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

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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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