Connect with us

Blogs

IOS – A Futuristic Ecosystem for Online Service Providers

Published

on

IOS

The Internet of Services (IOS) project has the lofty goal of disrupting the blockchain technology. It seeks to present the next generation ecosystem for online service providers. The IOS paradigm is an innovative blockchain system that aims to offer massive scalability as well as high transaction throughput.

The IOS project takes note of the crucial role that blockchain technology has played in resolving centralization issues that plague the current online service provision industry. But it points out the limitations that stand in its way, preventing it from reaching full potential and mass adoption. Current blockchain solutions are either too specialized and thus inflexible or limited in terms of transaction throughput.

The IOS system is built with the capability of supporting up to 100,000 transactions per second using an innovative sharding technology (Efficient Distributed Sharding – EDS) and a novel consensus algorithm (Proof-of-Believability). This is the kind of architecture required for heavy usage services in the level of Facebook, Amazon or even digital asset exchange platforms.

Support System for Online Service Providers

IOS has the vision of becoming the next generation blockchain system to fill this market void by offering the level of infrastructure required to facilitate an online service provision ecosystem. One of the features of the platform is that it has a complete decentralized network for trading digital goods and online services.

But the platform goes a step further to offer the opportunity for developers to create and deploy decentralized apps (DApps) within the system. Thanks to the IOS system’s novel design, these applications can support large numbers of users offering high transaction processing speeds and sufficient capacity for massive scaling.

IoT Devices as Nodes

On the IOS network, all Internet of Things (IoT) devices can function as nodes. These include all computing devices, vehicles with self-drive capabilities, drones or even storage devices. The concept works in the same way as the “first class citizen” in Java only but in this case, they are referred to as “first class nodes”.  Such nodes in this ecosystem provide the technical support functions for the network, enforcing rules, offering maintenance and providing necessary services.

Other devices that cannot qualify as first class nodes are able to carry out Simplified Payment Verification (SPV) using an IOS light client. Every node on this network has a distinct identification hash to allow for registration, discovery, and processing when applicable.

Secure Data Storage

The IOS system also has a technology referred to as the Hyper Universe Distributed System (HUDS). This allows it to host a wide array of service providers regardless of size and orientation. As a hosting system, it also offers to its users the provision of secure metadata or files storage across disparate nodes on the network.

The IOS blockchain design makes it one-of-a-kind when it comes to scalability and transaction speeds. The robust framework eliminates downtimes altogether and its unique consensus mechanism reduces the energy consumption associated with a majority of blockchain models. The project has the support of major investors including Sequoia, Metropolis VC, Zhenfund and Banyan Capital among others.

We will be updating our subscribers as soon as we know more. For the latest updates on IOST, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

Continue Reading

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

Published

on

Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

Continue Reading

Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

Published

on

Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

Continue Reading

Press Release