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Is IOST a good long-term investment or just another hyped crypto? - Global Coin Report
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Is IOST a good long-term investment or just another hyped crypto?

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IOST
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IOST is the token supported by the Internet of Services (IOS) project. Much in the way that Ripple and Tron are, IOS includes a coin but it’s not only about the token, but about a full project that is trying to use the blockchain to change the world.

So if Ripple’s goal is to become the world’s means for real-time international transactions and Tron’s is to decentralize the web – what is IOS’?

It’s to develop a blockchain platform that allows for decentralized apps that will provide the network and infrastructure to create a service-oriented environment so that real-life services and goods can be transacted cheaply, safely and quickly. The thing these three projects have in common is that they aim to use the blockchain to affect everyday life everywhere, not just to provide a cryptocurrency to trade and to store wealth.

The fact that IOST has a clear purpose other than being a coin has turned it into one of the crypto market’s rising stars. But it’s had a very bumpy ride so far, at least regarding price performance.

In the beginning, it went up from 175 to 1100 satoshis and then it went back down to 200. Then there were the bullish weeks of April and early May which saw it recover to 800 satoshis. But this has everything to do with the market’s trend as a whole and very little with IOST itself.

IOST’s vital statistics are not that impressive. Cornmarket ranks it at 55th with a $223,152,720 capitalization which is a very far cry from digital assets as Bitcoin, Ethereum or even Ripple and Tron. However, IOST came live only this January, so when you take into account how young the project still is, its success is nothing short of remarkable.

The Internet of Services concept includes several other innovations. It doesn’t use the PoW or PoS algorithms to prove consensuses, which are the standards, but a new one called Proof of Believability which is developed and maintained in-house. The project also claims that their Efficient Distributed Sharding technology will improve scalability dramatically (which is the main criticism everybody has about Bitcoin and Ethereum).

This project and its coin are still running over the Ethereum blockchain and ERC-20 technology, but they have plans to launch a test net later this year that will allow them to become independent.

When Binance listed it, its price rose. Hubi and Zebpay are already trading IOST, and the rumor around is that Upbit will soon as well. But that hasn’t prevented something on a slump.

Unlike Ripple, Tron, Stellar or EOS, the IOS team has been rather silent recently. That seems to imply they’re just working hard to get the test net online and get ready as soon as humanly possible.

Among the few recent news related to IOST has been the Sequoia Capital announcement that they will be working closely with IOST in the research, development, and creation of useful decentralized apps. The project is called Theseus, and it aims to “to inspire and assist more developers, promoting the growth of the IOST blockchain developer community.”

Sequoia’s involvement with IOST points to the fact that IOST is looking for funds from financial institutions and venture capitalists instead of crowdfunding which is not going to make them very popular with the crypto crowd. Nevertheless, when a big institution chooses to invest in a blockchain project, especially one so young, you have to realize there must be something special about it.

The token got listed on HitBTC just recently and is about to secure another partnership too, this time with Gumi, one of the biggest game development companies in Japan (they wish to build dApp games using IOST blockchain).

Considering all the facts, it seems IOST will remain a not-that-good option if you’re in the market for a short-term and that things will stay slow. But the coin has shown great potential already and is on the steady-move in the market, so it’s worth watching in long-term. And of course, every time a new Main Net appears in the cryptosphere (remember the token aims to launch its very own Main Net this year) that changes dramatically. So we’ll have to wait and see.

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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 and read our full disclaimer.

Image courtesy of Pxhere.com

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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crypto trends
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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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