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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

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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