IOS (Internet of Service) Token cryptocurrency (IOST) has held its price steady for a significant period. As of May 28th, US EST morning, IOST is trading at US $ 0.039621, representing a 2.94% rise. In terms of market cap, the coin is at the 50th spot.
IOS Token price analysis May 28th, 2018
The below graph tracks the recent 1-week trend of IOST price and market cap:
At the time of writing there has been a significant fall in the global cryptocurrency market, and Ether (ETH) fell by 14%. Bitcoin, Ripple, EOS and other major cryptocurrencies have also fallen to a significant extent. However, IOS Token holds its price steady, and over a longer term, it has gained the reputation of being a stable coin.
While there have been recent positive developments regarding IOST, like listing in the exchange KuCoin, the steady trend in its price accompanied by periodic rises can be attributed to the fundamental strength of the token.
In a business environment where services are offered in a centralized manner, IOST brings in a decentralized model of offering services that the market values. Major social media platforms or digital asset management platforms are currently entirely centralized. These are controlled by intermediaries, and IOST provides a decentralized model with their blockchain platform.
Service providers can set up their own distributed apps (DApps) using IOST platform and offer their services to customers worldwide on a decentralized and disintermediated platform, with smart contracts governing the relationships between contracting parties.
IOST doesn’t only focus on mass-market services but has a special focus on high-end services such as online advertising and cloud computing. The project team has a significant technical expertise and incorporates aggressive digital marketing including social media channels.
IOST promises to support 100,000 transactions per second (TPS), and if they can deliver on this promise then theirs will be one of most scalable and efficient blockchain platforms around. Though originally built on Ethereum, it will comfortably surpass that platform in terms of scalability and transaction throughput, and the project team is likely to have their own native token in the future.
IOST deploys an ‘Efficient Distributed Sharding’ (EDS) to achieve high scalability. It’s based on the sharding technology. Sharding is a concept widely used in databases, and it’s essentially storing different partitions of the database in different server instances. This improves database performance. In case of the blockchain, sharding means storing only a part of the data in some nodes, while storing other parts in other groups of nodes. Sharding allows the blockchain network to scale upwards seamlessly with the increasing size of the network.
IOST also employs a ‘proof of believability’ consensus algorithm. This system validates a node based on past contributions and behaviors. The platform also uses a ‘fairness’ algorithm to randomly distribute data to various nodes. This will significantly improve transaction throughput and eliminates the high energy cost of ‘proof of work’ (POW) algorithm used in major cryptocurrencies like Bitcoin and Ethereum.
IOST is a sound long-term investment choice, and the upward trajectory in their price confirms this analysis.