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Reasons Why You Should HODL IOSToken This Year

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IOSToken
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IOSToken or IOST that began its journey just six months ago on January 15, 2018, has been performing well consistently in the market and doing proper justice to its investors. The coin was introduced during the tumultuous times when Bitcoin and other currencies depending on it were undergoing massive downfalls in their prices and market caps. Under those circumstances, the next generation blockchain solutions offered by this coin grabbed the attention of several traders across the globe and consequently it acquired a position among the major coins of crypto-market within a matter of few months.

Even in its ICO stage, IOST development team had been very communicative and transparent about their plans and future developments. Though they have not published any whitepaper with necessary information about the coin, they post development updates on a weekly basis making their investors conversant with the recent upgrades both in its technology and community. The IOST development team published another weekly update last week covering all events between 4th and 11th June of this year. Here, some of the most significant updates would be discussed below to accentuate the fact why the current IOST holders should hold onto this coin at least for this year.

Major Technical Upgrades:

  • Updates on Transaction System: The IOST team has been continuously working on several updates on their transaction system for the past few days. Among them, quite a few have been successfully completed in the previous week. For example, the payload resolution and the endorsement of the peers’ signature have been implemented. Also, the performance and function of the basic work unit have been considerably improved for the convenience of IOST holders. Besides conducting a thorough test on the entire transaction lifecycle, the IOST developers implemented a vast range of functions including endorsement assembly, response inspection, network peer execution and verification, transaction commitment, and many more on the blockchain ecosystem during the previous week.
  • Node Updates: In the recent times, a significant amount of work had been going on the end user functionality and data dissemination mechanism of IOST blockchain. Last week, all of those updates were implemented along with a few other developments including sequence broadcast, guaranteed delivery service, function execution, peer link, and Ledger’s event. Besides these developments, an identity security protocol was implemented last week to protect the users’ identity during signing, authenticating, and transferring certain attributes.
  • Developments on Ledger: The IOST ledger has undergone several changes last week. One of the major updates includes the implementation of the sorting service API. Also, the module that sends the ordered transaction generation block along with both key and base search functions of the query ledger has been put to use. Also the configuration blocks that access control lists or define various policies on the ledger have been successfully tested along with implementing the peer node appending function on the block. The other notable developments on the IOST ledger include transaction validity notification function, block completion verification and verification of the correctness of each transaction.

The Partnership with Theseus:

Theseus is a familiar name in the world of cryptocurrency because of developing the first decentralized game named Crypto Heroes. The game is currently on the alpha testing phase. The rules of the game are quite simple as a player can simply acquire some equipment by defeating other participants and increasing their level in combat. The release of the beta version of the game is imminent as well.

During the previous week, Theseus developed a portal IOST Community Hub which would be open to the community shortly. Once the portal is open, the investors would be able to win rewards in IOST as per their performance in the game. This new partnership is likely to be extremely lucrative for IOSToken with an increased circulation and popularity.

Notable Listings:

In the previous week, HitBTC listed this cryptocurrency on its platform for global trading. As per daily trading volume and market capitalization, HitBTC is the sixth largest cryptocurrency exchange in the world. Therefore, this new listing would increase the exposure of IOST to a great extent and more traders across the globe would be familiar with this coin eventually leading to augmentation in its market capitalization.

Community Updates:

Apart from the technical developments, IOST community has also grown considerably in the past few days as now they have three new members from Berlin, Germany have joined their team initiating their expansion over various European countries. Also, the IOST community has extended its reach in other parts of the world such as China, Southeast Asia, South Korea, and The United States.

The Current Situation of IOST:

As of 13th June 2018, IOST is running at a rate of 0.027 against the USD along with a market capitalization of $223 million. The coin currently holds the 54th position which is likely to be improved in the coming weeks with new developments.

Conclusion:

IOST has a team behind it that works constantly on its growth. Besides the technical upgrades to make the blockchain system even more convenient, IOST team is currently hiring new members for the expansion of their community. Adaptability is one of the principal traits that a cryptocurrency requires for sustenance. From the above points, it is quite evident that IOST possesses this quality. So, holding onto this cryptocurrency would not be a thoughtless decision 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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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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