In case you have heard that IOSToken (IOST) has gotten listed on Korea’s biggest exchange, you might be interested in finding more about ISOT especially in case you are planning on investing in Upbit’s newly added listing.
Upbit makes up for the largest exchange platform for cryptocurrencies in Korea, which by itself makes a massive market for crypto assets and blockchain technology, while Upbit also represents the fifth biggest exchange on a global scale. Thus, the significance of the listing lies in the most recent change in IOST trading volumes following after the official announcement.
As a consequence IOST is rising up by over 28% in a single day, gaining momentum in the market while drawing more interest of new investors. So, what is IOST and how likely you will end up investing in IOSToken?
What is IOSToken?
Once you get interested in investing in cryptocurrencies, after you have invested in the original coin or ETH, which is a common choice of any holder, trader or investor getting to know the market of blockchain technology and ICOs, you are more likely to check multiple options and “reward” your portfolio with a little variety.
In case Upbit’s newly added IOSToken (IOST) has interested you in finding out more about this asset, you should know that IOST stands for the Internet of Services Token, designed for the Internet of Services (IoS) Blockchain.
Its name pretty much describes its purpose, as IOST is made to provide and support a unique decentralized system where any device, gadget, computer or vehicle connected to the Internet of Things (IoT) can carry the responsibility of a node that powers up the IOST ecosystem, that way paving the path to the new era of Internet.
IOSToken was first issued as an ICO in January of the current year, which makes this newbie a real success in the market of digital assets, having been shown an astonishing pace of growth during a short period of time.
How Does IOSToken Work?
The internet as we know it wasn’t always a simple and functional commodity every home now has, it was far than that at the beginning of its existence; however it soon radically improved now being the center of business, socializing, education, and more, while representing the largest collection of information known to the human history.
All that information is traveling fast from one end of the World Wide Web to another in less than a second for most of the commands that we are utilizing every day.
What IOST is aiming to achieve is creating a new generation of the Internet, lead by blockchain technology and the power of ICOs, while wanting to make an even more revolutionizing era of technological improvements.
IOSToken is said to be able to provide around 100.000 transactions per single second, however, the coin is barely six months old, so we can for now only have a sneak peek at its potential to do so.
However, what is most certainly the case with IOST is that its network is highly scalable with a clear hierarchy of network functionalities, which would, of course, make 100.000 processed transactions per one second possible.
Regardless of what type of computers, storage utilities, devices, vehicles or gadgets are connected to the Internet of Things, IOST would be able to harvest the potential of these devices while using them as nodes to the IOSToken network.
The system works by hierarchy, so the network has functionalities like rule enforcers, maintainers, and service providers, which contributes to the overall functionality and scalability of the network.
IOSToken is also unique due to its protocol of choice. So, while the majority of its peers usually go for Proof-of-Stake or Proof-of-Work protocols, IOST is using Proof-of-Believability, which means that it gives an advantage to the nodes that are familiar to the system, prioritizing transactions and operations coming from trusted nodes.
It is said that IOST will be releasing a drafted document for IOST smart contracts during the third quarter, while in the future around the end of 2019, IOST is planning on integrating machine learning into their system, drawing a massive potential of the network.
Should I Invest in IOSToken?
IOSToken might be progressing fast, although it is still being traded far from one dollar price. However, the low price alongside with steady pace of growth in the last 30 days might mean a rather good investment.
What is interesting about IOSToken is the fact that despite the addition to Upbit’s list of trading coins and tokens, his token has shown some astonishing results in the market within the period of the last 30 days, growing over 50% in the course of the last 2 weeks.
It seems that judging by the latest trading volumes of IOST, this token is gaining on its popularity among holders and investors while growing steadily towards the dollar.
IOST is currently ranked as the top 50 coin with market cap of over 262 million dollars, while its significance and the growing interest in this token lies in its pioneering blockchain technology, which is probably what makes it a solid good investment for anyone tech-savvy, while it will most certainly provide fast transactions from one IOST wallet address to another.