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IOStoken (IOST): Newbie on the Block

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IOStoken
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In case you haven’t heard yet, there’s a new coin on the block, and that coin is called IOStoken, otherwise known as IOST. The token was launched on January 16th, 2018. Another thing that makes this coin interesting, besides the fact that there is a new blockchain coin available for trading and purchasing, is the volume of this digital coin.

Apparently, although this coin is only 9 days old at the time of this writing, it is already rocking the crypto market. Is there any particular reason for this unexpected progress and if there is, what is it? Also, you are probably wondering what exactly ISOT stands for and what the idea behind the creation of this cryptocurrency is.

What is IOStoken?

In case you were wondering, IOS stands for the Internet of Services. If you have heard of the Internet of Things, you know that this term represents a sizeable digital market where physical appliances are connected to digital values like apps, contracts, or data in any acceptable form.

There are coins that are promoting this digital market, making business and economy a lot easier by enabling secure and straightforward transactions, orders, processing, exchanging data and so on.

IOStoken is promoting the Internet of Services, which is the future form of the Internet of Things. We all know that the Internet of Things make a lot of sense because we are focused on spending our hard earned money on things. So, by making a digital platform that will host different types of products, the IoT is creating a functional market that is made to enable easy, cost-effective purchases, also making everything you need more available and on-the-fly.

But, what about services? Are services as essential as products (things)?

Of course, services hold the same amount of importance as things. If you think about it this way, when you purchase, for example, a computer, you have bought a product. But what happens when that product gets broken and needs to be fixed? In case that you are not able to do it yourself, you will need to hire someone to do that for you. So, that means that you are going to need someone to provide a service of fixing your computer. That is how the Internet of Things conditioned the idea of the Internet of Services coming into consideration, and with it, only a couple of days ago, came the new token: IOStoken.

The token is a part of the Ethereum decentralized platform, but it exists as a partially separate decentralized platform known as the Internet of Services. This cunning novelty is probably one of many reasons why IOStoken is getting in popularity so fast even though this coin doesn’t exist for more than nine days.

At the moment it was launched and first hosted on Binance, this digital coin became the first coin on Binance by trade and by volume. In case you are wondering how come you didn’t hear about this coin being sold at the time, it was only 0.02$ per one unit, the reason for that is that the selling of this coin was held in private. The parties enabled to purchase this coin was the institutional investors the team behind this coin gathered to organize the IOStoken sale. In case you are an investor from the United States, Korea or China, for the reasons not stated, you also weren’t able to access the sale and buy IOStoken.

The idea behind IOStoken is to create a digital ecosystem based on the Internet of Services that would be hosted on Ethereum blockchain within a decentralized platform that is meant to sell and promote the market of digital goods and services. That way, people would be enabled to use IOST for purchasing the services they need. The process of purchasing would be based on smart contracts available within the Ethereum, so by using a certain amount of tokens to fit the price, buyers within the community would be able to get access to certain services during the time given in the contract.

This is a humble beginning of an era where service would become more easily available and reachable through online and digital communities based on blockchain decentralized platforms. This is especially beneficial because the service fees would be lower within such ecosystems, and the services would be more accessible to purchase with only two parties involved and with a complete absence of any third parties.

To conclude, it seems that, based on the volume IOST had within the sale on Binance from the day one, along with the pace this coin has when it comes to price increases, IOST is without any doubt the fastest growing coin we had on the market by far.

The reason for that might be the exclusively organized sales that were focused only on institutional investors, as well as the involvement with a neat novelty: the Internet of Services.

That is how we got a very interesting coin that managed to grow from 0.02$ per one unit to 0.09$ in only nine days, which adds a very hopeful tone to the overall beginning of IOStoken. In case this token would continue to grow at this pace, it could quickly reach 0.50$ per one coin by mid-February.

We will be updating our subscribers as soon as we know more. For the latest 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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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