#2024WithBinance IOST

What is iost?

IOST (iost) is a cryptocurrency that has gained a reputation for being extremely fast. It is an integrated currency and has a network of decentralized blockchains. IOST cryptocurrency has its own network and digital wallets.

When was IOST launched?

The project was launched in January 2018 by Jimmy Chung, Terence Wang, Justin Lee, Ray Xiao, Sa Wang, and Kevin Tan. Chung founded other tech startups in the United States and China. After his college days, he returned to Beijing and co-founded IOST, among other projects

IOST Coin Project

According to its developers, the IOST platform is highly scalable and uses its own consensus algorithm, Proof of Authenticity.

Decentralized applications can run on IOST at high speeds of several thousand transactions per second.

The sharding method, a method of dividing the database, is used for this purpose.

The goal of the developers behind IOST is to develop the leading platform for online services that meets the high requirements of security and scalability in a decentralized ecosystem.

The acronym IOST consists of

token

The platform is intended for service providers and blockchain developers looking for a fast and reliable infrastructure.

IOST is supposed to reach 100,000 transactions per second, thus being faster than the well-known blockchains of Bitcoin and Ethereum#