IOST & The Power of Blockchain

I will introduce IOST a company-level blockchain system made from the Internet of Services. This platform will focus on blockchain technology for mass adoption as an efficient distributed Sharding Service, node-to-shard protocol and consensus verification of the Proof of Believability marking technology separate from other blockchain platforms. By trying to solve one of the biggest problems with enterprise-level blockchain scalability. IOST aims to have Masschain as a Service that is ready to be mass marketed that can handle the high transaction volumes required by clients who need a solid high throughput platform that is secure and highly scalable. There is so much room for growth and potential in the IOST system with their innovative methods for scaling and transactions quickly. The IOS network accomplishes these two things using the 5 finger mega blockchain punch which allows their blockchain to do many things that still have to be implemented by others. With the increasing cost of mining that will make participation in the network a privilege for a handful of people, it brings straight back to the problem of centralization. With this it overcomes the problem of scaling and transaction speed and as the network grows and the number of transactions on the blockchain the greater the network is slowed. And this leaves you with each node doing the same thing and also saves a lot of data, which can easily become bankrupt over time.

Put simply, sharding refers to the concept of database architecture that explains how tables in a database are divided for better performance. There is also a big risk in providing information between various nodes. If we look at Ethereum, each network node holds a complete blockchain that does not happen with IOST. Because it uses a micro-state block, each shard holds only the previous block header which significantly reduces its size. Thus helping each node to process only a portion of the entire network instead of blocking it with a lot of data. IOST solves the Ethereum scalability problem a bit, fragmented techniques seem to compromise on security and stability. IOST targets a node system that is lightweight enough so that any smart device connected from a computer, to a drone, to an unmanned terminal can be a node to verify and act on transactions. In the FTFS system, users, services and contracts can receive feedback based on their actions and interactions with others. Having good feedback will affect their trust scores which ultimately lead to benefits in the blockchain and encourage users to act in the best interests of the community even when they are pseudo-anonymous. IOST aims to build a faster and fairer system through what they call Proof-of-Believability. Later this will act as a hybrid of the classic Proof-of-Stake model. Each node will have a reliable score based on the number of IOSTs in the node, the number of Servi tokens received, the number of positive reviews from the node, previous actions / transactions from the node, the IOST network will be randomly generated, and algorithmically select a number of validators for each block . Nodes with higher trust scores in the network are designally more likely to be chosen, but are never guaranteed.

IOST has an Atomix system which is a system designed to prevent the problem of double-spending attacks. To resolve this problem, IOST combines transaction steps as atomic units, even when spread across various processing entities. This ensures that the entire process can be successful, or completely fail as a full atomic unit, and no partial transactions occur. IOST will not use a concept called the Micro-State Block. Reflecting on One of the challenges faced by traditional blockchains is the storage of new 'blocks' of data every few seconds. This block is to record what happens on the blockchain within a few seconds, like any transaction. Even if nothing happens during that time, the block must still be removed. Over time this blockchain becomes bigger and bigger, but it still needs to be stored on the node to validate transactions. This becomes a significant problem over time.

Although IOST seems to be a concrete project as a whole, IOST is currently considered as another Ethereum competitor such as NEO or EOS. If the blockchain is not scalable, interoperable, stable, and secured according to a legacy system, then it may be completely demoted. Internal approval for purchases can also hamper progress halfway. IOST hopes to establish itself as a market. However, the market will only determine its direction. Whether he succeeded in fulfilling his promise remains to be seen. In trading IOST tokens, it can do it through several cryptocurrency exchange platforms such as Kucoin, Huobi, Ethfinex, OKEx, and Binance. Bitcoin BTC, USDT, and Ethereum ETH are the most commonly used trading pairs with IOST.

Website : https://iost.io/

Telegram : https://t.me/officialios

Twitter : https://twitter.com/IOStoken

Medium : https://medium.com/iost

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