IOST Price Analysis: IOST Trading at Crucial Support Fibonacci Level

IOST has experienced a small 2.61% price hike over the past 24 hours of trading. The cryptocurrency is currently trading at $0.0206 after suffering a steep 10% decline over the past 7 trading days.

IOST is a relatively new project which launched on January 16, 2018, making the coin just 7 months old. It has been slated as a “next generation” blockchain, and a solution to the scalability problems currently plaguing the blockchain industry.

IOST uses a range of scalability proposed solutions to provide an on-chain blockchain which the team promises can achieve over 100,000 transactions per second.

One of the main features of the IOST blockchain is its Proof-of-Believability (PoB) consensus mechanism. This is a new style of consensus which creates 2 leagues of nodes that verify transactions on-chain: believable nodes and normal nodes.

The believable nodes quickly process transactions as fast as possible. The selection process to become a believability node relies on the nodes…