IOST Review 2019: Still Worth It??

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► Complete Review: https://www.coinbureau.com/review/dusk-network/
► Sharding: https://www.coinbureau.com/blockchain/speeding-blockchain-transactions-sharding/

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⛓️ 🔗 Helpful Links 🔗 ⛓️

► Website: http://iost.io/
► Whitepaper: https://docsend.com/view/ihwqcdg
► GitHub: https://github.com/iost-official/go-iost
► Wallets: https://iost.io/demo-home/wallet-en/

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📱️ Socials 📱

► Blog: https://medium.com/iost
► Twitter: https://twitter.com/IOStoken
► Telegram: https://t.me/officialios

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📝 Project Overview 📝

IOST stands for the “Internet of Services Token” and the project is focused on scalability.

It was launched back in 2018 as an alternative to Ethereum that could also be used for building decentralised applications.

⚙️ Technology ⚙️

IOST has a sharding based approach to their blockchain.

IOST uses Efficient Distributed Sharding (EDS) which incorporates a number of innovations such as Distributed Random Protocol and Atomix.

For consensus, IOST uses a Proof-of-Believability method. With this mechanism nodes are validated based on past contributions and behavioural patterns.

This system also incorporates a “fairness” algorithm that randomly distributes data to various nodes in order to help guarantee a fairly decentralized blockchain protocol.

To combat bloat that arises from all nodes storing the blockchain, IOST uses a Micro State Block generation protocol

💰️ Token 💰

IOST is the token that is powering the network.

It will be a medium of exchange, a factor in node’s believability score as well to be used for dApp execution and deployment.

These tokens were initially issued on the Ethereum blockchain as ERC20 tokens but have subsequently moved to a native token with the recent mainnet launch.

The team minted the entire 21 million token supply and sold 40% of that in private sale.

👨‍💻️ Team, Partners & Development 👨‍💻

The IOST team consists of over 30 members that are spread across Asia and North America.

The core team include a Forbes 30 under 30, a national Olympiad, a serial entrepreneur and numerous other roles.

There is also a number of companies and VCs that have backed the project including the likes of Huobi, FBG Capital, and Sequoia Capital.

Development of the protocol has been going strong as is evidenced by their GitHub Commits.

📈 Trading & Wallets 📈

IOST is listed on a number of exchanges.

Volume seems to be evenly distributed although Huobi appears to have the healthiest order books.

On these books, there is decent turnover and hence strong liquidity for easy IOST execution.

For storage, it will depend on token type. ERC20 tokens can be stored in any wallet that supports Ethereum.

If converted to a native token there are only a few wallets that support it. These are all listed on the website.

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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