A month ago, IOS Rising, one of the Reddit moderators of IOS Token (IOST), announced on the subreddit that the tokens will be airdropped to users who referred their friends to the IOS tokens. Each of the participant, the referee and friend, is to receive 68 IOST in their Ethereum wallets, preferably MyEtherWallet.
The one month old token, as at time of writing, continues to shake up the market and causing attention even in its young age. If you haven’t heard about the IOS token (IOST) , you will learn about its David-Goliath status that sets it atop in the scalability race with other ERC20 tokens.
“The IOST network has come up with various concepts of their blockchain, with Efficient Distributed Sharding (EDS) being the most innovative concept so far.”
The recent airdrop announcement by the development team on their Reddit page has caused a rush in obtaining the ERC20 token. IOS token network aims at disrupting the Ethereum blockchain by offering a scalable, secure and fast network than its predecessor.
The IOS Token offers a scalable, high transactions per second, and secure blockchain for online service providers. The decentralized network sees to solve the problems faced by the Ethereum blockchain. The platform aims at processing 100,000 transactions per second. This is as fast as Visa in transaction speed.
“The coin’s latest price of $0.035540, represents a 30% increase from its ICO price in January”
The IOST network has come up with various concepts of their blockchain, with Efficient Distributed Sharding (EDS) being the most innovative concept so far. This platform is to offer a solid solution to all online traders and merchants to the problem of slow transactions and non-scalability on other blockchains. The EDS technology increases the scalability of the blockchain by using dynamic partitioning of the IOS network. This allows dynamic addition or removal of processors, memory, and adapters to and from logical partitions.
Their goal is to offer a solid infrastructure for online service providers in all fields. Marketing their product as ultra-high speed (TPS, Transactions per second), scalable, secure, and with privacy protection. The system applies an unbiased random generation process, Bias Resistant Distributed Randomness (BRDR) to ensure total unbiasness on the IOS network that the IOS network is bias-resistant and completely random.
Ethereum vs IOS token (IOST)
The coin is taunting Ethereum’s power as the go-to platform for creating decentralized applications (dApps) and writing smart contracts. The coin was just recently launched in January through a private fund raising and not through the conventional ICO or public sale method. This shows the seriousness the development and management team is taking in the project not raising funds to scam people off their investments. This ensures the company will be very careful in developing the system, meeting milestones and shifting the concepts into adoption. The coin’s latest price of $0.035540, represents a 30% increase from this latest cryptocurrency bloodbath that saw the price of Bitcoin plunge below $7000 for the first time in 6 months.
However, the team’s full dependence on private funding may prove to be disastrous if they are not able to complete the project due to capital constraints. Right now though, the future of IOST looks bright and is very likely to be the next coin to break the bank in 2018. Check out the white paper here to see more technological improvements of the token to Ethereum’s blockchain.
IOS Token (IOST) on the charts
IOS Token has seen a rise of $0.01 since its recent public sale on January 19th where the coin was offered at $0.023. The token, still at its infancy was massively affected by the recent downward fluctuations in the cryptocurrency markets after hitting an all-time high price of $0.12. During a fortnight, the token lost 83% ($0.02) of its value but has since seen a remarkable rise in price to close at $0.037 as at time of press.
Currently, the total supply of IOS Token (IOST) is set at a maximum cap of 21 billion tokens and of these only 6,794,109,922 IOST are in circulation totaling the token’s market cap at $255,325,369 USD. The token now targets a possible $1 billion market capitalization by the end of Q3 which is very much possible. Let’s wait and see cryptofolks, in this volatile world of digital tokens and coins, only time will tell.