A Secure & Scalable Blockchain for Smart Services.The Internet of Services (IOS) offers a secure & scalable infrastructure for online service providers. Its high TPS, scalable and secure blockchain, and privacy protection provide infinite possibilities for online service providers to serve their customer base.
IOST is using a powerful consensus engine named Proof-of-Believability. Believability factors include IOS token balance, Servi balance, contributions, user behaviors and, it has a definitive range. We use a faster graded Byzantine Fault Tolerance mechanism, that allows for a set of nodes to decide on the next block. A key aspect of Proof-of-Believability is that these nodes are selected fairly by using algorithmic randomness based on input from previously generated blocks.
The Internet of Service Foundation, a Singapore incorporated non-for-profit organization, is currently developing the IOS blockchain and relevant technologies. The foundation is formed by a group of blockchain experts, distributed system scientists, world-class programmers and tech enthusiasts, aiming to make business-grade decentralized services possible on the blockchain (we only revealed part of our team members due to the respect for their privacy.
By design, accounts with more contribution to the network are more likely to be selected as the next validators and beeficiaries of the newly generated blocks. Unlike Proof-of-Stake, validators are selected using a certain algorithm, not just by chance and their number of tokens. Proof-of-Believability guarantees that nodes have negligible probability to misbehave, while significantly increasing the transaction throughout.
IOST has taken the cryptocurrency market by storm over the past week pushing its thanks to being the most-traded coin by volume on the commerce platform Binance, the International Business Times wrote.
Trading at simply $0.033 now once launched on January 16,2018, the new altcoin has since worked its high to $0.11 on the strength of its large backing and also the promise of the platform behind it.
The Hyper Universe Distributed System (HUDS) used by IOS allows it to serve as a platform for a wide variety of different services, from small-time businesses all the way to online trading behemoths like Amazon.