About IOST ($IOST)
IOST is an industrial-level decentralized blockchain network founded in 2016 by a group of experienced tech entrepreneurs and professionals. The network is designed to support enterprise-scale transaction volumes, such as those seen with Amazon, Google, or Facebook, and can process up to 100,000 transactions per second (TPS). IOST's blockchain employs sharding, a technique that enhances efficiency by processing transactions in smaller sub-chains within the main blockchain. The network leverages its unique Proof-of-Believability (PoB) consensus algorithm to optimize the efficiency of the IOST blockchain.
Initially built on the Ethereum blockchain as an ERC-20 token, IOST transitioned to using PoS for transaction validation following The Merge. IOST tokens serve various purposes within the decentralized ecosystem, including staking opportunities usually found on the IOST Swap site. Real-time IOST price updates are available on Binance.
Several recent developments have shaped the IOST landscape, such as the establishment of a $100 million fund by the IOST Foundation to attract Ethereum Virtual Machine (EVM) developers, a strategic alliance with the Label Foundation to build a long-lasting ecosystem for music IP non-fungible tokens (NFTs), and the selection of CMO Blake Jeong as co-CEO with a focus on user-friendly experiences and regional expansion.
Other notable milestones include an agreement between IOST and Amazon Web Services (AWS) to improve its web3, DeFi, NFT, and GameFi offerings by integrating with AWS' Web3 systems, a partnership between IOST Labs and Boosty Labs to promote blockchain developer growth and innovation, and a $10 million investment in IOST by BitValue Capital, demonstrating the firm's belief in the project's potential and growth.