What is IOST? | Beginner’s Guide

What is IOST? | Beginner’s Guide

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    Introduction

    IOST is a decentralized “Internet of Services” platform based on the blockchain that focuses on scalability and security.

    Dubbing itself as the “The Pinnacle of Throughput”, IOST promises an estimated 100,000 transactions per second. The IOS team is building an ultra-high TPS blockchain infrastructure to meet the security and scalability needs of a decentralized economy. The infrastructure favors online service providers with an easy interface to perform complex and secure transactions at scale because of a number of its cutting-edge technologies.

    IOST was launched in January 2018 by a team of proven founders and developers led by the quartet of Terence Wang, Jimmy Zhong, Kelvin Tan, and Ray Xiao. The token is built on top of the Ethereum network; however, unlike other erc20 tokens, IOST did not perform a public ICO but raised funds through private sales to institutional investors.

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