IOST’s ecosystem consists of partnerships with Node Staking platforms like Moonstake, Ankr, Binance Staking, and Zelo. The network also has some of the finest DeFi platforms including IOStarter, Polkadot, Fortube, Yokozina Finance, Chainlink, and many more.
IOST was founded by Jimmy Zhong, Terrence Wang, Justin Li, Ray Xiao, Sa Wang and Kevin Tan in 2018. Jimmy Zhong founded a few tech enterprises in the U.S and China. Now, he is one of the co-founders of IOST blockchain.
Terrence Wang was associated with Uber as a software engineer. He pursued Computer Science from the ‘University of Minnesota’ and Masters in Computer Science from ‘Princeton University’
Justin Li is an ex-Goldman Sachs and has worked as a data scientist at Mobike.
Kevin Tan co-founded Ethercap and graduated from Tsinghua University with a Computer Science degree.
Ray Xiao studied computer science and quantitative economics at Tufts University. He also co-founded Berminal – Bloomberg Terminal of the blockchain space. Emogi – the most popular crypto short video app in Latin America.
IOST works on a community-driven model by juxtaposing two concepts ‘Proof of Stake’ and a voting mechanism to choose the right participants to join the network. For anyone to build on the blockchain, an individual will have to pledge a number of tokens to be deemed as a ‘trusted node’ which is the first step of building on the blockchain.
The next step involves validators joining the network to participate and become a part of the network. As validators enter the ecosystem they will be put through a competition to assess their ability to become trusted validators. The participants who get through the second stage receive Servi – a reputation score required to become a part of the network.
In order to reach faster TPS, IOST developers have created a cutting-edge blockchain architecture, which introduces and combines several tech stacks including a Distributed Randomness Protocol, Efficient Distributed Sharding, TransEpoch, Atomix, Proof-of-Believability and Micro State Blocks.
IOST offers an ultra-fast response on block validation of 0.5 seconds making it one of the fastest networks to build and validate blocks. Faster and uninterrupted block validation on the network is possible owing to POS mechanism and a network of validators that hold a reputation score which not only makes the block validation faster but also secure.
Stake IOST tokens pay gas fee on your behalf to the network. This makes the blockchain all the more sustainable and scalable.
The IOST network can manage up to 8000 transactions per second (TPS). The network has stabilized post the mainnet launch. No Down Time as the network has a robust consensus algorithm ‘Proof of Believability’.
Use this three-step process to buy your first IOST using the CoinDCX crypto app.