IOST is a decentralized, high-throughput blockchain that utilizes a unique Proof of Believability consensus algorithm to achieve 8,000 transactions per second with minimal fees. This technology addresses the limitations of existing blockchain networks by providing a scalable and efficient infrastructure for online services and decentralized applications.
Funding
$40M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BCFounders
Product
Problem
Existing blockchain networks often struggle with scalability and high transaction fees, hindering their usability for high-volume online services and decentralized applications. This limits the potential for widespread adoption and efficient operation of dApps.
Solution
IOST is a decentralized, high-throughput blockchain designed to provide a scalable and efficient infrastructure for online services. Utilizing a Proof of Believability (PoB) consensus algorithm, IOST aims to achieve high transaction speeds with minimal fees. This allows developers to build applications without concerns about speed or cost, and users can access resources through staking.
Target Audience
The primary target audience includes developers looking to build scalable decentralized applications, as well as users seeking a cost-effective and efficient blockchain platform for online services.
Features
- Proof of Believability (PoB) consensus mechanism for fast transaction processing
- High transaction throughput (8,000 TPS)
- Low transaction fees
- Support for JavaScript programming language
- Compatibility with IoT devices for applications in IoT payments and DEPIN scenarios
- Ongoing development of on-chain infrastructure for DeFi, NFT, GameFi, and Web3
- Simplified account registration process
- Integration with custom RPC