Cryptocurrencies in 2018 have become more usable as ICO’s launch every month. However, all has not been well for this group of assets in terms of regulations especially in jurisdictions with strict policies. This is why some cryptocurrencies are struggling to raise their targets in pre-sale ICO’s while their probability of survival is quite unattractive to investors. IOStoken (IOST) does not fall in the struggling category but rather in the top 50 altcoins in market cap as of press date. The coin’s success can be attributed to a couple of factors but mostly its idea “Internet of Services”. This platform provides the necessary infrastructure for service providers to launch decentralized applications on the network. For the blockchain platform to function effectively, the team created IOST which is the native token for this network.
The most recent development in this project is IOST launching on Zebpay from 1st June 2018. Traders will be able to deposit IOST tokens or withdraw from their Zebpay accounts. Additionally, trading of the IOST tokens with this account as part of the ecosystem is now possible. This milestone is significant for the IOStoken project since Zebpay’s accessibility is easier due to its app enabled nature as a crypto wallet provider. Just as the year began, Zebpay released its 2.0 version of their application which saw a couple of altcoins added while exchange features were enhanced.
Competitive Advantage of the IOStoken
The crypto arena has experienced issues in scalability and efficiency of blockchain networks like the pioneer, Bitcoin. IOStoken’s objective is to solve these issues and is believed to have better prospects since it neither uses the PoW or PoS protocols but the proof of believability. For the network to host a variety of service providers, the team included a Hyper Universe Distributed System (HUDS) in the infrastructure. IOST tokens have beaten the odds by gaining popularity even though a public pre-sale for this token was never held but instead institutional investors were given the chance. What have influenced most crypto enthusiasts to acquire stake in this project gradually is its long-term prospects and a friendly coin price which seems to be undervalued at the moment.
Time factor in development of the crypto projects has proven to be a major price mover. IOStoken team has been successful by using the ERC2-20 token standard hence the Ethereum network. However, crypto enthusiasts are curious when the project will launch its Mainnet which had been initially scheduled for Q3 in 2019. This has come as a challenge to the team due to the expectations of its crypto community which resulted to the launched being pushed to Q4 of 2018. It is expected that this move will largely affect the project’s fate in the near future as market correction & scam elimination within crypto happens.
IOST Price Analysis
IOST token is trading at $0.0462 against the dollar right now while 0.00000603 is its value against BTC. The coin has only been existent for 5 months but has managed a market cap of over $385 million as of press date. The coin’s maximum gain and drawdown in a day stand at 202% and -56% respectively. This is common in the volatile crypto markets whose volatility ranges over 40% in most months. IOST is quite promising having gained 17% in the past week although this value can translate to a very small price movement in real sense.