What is IOST: Ultimate Guide for Beginners?

Recently we decided to start out a series of beginner guides where we dive deep to explain different crypto coins. So far, we published beginner-friendly guides on BZL coin, Verge coin & the upcoming Libra coin from the social media giant Facebook. And now is the time to find out more about IOST.

So, let’s begin, shall we?

What is IOST?

IOST - power of blockchain

IOST is a decentralized blockchain network based on Proof of Believability (PoB) algorithm and built on top of the Ethereum network. It’s a decentralized platform created for the providers of online services powered by smart contracts. In short, we can say that IOST stands for Internet of Service.

According to its website, the platform is capable to handle up to 100,000 transactions per second.

The company is based in Singapore but has global offices in Beijing, Tokyo, Seoul, Berlin, San Francisco, and New York. The team decided not to hold an ICO, instead, they held its funding rounds privately. Through those rounds, IOST managed to raise around $35.0MM.

Also, the platform has its own wallets, which are developed with the help of developers in the community. In the offer, you have PC wallets and several types of mobile wallets.

IOST token

You can buy IOST token on several crypto exchanges including Huobi, OKEx, and Binance. The total supply of the token is 21,000,000,000.

IOST airdrop distribution

The platform has done several big airdrop distributions. One of them was airdropping 100 IOST tokens to airdrop participants and 600 IOST for every referral. In order to be updated on the next airdrops, you can visit the IOST airdrop blog, where you can find more details.

Also, don’t forget to keep a vigilant eye on our website, since there we publish regularly on future airdrops, and guides how to join them.

Wrap-up

It’s worth to mention that IOST has impressive and experienced team members. Moreover, a number of them worked for companies such as Google, Deloitte, and Morgan Stanley. The platform raised a lot of hype in the crypto world, so we’ll have to keep an eye on the future development of the project.

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