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Why Is IOSToken (IOST) Among One of The Most Hyped Young Cryptocurrencies?

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IOSToken
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The digital currency IOSToken (IOST) which revolves around the internet of services was created as a marketplace ecosystem where any online service provider can convert their services into money. It’s an ERC-20 token meaning it was launched on the famed Ethereum network. As it progresses, it seems though IOSToken would soon become its own native cryptocurrency soon. This coin addresses the two most controversial problems associated with all other cryptocurrencies:

  1. Efficiency
  2. Scalability

There was absolutely no hype surrounding the pre-sale and public sale of this coin and though it first attracted only institutional investors, most traders and investors are now flocking towards it claiming it to be one of the best buys for this year. We shall delve into the details, to understand what makes IOSToken so special that it outperformed several other crypto giants in terms of gains during Q1.

IOSToken Technology and Aims:

  • Technology:

The project does not follow the same path as other rival currencies, which are either Proof-of-Work or Proof-of-Stake for enabling smart contracts. IOSToken team introduces a different ‘Proof-of-Believability’ which is found to be more energy efficient and could help in the spread of blockchain technology. The believability of a node is circulated based on the contribution and behaviors while the fairness is taken care of by randomness of algorithms.

  • Aims:

The foundation of the Internet of Services is all about developing a scalable and energy-efficient Blockchain that could enable mass adoption. They are building a blockchain platform which functions as a decentralized version of Alibaba and BitTorrent.  In due course, IOSToken plans to implement several blockchain breakthroughs that will allow online service providers to serve their customer base effectively. The technical innovations such as ‘Hyper Universe Distributed Systems’, ‘Efficient Distributed Sharding’ and above all PoB (Proof-of-Believability) used by IOSTokens allow seamless online hosting of services. To diminish the challenges faced and shortcomings of Proof-of-Stake consensus mechanisms, the IOS have proposed the idea of ‘Servi’ tokens that measure a user’s contributions. Servi has the following features;

  1. Non-tradable
  2. Self-destructive
  3. Self-issued

GitHub and Private Testnet

On March 29th IOST announced their GitHub and Private Testnet to the community which would be open source on 9th April. Being open-source the team has gained several new developers and blockchain experts in addition to their pre-existing devoted developer’s team. IOST has bravely invested a large amount of their budget for this new and worthy addition to their tech team. By the time of announcing their upcoming official GitHub and progress towards Mainnet, IOST has successfully completed deployment of private Testnet. The PoB consensus protocol was declared to have achieved almost 8k TPS despite being under test environment. The launch of public testnet is set to be at the end of Q2 this year.

Partnership with Chaitin Technology

On 6th April, IOSToken announced reaching a partnership agreement with a renowned information security company, Chaitin Technology. IOSToken is the first blockchain project that has partnered with Chaitin Technology. Their collaboration means that Chaitin Technology has become a network security technical support for IOST and will also lead future security testing services by IOST. According to their official announcement, the lead technology R&D team of Chaitin Technology will extend support in safety & stability of IOST systems and advance in the field of distributed system security. IOST has made it clear that it’s taking definite steps to maintain blockchain security and enhance their smart contract auditing to protect it from node attacks with the help of Chaitin Technology.

Token Lockup until Mainnet

IOST released information regarding their on-going activities in a weekly progress report that was posted on 9th April as promised. What caught everyone off-guard was that the entire token reserve of IOS foundation is now in escrow. The IOS foundation publicly announced locking up all tokens which were reserved for the foundation until the date of Mainnet launch. Around 7.3 Billion IOST which surmounts to almost 35% of the total supply was locked in the public wallet which can be monitored anytime. However, IOS team still hasn’t proposed or discussed any sort of plan regarding these locked-up tokens which are to be used closer to the launch of Mainnet.

Exchange Listings

One of the top reasons why IOS tokens have made people’s head turn is because it has been recently placed on worlds most traded and well-known cryptocurrency exchanges such as Bitfinex and Binance. When Bitfinex added support for best ERC-20 tokens including IOST, the price point leaped to $0.036 per token and since then IOST held its place in the green zone for the past 7 days. The listing also holds importance because Bitfinex has added the very first US dollar currency pair with IOST. The coin was voted and won the listing on Binance way back in the Q1 on January 25th when IOS market saw an uphill that caused increased the price of one IOSToken to $0.13 at the time of its launch.

Conclusion

At the time of writing, IOSToken rests at 49th rank on CoinMarketCap with a market capitalization of $260 Million while $42 Million worth of IOST has exchanged hands within the past 24 hours. Among other ERC-20 tokens, IOST has carved its own different path and is set to focus on future stability and sustainability of blockchain technology. It’s not certain if IOS will take its own powers back from the institutions of repute also there is no certainty regarding the launch of DApp will be completed. No one is certain if the ordinary investors will get on-board with IOST, but one thing is definite that this cryptocurrency is going to move the market by the end of this year despite the volatile nature of the present crypto market.

We will be updating our subscribers as soon as we know more. For the latest on IOST, sign up below!

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.

Image courtesy of Rogelio A. Galaviz C. via Flickr

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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