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What the Future Holds for IOST HODLers: The Latest Developments

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IOST

IOST or IOSToken began its journey amidst the market turmoil in January 2018. Since the beginning of this year, the crypto-world has been witnessing considerable ups and downs in the price and market capitalization of some extremely popular coins. Bitcoin, a name that stands out from this group of capricious currencies, is still recuperating from the gaping wound inflicted during the first quarter of this year. As the cryptocurrency market is immensely competitive by nature, one coin’s loss is always another coin’s gain. Therefore, the plummeting of Bitcoin’s price created a golden opportunity for a large number of coins that are beyond its purview. IOST (also known as the Internet of Service Token) certainly belongs to this group of cryptocurrencies.

Since its inception on January 15 of this year, IOST has been making inroads by toppling several big guns. One of the major reasons behind this phenomenon is the highly advantageous service that this coin offers. The sole purpose of this coin is to offer a highly scalable blockchain system with impeccable transaction speed which would make the internet more accessible to the traders across the globe. As the internet is the heart and soul of modern society, it didn’t take much time for IOST to grab the attention of potential investors. This coin is also very transparent as it releases weekly updates to keep its users conversant with the latest developments.

In this article, few of the major developments that took place in the previous week would be discussed to elucidate their combined effect on the future of this coin and its holders.

Major Technical Updates:

  • Transaction Updates: As the pièce de résistance of IOST features is its scalability and transaction, the development team always puts their utmost care in improving and maintaining this system. During the previous week, IOST transaction system has undergone several changes. Various functions like network peer verification & execution, transaction initialization, response inspection, transaction commitment, and response assembly have been successfully completed and tested. Also, the endorsement of payload resolution and peer signature visa has been initiated along with debugging the entire system.
  • Node Updates: The IOST team has been working on various aspects of IOST nodes for the last few weeks. Almost all of them came to fruition last week. The major completed node developments include implementation of data dissemination mechanism, end-user functionality, full sequence broadcast, peer link functions, implementing identity transfer protocol and delivery service, and many more.
  • Ledger Updates: The IOST ledger has undergone some major upgrades as well in the past few days. The development of several modules including the state modules, state transition modules, modules sending order transaction generation blocks, and sorting service APIs have been successfully completed during the previous week and have been put to use subsequently. Besides this, the configuration blocks of access control and other policies have been executed successfully. Also, the validation process of various transactions has been completed thereby increasing the level of security. Furthermore, a functional library has been implemented in order to test and verify the entire lifecycle of each transaction.

Notable Partnerships and Listings:

Apart from the technical developments, the past week has been pivotal for the IOST community and circulation as the currency gets engaged in partnerships with a couple of reputed cryptocurrency exchanges – Zebpay and KKCoin. Zebpay is one of the top crypto-exchanges in India and there is absolutely no question about the credibility of the other exchange from Singapore, KKCoin. Both of these listings are likely to expose IOST to more potential traders residing in these two Asian countries. Zebpay is the second Indian exchange that listed this currency. As India is rapidly becoming one of the leading nations in dealing cryptocurrencies, this partnership is likely to bring lucrative outcomes for this coin.

Other Notable Updates:

Huobi Pro, one of the most eminent names among cryptocurrency exchanges issued HB10 on the 1st of June, 2018. HB10 is mainly an index product that would determine 10 of the most promising digital currencies available in the market based on parameters like technological ingenuity, market capitalization, and trading volume. IOST has managed to be a part of this prestigious list which is likely to magnify its popularity among traders considerably. It currently holds the fourth position on that list right behind Ethereum Classic, Dash, and Litecoin.

As far as the IOST community is concerned, the incessant growth continues with IOST participating in major meet-ups in China, Japan, and other countries of Southeast Asia.

Current State of IOST:

As of this moment, IOSToken holds the 50th position on Coinmarketcap with a market cap of approximately 348 million USD and price equivalent to nearly $0.04. As per the price charts, its growth in the past few days is considerably higher than that of Bitcoin.

Final Thoughts:

Within less than six months, IOST has managed to climb a long list of 1600 coins and acquire the position it is currently in. If the recent upgrades increase its efficiency and functionality as per speculation, the holders of this token can expect a major upsurge in the coming days. So, at the moment, it wouldn’t be a fatuous decision to hold onto this coin.

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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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