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IOStoken (IOST): Newbie on the Block

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IOStoken

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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