTIOStoken0.019$11.98%-44.95%
NEONEO92.002$8.65%-26.68%

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your post all so good. i like it @cyberwarriorDQmYfKYGX2M8Qc8nNUi6TqUzHKoeLmafZ6PVBMjt7wjXe5R.gif

Oh wow i didn't have a clue IOST launched on Binance, for some reason in myetherwallet the IOST coins don't have a value yet.

This platform looked really interesting to me and it's a shame i did not push the referral program more i probably could have made alot of money from this one!

Thx for the info, really good to hear IOST is on Binance.