What Is IOST (IOST)?
IOST (Internet of Services Token) is a blockchain platform designed to support the next generation of decentralized applications (dApps) with high scalability, security, and efficiency. Aimed at enterprise-level use cases, IOST enables developers to build and deploy scalable dApps capable of handling massive transaction volumes without compromising speed or reliability.
The platform leverages innovative consensus mechanisms and architectural advancements to solve some of the most pressing challenges in the blockchain space—particularly scalability and network congestion—making it a compelling option for businesses and developers alike.
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Who Founded IOST?
IOST was launched in January 2018 by a team of experienced technologists and entrepreneurs: Jimmy Zhong, Terrence Wang, Justin Li, Ray Xiao, Sa Wang, and Kevin Tan. Each co-founder brings a strong background in computer science, finance, and large-scale tech development.
Jimmy Zhong, a serial entrepreneur, previously founded technology ventures in both the U.S. and China. Notably, he sold a student marketplace for class notes during his college years for $40 million before returning to Beijing to focus on blockchain innovation. His vision for IOST stems from the need to create a scalable infrastructure for real-world service applications.
Terrence Wang, a former software engineer at Uber, holds a master’s degree in computer science from Princeton University and a bachelor’s from the University of Minnesota. His expertise in distributed systems has been instrumental in shaping IOST’s technical architecture.
Justin Li gained experience in investment banking at Goldman Sachs and later worked as a data scientist at Mobike. He graduated with honors in applied mathematics and computer science, bringing analytical rigor to the project’s development.
Kevin Tan, an alumnus of Tsinghua University—one of China’s top engineering schools—was also a co-founder of Ethercap. His academic and entrepreneurial background in computer science adds depth to the team’s technical capabilities.
Ray Xiao and Sa Wang co-founded Dora, an AI-driven company specializing in smart kiosk hardware. Their interdisciplinary education in computer science and quantitative economics has helped bridge the gap between physical infrastructure and digital services within the IOST ecosystem.
Why Is IOST Different?
IOST stands out in the crowded blockchain landscape due to its focus on scalability, security, and enterprise readiness. The platform was built from the ground up to serve as the backbone for future online services, offering an open-source, secure, and highly scalable blockchain infrastructure.
At the heart of IOST’s innovation is the Proof of Believability (PoB) consensus algorithm—a unique alternative to traditional models like Proof of Work (PoW) and Proof of Stake (PoS). PoB evaluates node credibility based on multiple factors such as token balance, contribution to the network, and historical behavior, enabling faster transaction validation while maintaining decentralization and security.
Unlike Ethereum, which handles around 20 transactions per second (TPS), or TRON (~2,000 TPS) and EOS (~4,000 TPS), IOST claims the ability to process up to 100,000 TPS—a significant leap that positions it as one of the most scalable public blockchains available.
To achieve this performance, the IOST team integrated several cutting-edge technologies:
- Distributed Randomness Protocol (DRP): Ensures fair node selection.
- Efficient Distributed Sharding (EDS): Splits the network into parallel processing units to boost throughput.
- TransEpoch: Facilitates smooth transitions between consensus cycles.
- Atomix: Guarantees atomicity across cross-shard transactions.
- Micro State Blocks: Reduce storage overhead and improve verification speed.
These components work together to deliver a robust, high-performance network capable of supporting enterprise-grade applications such as social media platforms, gaming ecosystems, and financial services.
How Many IOST Tokens Are in Circulation?
The total supply of IOST is capped at 21 billion tokens. In January 2018, the project conducted an Initial Coin Offering (ICO), selling 40% of the total supply and raising approximately $31.3 million worth of ETH.
The remaining token distribution is structured as follows:
- 35% reserved by the IOST Foundation for long-term development and ecosystem growth.
- 12.5% allocated to community development initiatives.
- 10% assigned to the core development team.
- 2.5% distributed among early investors and advisors.
This balanced allocation supports sustainable growth while minimizing centralization risks. Over time, tokens are gradually released according to a predefined vesting schedule, ensuring stability in market supply.
Is the IOST Network Secure?
Security is a top priority for IOST, especially given its target use cases involving enterprise adoption and high-value transactions. The platform combines Proof of Believability (PoB) with Efficient Distributed Sharding (EDS) to enhance both security and scalability.
PoB discourages malicious behavior by rewarding trustworthy nodes and penalizing bad actors through reputation scoring. This system reduces the likelihood of attacks such as double-spending or Sybil attacks without relying on energy-intensive mining processes.
Meanwhile, EDS allows the network to process transactions in parallel across multiple shards, significantly increasing throughput while maintaining data integrity. Even if one shard is compromised, the overall network remains secure due to cryptographic safeguards and cross-shard validation protocols.
Designed with enterprise needs in mind, IOST can handle heavy workloads similar to those managed by tech giants like Amazon, Google, and Facebook. Its architecture supports real-time data processing, low-latency responses, and high availability—critical features for large-scale digital services.
Strategic partnerships have also played a key role in strengthening IOST’s ecosystem and credibility. Collaborations with industry players help validate its technology and expand its adoption across sectors such as finance, entertainment, and supply chain management.
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Where Can You Buy IOST (IOST)?
IOST is listed on several major cryptocurrency exchanges worldwide, making it accessible to both retail and institutional investors. You can purchase IOST using fiat currencies like USD or EUR, or trade it against popular cryptocurrencies such as Bitcoin (BTC) or Ethereum (ETH).
When choosing an exchange, consider factors like trading fees, liquidity, security measures, user interface, and customer support. Always store your tokens securely using hardware wallets or trusted non-custodial solutions after purchase.
Frequently Asked Questions (FAQ)
Q: What is the main purpose of IOST?
A: IOST aims to provide a scalable, secure blockchain infrastructure for building decentralized applications that can support high-volume services used by millions daily.
Q: How does Proof of Believability differ from other consensus mechanisms?
A: Unlike PoW or PoS, PoB selects validators based on a composite score including token holdings, network contributions, and behavior history—making it more efficient and resistant to manipulation.
Q: Can I stake IOST tokens?
A: Yes, users can participate in staking by becoming validators or delegating their tokens to trusted nodes, earning rewards while helping secure the network.
Q: What makes IOST faster than Ethereum?
A: IOST uses sharding and PoB to enable parallel transaction processing and faster validation, achieving up to 100,000 TPS compared to Ethereum’s current capacity of around 20 TPS.
Q: Is IOST suitable for enterprise use?
A: Absolutely. With high throughput, low latency, and strong security features, IOST is designed specifically for enterprise-grade decentralized applications.
Q: Where can I check live IOST price charts?
A: Real-time price data, market cap, trading volume, and historical charts are available on major crypto tracking platforms and exchanges.
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