IOS (Internet of Services) is a next-generation blockchain technology that provides network infrastructure to support a service-oriented ecosystem. The IOS platform provides its users with a fully decentralized way to exchange online services and digital goods. Also, it allows developers to deploy large-scale dApps with the ability to support a large number of users.
IOST is a native token of the system. Until the launch of the mainnet in February 2019, it was an ERC-20 token based on the Ethereum platform. The blockchain utilizes Proof of Believability concept, which totally improves scalability and security.
During the ICO, the team got $31.3 million worth of Ethereum cryptocurrency. The coin price has been around the same since May. What awaits the IOST in the future? Find out in the new IOST price prediction for 2020 by Changelly!
IOST Fundamental Value
The IOStoken cryptocurrency decentralized platform will allow you to create full-scale independent applications like DApp, which are able to support an unlimited number of participants at the same time. IOST is a special platform where developers can offer high-quality and useful services for the blockchain ecosystem. That is why the IOStoken project is trying to support the most popular programming languages.
The essence of decentralized applications is to distribute pieces of data between user computer nodes with the ability to swap them from the nearest nodes. This technique of scaling data is called Sharding. DApp clients are distributed, attack-resistant applications running on a blockchain-based network of P2P computers.
IOStoken is a potential scalable blockchain that has four main advantages:
A new principle of consensus-building: Proof of Believability, where the decisive parameters are the share of contributions, the number of IOS tokens, the activity of participants and their visibility. According to these indicators, the composition of the node for generating a new block is determined: the higher the user usefulness indicator for the project, the more probable its credibility.
Using innovative EDS (Efficient Distributed Sharding) technology significantly improves network scalability by dynamically splitting IOS into subspaces. This solution significantly reduces the workload and improves system performance.
While conducting transactions, the network uses multi-stage data updates. It ensures the most stable and error-free carrying out of cash transfers. The Atomic Commit algorithm maintains the system in a consistent state and does not allow system failures to occur. If the algorithmic changes were not completed, all operations are instantly canceled.
Organization of distributed computing systems (Micro State Blocks), which creates parallel processing of data on several computing nodes.
The first peak of the IOST price was tested literally in a couple of days after the launch. At the beginning of 2018, the IOS team announced an airdrop, which entailed a rise in the rate:
However, this did not last long. Literally February 6, the coin price change in a negative way. The price drop from $0.127 to $0.03. That was associated with the end of the airdrop. The team told about it on Twitter:
The price continued to fall until May 2018, when IOST was listed on Airswap:
Again the price fell very fast. In a month, the token price halved to $0.028. Autumn did not bring any happiness for IOST. The price kept on falling to $0.016 in September and $0.005 in November. The token price is still falling with a slight correction.
IOST Technical Analysis
Well, there is not actually any technical analysis expertise of IOST. However, here is the aggregate rating for IOST from several traders & analysts on TradingView.
IOST Community Reputation
The creators set the aim of creating a unique platform on which developers will have the opportunity to create and run applications that are in demand among users of the blockchain ecosystem.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.