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IOS – A Futuristic Ecosystem for Online Service Providers

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IOS
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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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