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

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IOST

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

Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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