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Meet IOSToken (IOST) – The Rising Star of the Crypto World

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IOST

Ever since the big crypto-hype that started in 2017, a lot of new currencies have surfaced, serving as an excellent example of this trend’s potential to take over in the modern businesses. With over 1800 of them around these days, it is hard for a new coin to claw its way up and become noticeable as a quality coin that is different than others, and worth investing in.

Still, some of them do manage to do just that, and the latest example of one such coin is definitely IOSToken (IOST). So, the big question is – what makes this token so special? This is something that we will try to answer today.

What is there to know about IOSToken (IOST)?

The first thing worth mentioning is that IOST is very, very young cryptocurrency, with only a few months of existence behind it. In the time following its launch, the token has made its way up to top 50 coins, and it currently holds the rank of 48, according to CoinMarketCap, with its price being at $0.044106 at the time of writing.

Many contribute its sudden success to the coin’s focus regarding the services it provides. These are monetizing services, which respond to popular demands that are part of the so-called “Internet of Services”. Basically, the crypto will help those offering various online services to get paid for performing them. They aim to create a strong and stable ecosystem that will make everyone’s life a little easier, and help people improve their business practices.

IOST’s plans for MainNet

This is a decentralized coin based on the blockchain technology, but one interesting thing is that IOST still doesn’t have its own network. It currently operates as an ERC20 type of coin, which means that it was created and launched on Ethereum’s network. Still, it does not plan to stay that way, and the team behind it has been working hard on creating a MainNet for their coin. The TestNet has already been launched and is being tested all the time, however, the launch of a MainNet is still in a relatively far future.

Originally, the MainNet was planned for Q4 of 2019. However, the team quickly realized that this might be a death sentence for their coin, so they moved it closer and is currently scheduled for the final quarter of 2018.

IOSToken’s technology

One of the things that have definitely had a large impact on this coin’s success includes its technology. Most other cases have their smart contracts using Proof-of-Stake and Proof-of-Work protocols, but IOST decided to approach the issue differently.

Its method was to develop a protocol called Proof-of-Believability, which basically means that the protocol will work in a way of inspecting operating nodes, in order to check their behavior, as well as the general contribution of its users. The algorithms are set to be completely random so that the protocol would guarantee fair judgment.

Apart from this, the token is also using HUDS (Hyper Universe Distributed System). This means that its network will be capable of hosting various service providers at the same time. This will open it up to many different services, no matter how big or small their businesses currently are.

The coin has the support of large investors

One of the things that smaller investors really hate is when a coin doesn’t hold a public sale. Instead, it decides to open its sale only to institutional investors, which means that the big and powerful will have an unfair advantage. This is exactly what IOST did, which may be the biggest reason why more people are still not aware of it.

This is pretty contradictory to the entire point when it comes to cryptos and decentralization since they were meant to return the power to regular people, instead of allowing all the privileges to the privileged. However, this situation still allows one important conclusion, and that is that the large investors see something in this coin. With such a support, it is safe to say that this coin probably has quite a future.

Obviously, its successful future is something that won’t happen overnight, especially with competition like BTC, ETH, XRP, and alike. Even its MainNet has yet to receive an official date, and then be launched. The token migration will follow soon after, and then, and only then, can this coin start considering the next step in its development.

This will not, and it should not stop it from entering various partnerships so that it will already have a large community when the fun truly starts. One downside might be that the coins belonging to those who have already purchased them will be locked until the MainNet officially arrives. They won’t be available for this time, but they also won’t be taken away by anyone. Instead, they will simply be held in escrow, and hopefully, be unlocked by the end of this year.

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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.

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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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