IOSToken-Internet of Services Token ($IOST)
What makes IOSToken different?
One of the largest concerns that opponents of Bitcoin have at the moment is easily scalability. Right now, less than 5% of the world's population owns a cryptocurrency. Could you imagine if we brought the constant traffic of a company such as amazon, ebay, facebook, etc. to the Bitcoin blockchain? Fees would be through the roof and processing times would be embarassing to say the least... enter IOSToken.
$IOST boasts an impressive 100,000 transactions per second which is light years faster than Bitcoin. IOST achieves this through it's 'EDS' or Efficient Distributed Sharding. EDS is a "divide and conquer" strategy for transaction validation. While most blockchains have the entire network validating the same set of transactions, EDS breaks the network into subspaces or "Shards" and gives them sets of transactions to validate.
WHOA WHOA WHOA... Hodl the funk up...
"So they're gonna have groups of people verifying random transactions instead of the whole network? I thought this was a Blockchain. Isn't that how this works? What happens when a group or "Shard" is malicious and compromises the integrity of the blockchain?" .... These were all questions going through my mind as I was reading about EDS in the whitepaper.... enter DRP **didn't think I could use that segway twice?**
DRP or Distributed Randomness Protocol has quite the convoluted explanation in the whitepaper so in a nutshell with DRP the network generates a random value which is not revealed to either entity before the transaction is ok'd by both ends. IOST claims the DRP value will be uniformly random which also helps ensure that it is not able to be forged.
IOST Road Map
Behind the Scenes
IOST was founded by a group of five people:
- Terrence Wang
- Jimmy Zhong
- Kelvin Tan
- Ray Xiao
- Bosch Lee
Unlike most ALTcoins, the founders of IOST are all majors in computer science as is most of the team surrounding them as opposed to having a huge marketing team with one developer.
Thats all I got on this one. No real chart data here as this coin is so new with only being launched on Jan. 18th, but my target still stands for $.50 by the end of the year. You're buying the people and the brains here.
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