Each week, the Jumpstart Blockchain senior analysts review and recommend one blockchain project that has a potential to disrupt the respective industry. In this analysis and research, we thoroughly review the product, the vision, the team, and various parameters of success of a product.
This week’s blockchain project of the week is IOST blockchain.
IOST’s mission statement is:
IOST is building an ultra-high TPS blockchain infrastructure to meet the security and scalability needs of a decentralized economy. Led by a team of proven founders and backed by world-class investors, our mission is to be the underlying architecture for the future of online services.
SCALABLE, EFFICIENT & SECURE
Our network scales for global use while ensuring the usability and integrity required for mainstream adoption
Our powerful consensus algorithm “Proof-of-Believability” enables next-gen transaction throughput speeds while ensuring nodes stay compliant, using factors including IOST token balance, reputation-based token balance, network contributions and user behaviors.
A faster grade Byzantine Fault Tolerance mechanism, microstate blocks, Atomic Commit protocol and a dynamic sharding protocol (Efficient Distributed Sharding) all ensure transactions are safeguarded, consistent and lightning fast while reducing storage, configuration costs and processing power for validators.
PERMISSIONLESS & NEUTRAL
We are committed to a permissionless and transparent network that is open source and accessible for all
Anyone is able to participate in every layer of our system, from using services on our blockchain to running a node and validating transactions. Our rules and code are open for all to see and no preconditions will limit participation.
IOST aims to fundamentally disrupt previous methods of business by creating a self-operated, trustless network that maximizes network value for all parties. We challenge the systems that came before us and aim to create a model which cannot be skewed to favor the few at the expense of the masses.
IOST Token
IOSToken (IOS Coin) is an ERC20 token and is part of Ethereum blockchain. IOST can be on any Ethereum-compatible wallet, including MyEtherWallet, MetaMask, Mist and other wallets. IOST is exchanged on Binance, OKEx, Bitfinex and Kucoin crypto exchanges.
Current IOST market cap is $98 million and the price of the IOST Coin is $0.011791 USD, according to CMC.
