IOST is the token that is being supported by the IOS project. It is being done in the same way that Ripple and even Tron are. IOS has a coin but it’s not really about the token at all. It’s much more focused on being a full project and it is trying to utilise a blockchain around the world. The goal of this coin is to try and change how cryptocurrency is viewed and it is safe to say that it could be achieving it. So if it is Ripple’s goal to try and become the number one international transaction powerhouse, and if it is Tron’s own goal to try and decentralise the internet, what is IOS trying to do?
Their goal is to try and develop a platform that can be used for a ton of decentralised apps as this will help to provide a good network and even an infrastructure. This is going to create a service-oriented environment and this will essentially mean that real-life services and even goods can be transacted for much cheaper than ever before. Another thing that these services have in common is that they aim to try and use the blockchain efficiently and they also try and provide this to wealth everywhere. This is not just done with cryptocurrency to trade and it is also not done with stored wealth either.
Of course, when you look at IOST you will find that it has a very clear purpose and that is to not just be another coin. It doesn’t want to be one of the rising stars on the market, it wants to dominate the market, but it is safe to say that it has had a bumpy ride so far. This is especially the case when you look at its pricing performance. So to start out with, it went from 175 to 1100 Satoshis and shortly after it went back down to 200. After that, there were a few bullish weeks in April and May, and this then covered to 800 Satoshis. This has everything to do with the trend on the market and it doesn’t have a lot to do with IOST itself. IOST has a ton of vital statistics and not all of them are impressive. When you look at Coin Market, you will see that it is coming in at 55 so far and this is a long way away from Ethereum and even Bitcoin as well. This is especially the case when you compare it to Tron and Ripple as well. IOST however only really came onto the market in January and the success that it achieved is somewhat remarkable. The IOS concept has a couple of innovations. One of them is that it doesn’t use the PoW and even the PoS either. This isn’t done to improve consensus with the new standards but it is developed and even maintained in-house. The project also goes as far to claim that their sharing technology is going to try and improve scalability on a drastic scale and this is one of the main concerns that you get with both Ethereum and Ripple. The project and even the coins are still currently running on the ETH blockchain. When you look at the ERC-20 technology, you will see that this is still very much incorporated but they do have plans to try and launch a test net later on in the year. This will give them the chance to become independent. When Binance listed it, the price went up and this is especially the case when you look at Zebpay and even Hubi as well. The rumour is that Upbit will soon be playing a part in all of this but that hasn’t stopped the whole thing from being on a slump. So when you look at Ripple, EOS, Stellar and Tron, you will see that the team over at IOS have been remarkably quiet recently.
A lot of people believe that they are working hard to try and get their own test net online and that they are going to try and get ready as soon as they possibly can. When you look at the recent news that is all related to the IOST you will see that the Sequoia Capital have announced that they are going to be working with them and that they are also going to help the research and development as well. the creation of useful apps will really help them to rocket. This project is called Theseus and it is designed to both help people to research and develop their own creation of decentralised applications. Sequoias involvement with IOST really does point to the fact that IOST are looking for funds from a ton of financial institutions and that venture capitalists are not going to be popular with the cryptocurrency crowd.