What Is IOST (IOST)?
IOST (Internet of Services Token) is a blockchain platform designed to support the next generation of online services through a scalable, secure, and decentralized infrastructure. Built with enterprise-grade performance in mind, IOST aims to bridge the gap between traditional web applications and decentralized technologies. Its core mission is to enable high-throughput, low-latency transactions—making it ideal for large-scale digital service platforms such as social media, e-commerce, and content sharing networks.
The IOST blockchain was launched in January 2018 by a team of experienced technologists and entrepreneurs including Jimmy Zhong, Terrence Wang, Justin Li, Ray Xiao, Sa Wang, and Kevin Tan. These founders brought together expertise from top tech companies and financial institutions, combining innovation in computer science, economics, and distributed systems.
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Founding Team Behind IOST
The leadership behind IOST combines deep technical knowledge with real-world business experience.
Jimmy Zhong, one of the key figures, previously founded multiple tech startups across the U.S. and China. Notably, he sold his first startup—a peer-to-peer marketplace for student class notes—for $40 million during his college years. His vision for IOST stems from a desire to build scalable infrastructure that can support mass adoption of blockchain technology.
Terrence Wang contributed strong engineering expertise, having worked as a software engineer at Uber. He holds a bachelor’s degree in computer science from the University of Minnesota and a master’s from Princeton University—giving him the academic foundation to design robust distributed systems.
Justin Li brings financial and data science insight from his time at Goldman Sachs and Mobike. With a background in applied mathematics and computer science, Li plays a crucial role in aligning IOST’s technical architecture with market needs.
Kevin Tan, another co-founder, previously co-founded Ethercap and graduated from Tsinghua University—one of China’s most prestigious institutions for computer science. His experience in blockchain investment and development adds strategic depth to the project.
Ray Xiao and Sa Wang were also involved in founding Dora, an AI company focused on smart kiosks. Their interdisciplinary research in computer science and econometrics helps shape IOST’s unique consensus and sharding mechanisms.
This diverse yet cohesive team has positioned IOST as a serious contender in the blockchain space, focusing on solving real-world scalability challenges.
What Makes IOST Unique?
At its core, IOST stands out due to its innovative approach to scalability, security, and decentralization—often referred to as the "blockchain trilemma." While many platforms struggle to balance all three, IOST integrates several cutting-edge technologies to achieve high performance without sacrificing trust or distribution.
Proof-of-Believability (PoB) Consensus
IOST uses a proprietary consensus algorithm called Proof-of-Believability (PoB). Unlike traditional Proof-of-Work or even Proof-of-Stake models, PoB selects validators based on their reputation and token holdings. Nodes with higher credibility—earned through consistent participation and honest behavior—are more likely to be chosen to validate transactions. This reduces energy consumption while maintaining network integrity.
Efficient Distributed Sharding (EDS)
To scale horizontally, IOST employs Efficient Distributed Sharding (EDS), which splits the network into smaller segments (shards) that process transactions in parallel. Each shard handles a subset of operations independently, significantly increasing throughput. The system dynamically balances load across shards, ensuring optimal performance even under heavy demand.
Additional Innovations
IOST also incorporates several other advanced protocols:
- Distributed Randomness Protocol (DRP): Ensures fair and unpredictable validator selection.
- TransEpoch: Enables smooth transitions between network epochs without downtime.
- Atomix: A cross-shard transaction protocol that guarantees atomicity across shards.
- Micro State Blocks: Reduce storage overhead by only recording state changes instead of full blocks.
Together, these technologies allow IOST to claim a transaction processing speed of up to 100,000 TPS (transactions per second)—far surpassing Ethereum’s ~20 TPS, TRON’s ~2,000 TPS, and EOS’s ~4,000 TPS.
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How Does IOST Compare to Competitors?
When compared to leading smart contract platforms like Ethereum, EOS, and TRON, IOST differentiates itself primarily through scalability and enterprise readiness.
While Ethereum remains the most widely adopted platform for decentralized applications (dApps), its congestion issues and high gas fees have created opportunities for alternatives. EOS and TRON improved upon scalability using delegated consensus models, but still face criticism over centralization risks.
IOST addresses both concerns by maintaining decentralization through its PoB mechanism while achieving superior throughput via sharding. Its design targets real-world business use cases where reliability, speed, and cost-efficiency are critical—such as content monetization, supply chain tracking, and digital identity management.
Tokenomics: Circulating Supply and Distribution
The total supply of IOST tokens is capped at 21 billion. The distribution was structured as follows:
- 40% sold during the Initial Coin Offering (ICO) in January 2018, raising approximately $31.3 million in ETH.
- 35% reserved by the IOST Foundation for long-term development and ecosystem growth.
- 12.5% allocated to community-building initiatives.
- 10% assigned to the founding team.
- 2.5% distributed among early investors and advisors.
This balanced allocation supports sustainable growth while incentivizing long-term commitment from stakeholders.
Network Security and Enterprise Use
Security is a top priority for IOST, especially given its target audience: large enterprises requiring reliable infrastructure. The combination of PoB and EDS not only enhances scalability but also strengthens resistance against common attacks such as double-spending and Sybil attacks.
By leveraging reputation-based validation and dynamic sharding, IOST minimizes attack surfaces while ensuring fast finality. Moreover, its open-source nature allows independent audits and continuous improvement by the global developer community.
Partnerships play a vital role in expanding IOST’s reach. By collaborating with technology firms and service providers, IOST aims to integrate blockchain into mainstream digital platforms—potentially serving giants like Amazon, Google, or Facebook-level workloads in the future.
Where Can You Buy IOST (IOST)?
IOST is available on major cryptocurrency exchanges worldwide. Users can trade IOST against stablecoins like USDT or major cryptocurrencies like BTC and ETH. Always ensure you're using reputable platforms with strong security measures when purchasing or storing digital assets.
Frequently Asked Questions (FAQ)
Q: What is the maximum supply of IOST tokens?
A: The total supply of IOST is capped at 21 billion tokens, with no plans for further issuance.
Q: How does IOST achieve 100,000 TPS?
A: Through a combination of Efficient Distributed Sharding (EDS), Micro State Blocks, and the Proof-of-Believability consensus mechanism, enabling parallel processing and reduced overhead.
Q: Is IOST more centralized than Ethereum?
A: While IOST uses a reputation-based consensus model, it maintains decentralization through distributed sharding and open validator participation. It strikes a balance between performance and decentralization.
Q: Can developers build dApps on IOST?
A: Yes, IOST supports smart contracts and offers developer tools, SDKs, and documentation to facilitate dApp creation.
Q: What industries benefit most from IOST’s technology?
A: Content platforms, social networks, e-commerce services, gaming, and enterprise SaaS applications benefit from high-speed, low-cost transactions.
Q: Is IOST suitable for long-term investment?
A: As with any crypto asset, investment decisions should be based on thorough research. IOST’s focus on scalability and real-world utility may appeal to investors seeking infrastructure-focused projects.
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