BLOCKONOMIST
Read News

Read News For Me

Learn how IOST Network can meet the needs of scalability and security. Is it undervalued?

IOST is a decentralized blockchain network having its own wallets and nodes, which describes itself as an ultra-fast network. Launched in 2018, the infrastructure of IOST is open source and aims to be scalable and secure. It uses a proof-of-believability consensus mechanism developed by its team for ensuring safe and efficient transactions on the platform.

The Network aims to provide a blockchain technology that the population can quickly adopt via a service product. It builds the architecture for online services meeting the requirements of scalability and security by the decentralized ecosystem. The Network's design ensures the formation of a voting and committee process where nodes having more votes are given a higher probability for producing a block. Notably, here most nodes are qualified to create blocks. Its native token, IOST, serves as a medium of exchange for all the transactions.

IOST Network offers higher throughput, i.e., it can achieve higher Transactions per second compared to Ethereum Network because of its Proof-of-believability algorithm. It also provides the developers to build using Python, Go, and Javascript. IOST is emerging as an alternative option for DeFi projects due to its partnership with Donnie Finance. Notably, Donnie Finance is a financial service platform that offers a considerable number of services including, asset management, credit analysis, and decentralized exchanges.

The current market price of IOST is $0.05568 after a decrease of 5.51% over 24-hours. It had its all-time high at $0.1267 in January 2018, with a 24-hour trading volume of more than $619 million. The platform is unique that uniquely solves the problems of the marketplace by creating an internet of services ecosystem. The token accompanies many inventions and tackles the issue of scalability in the decentralized ecosystem.

Seeing its all-time graph, it can be expected that its price might rise in the near future because it is still far away from its all-time high price and can rise to reach its intrinsic price. Additionally, the IOST network constantly tries to add more value by more exciting updates and meaningful partnerships.