IOST Price

IOST is a blockchain platform that uses the innovative Proof of Believability (PoB) consensus algorithm to achieve high transaction speeds without compromising security. Currently ranked 593 with a price of $0.001055, IOST serves as the native utility token of the ecosystem. The platform enables developers to build and deploy large-scale decentralized applications while facilitating the exchange of digital goods and online services. IOST operates on its own blockchain and has expanded to other networks including BNB Chain. The token has a circulating supply of 32.83B IOST with a maximum supply cap of 90B IOST. In the past 24 hours, IOST has seen a price change of -1.67% with a trading volume of $7.01K. The IOST ecosystem focuses on IoT and hardware applications, making it particularly valuable for real-world use cases that require scalable blockchain infrastructure.

IOST was created in January 2018. The project raised $35 million through private funding in 2017 without conducting an ICO (Initial Coin Offering). IOST initially launched as an ERC-20 token on the Ethereum blockchain before transitioning to its own mainnet. With a maximum supply cap of 90B IOST, IOST was designed to provide an ultra-high TPS (Transactions Per Second) blockchain infrastructure to support a decentralized service economy.

IOST was founded by a team of seven visionaries: James Zhong, Ray Xiao, Terrence Wang, Tiancheng Li, Samantha Wang, Bosch Lee, and Kelvin Tan. This diverse founding team brought together expertise in blockchain technology, software development, and business strategy to create the IOST ecosystem. Their combined vision was to build a scalable, secure blockchain platform that could support enterprise-level applications while maintaining decentralization principles.

IOST operates on a high-performance blockchain using the Proof-of-Believability (PoB) consensus mechanism. This innovative protocol selects validator nodes based on their contribution and credibility, ensuring both security and efficiency. IOST achieves up to 100,000 transactions per second through its Efficient Distributed Sharding technology, which divides the network into parallel subspaces. The IOST token serves multiple functions within the ecosystem: • Transaction fees payment • Staking for network security • Governance voting rights • Rewards for validators and contributors With a current price of $0.001055 and market cap of $34.63M, IOST ranks #593 among cryptocurrencies. The network has 32.83B IOST tokens in circulation out of a maximum supply of 90B IOST. IOST's architecture includes innovative components like TransEpoch (for efficient transactions), Atomix (for atomic commits), and Micro State Blocks (for quick validation), making it ideal for dApps, DeFi, and IoT applications requiring high throughput and low latency.

IOST employs a unique technical architecture called Proof-of-Believability (PoB) consensus mechanism, which solves the blockchain trilemma by balancing security, scalability, and decentralization. The architecture consists of: 1. Microstate Blocks: Enables parallel processing of transactions for higher throughput 2. Efficient Distributed Sharding (EDS): Divides network into shards for parallel validation 3. TransEpoch: Handles validator rotation and cross-shard transactions 4. Atomix: Ensures consistency across shards IOST's infrastructure includes the Internet of Services Virtual Machine (VM) for smart contract execution and the Servi mechanism that rewards node contributions. The network can process up to 100,000 transactions per second through its multi-layer architecture, making it suitable for enterprise-grade applications while maintaining decentralization. The system also incorporates Byzantine Fault Tolerance to ensure network security even if some nodes fail or act maliciously.

IOST has a comprehensive roadmap divided into three key phases: Everest, Olympus, and decentralization. The IOST team continues to focus on enhancing their blockchain infrastructure with improved scalability, security, and interoperability. By 2027, IOST plans to expand its ecosystem through strategic partnerships with IoT companies and DeFi protocols, leveraging its position in both hardware and IoT sectors. The team is actively developing cross-chain capabilities to connect with other major blockchains, which could significantly increase adoption. With a current ranking of 593 and market cap of $34.63M, IOST shows potential for growth as it implements its technical roadmap. The project's focus on enterprise solutions and continued development of its BaaS (Blockchain-as-a-Service) offerings positions it well for increased institutional adoption in the coming years.