IOStoken Price Chart and Latest News
Published on Sep 21, 2019
The IOStoken (internet of service) blockchain is touted as “the secure, scalable blockchain that actually works.”
More specifically, IOS targets scalability and high transaction throughput as tangible measures for improving the blockchain.
IOS promises up to 100,000 transactions per second, which, if it can deliver in real-world performance, would place it far ahead of the leading blockchains including Bitcoin and Ethereum.
To improve speed and scalability, IOStoken uses a Proof of Believability consensus mechanism.
Market Value and Rank
The Proof-of-Believability mechanism eliminates the need for an energy-hungry proof-of-work protocol, which stands as a barrier to blockchain scaling up for widespread adoption.
With this system, a node is validated based on its past contributions and behaviors. Moreover, to increase fairness and to most fully embrace the decentralized nature of the blockchain, IOS uses a “fairness” algorithm that randomly distributes data to various nodes.
Bitcoin’s original verification model, proof of work, has come under scrutiny because of the incredible amounts of electricity required to mine a block and because of the ways that its inefficiencies can diminish the blockchain’s capability.
Therefore, some blockchains, including Ethereum, are developing new proof of stake consensus mechanisms that are less taxing and more capable.
However, IOStoken’s’ proof of believability model takes these modifications a step further in hopes of creating a more intelligent blockchain.
y using a Proof of Believability model, IOStoken is trying to improve the blockchain’s capabilities, so that it can adequately meet the surging demand for its services.
IOStoken also employs a few methods for scalability including:
Scaleout – Perfect partitioning state for multiple groups handled in parallel
Atomix – Fast grade commit protocol to enforce consistency among cross-shard transactions
BRDR – Known as “Bias Resistant Distributed Randomness” – an innovative, effective and secure way to introduce unbiased randomness into the IOS network