IOStoken (IOST) is for sure one of the youngest ICOs in the market as it has been trading for only a couple of months from ever since it was launched for live trading. During this time, IOStoken made a remarkable movement on the market by climbing up near the top 50 best coins in accordance with global coin ranking list. That is how IOST made us all wonder if it was possible for this young coin to hold a massive potential with a possibility of also being one of the most promising tokens in the market.
What You Need to Know about IOStoken
In case you are wondering what IOStoken (IOST) stands for, the most important thing to know about this currency is that it revolves around monetizing services. That being said, the main objective of IOST is to create an ecosystem with a strong focus on the Internet of Service.
By creating this type of blockchain-based decentralized environment, IOST would enable its users to easily operate on the Internet of Service while being able to sell and trade with services, while the payments would be done in a matter of seconds thanks to the blockchain technology.
IOStoken is currently set on Ethereum’s ledger and on top of ETH blockchain where it makes up for a blockchain-based ecosystem that supports and advocates for the idea of the Internet of Service.
Given the fact that this currency is resting in Ethereum, it is created and launched as an ERC20 type of token with its primary sale launched precisely on ETH network. However, there are strong indications that IOStoken will as of very soon have its own platform, which means that IOST has a great potential for becoming its own native token in the time to come.
The technology this token uses is maybe one of the things that helped it differentiate itself from other ICOs. This is the case because instead of using Proof-of-Work or Proof-of-Stake protocols for smart contracts like other currencies usually go for; IOStoken is using a completely different protocol.
This protocol is called Proof-of-Believability, which means that this protocol works in a way of checking the operating nodes for behavior and contribution of all users included in the network. To assure fair judgment in this protocol, the algorithm has been proven for randomness.
Another one of many reasons why investor and especially institutional investors showed great interest in IOST’s first and original sale is its scalability and efficiency. The mentioned efficiency is achieved partially thanks to the Proof-of-Believability that is being used as a protocol for IOST. This protocol makes up for a very efficient protocol that doesn’t demand great amounts of energy, which is what blockchain technology is aiming at as it is being rapidly developed in the past couple of years.
Launching Its Main Net
IOST dev team has released their Test Net a couple of weeks ago for their users to be able to test the network and provide feedback on the work that has been done by far, However, it is expected to see IOST Main Net being launched which would hopefully occur pretty soon.
What caught all IOStoken (IOST) holders in surprise is the announcement made by the dev team about having all IOST locked until the Main Net is launched. That means that tokens won’t be available, but will rather rest in escrow until the date of the Main Net launching when all IOST tokens would again become available and out of the public wallet. The mentioned public wallet holds over 7 billion IOST tokens and given the fact that it is public it can be viewed by users and holders at any time of the day during the lockup.
IOStoken and the Market
After the latest change in the market, IOST has shown some astonishing moves against the dollar as this currency started to trade up in the green against this fiat value.
With the most recent gains of 21.58% against the dollar, IOStoken is trading up in the green while also trading up against BTC and ETH.
In the last 24 hours, IOST has gone up against BTC for 20.08% while it went up in oppose to ETH by 15.48.
That means that IOStoken can now be purchased at the price of 0.049, which is getting closer to its all-time high of around 0.13$ per one token as marked back in January. In case IOStoken (IOST) continues to collect partnerships, listings and market gains while we are waiting for the Main Net launch, it is more than evident that with the expected launch this token holds a great potential of becoming one of the most promising tokens in the market.