What is IOST cryptocurrency?
IOST stands for Internet of Services Token, which means building a blockchain-powered, scalable, secure and fast network on the Internet. Therefore, IOST is considered one of the recently emerged encrypted digital currency networks that support currency exchanges within decentralized electronic environments. The currency network also aims to process up to 100,000 transactions per second, in addition to expanding its spread in the near term, and marketing the currency network to reach the largest possible number of users around the world.
Uses of IOST cryptocurrency?
The digital currency (IOST) can be used in the following:
A medium of exchange for all transactions.
Pay transaction fees.
Use of currency tokens for digital payments, which are services and products offered on the Internet.
Commission fees, such as smart contract auditor fees.
Storing digital currencies, by using the cryptocurrency's own wallet.
What are the characteristics of the IOST cryptocurrency network?
The method of operation of the digital currency (IOST) is represented in the following points: [3]
The currency network operates on the blockchain platform, which is represented by nodes connected to each other, and each node represents a transaction that has been verified and added to the network. The network operates on a decentralized system, which means that there is no third party in any process that takes place on the network.
Processing approximately 100,000 transactions per second, thus speeding up the processing of transactions on the network.
The network is scalable, making it a good solution for large companies, making it a target for other competitors to currency networks that also operate on blockchain technology.
Combining different electronic techniques, such as TransEpoch, Atomix.
Use unique cryptographic tokens that can be traded on various crypto exchanges.
