🔴IOST Cryptocurrency Project📉🚀
IOST’s blockchain infrastructure is open source and designed to be secure and scalable, all with the hope that it will serve as the backbone of online services in the future.
The team developed a consensus algorithm around “proof of authenticity” to ensure that transactions on the network are secure and efficient.
One of the biggest challenges that IOST aims to solve is that large companies may not be able to adopt blockchain in a customer-facing environment unless it is scalable. The Internet of Services token was introduced as a way to address this problem.
The best way to understand IOST is to compare it to its closest competitor, Ethereum: the most popular smart contract platform for developers. It can also be compared to EOS and TRON, which are highly scalable smart contract platforms with high usage.
The biggest difference between IOST and its competitors is the way it claims to be able to process up to 100,000 transactions per second compared to Ethereum’s 20, Tron’s 2,000, and EOS’s 4,000.
In order to achieve these transaction speeds, the IOST team created a new blockchain architecture, which introduces and combines several innovations including the Randomization Protocol, Efficient Distributed Sharding, TransEpoch, Atomix, Proof-of-Believability, and Micro State Blocks.