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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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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