IOST Price Chart Update [IOST]

IOST is an innovative and decentralized blockchain network and ecosystem that features its own nodes and wallets. It is built on a cutting-edge consensus protocol called "proof-of-believability," which enables fast and secure transactions.

What Distinguishes IOST from Other Blockchains?

IOST stands out from other blockchains due to its open-source and scalable blockchain infrastructure. This infrastructure is designed to provide a secure foundation for various online services in the future.

The unique consensus algorithm employed by IOST, known as "proof-of-believability," ensures that transactions on the network are both secure and efficient.

A key challenge that IOST aims to address is the scalability issue faced by large companies in adopting blockchain technology for customer-facing applications. The Internet of Services Token offers a solution to this challenge.

In order to fully understand IOST, it is helpful to compare it to its closest competitors: Ethereum, EOS, and TRON. Ethereum is widely recognized as the leading smart contract platform, while EOS and TRON are known for their scalability and high usage.

The main distinction between IOST and its competitors lies in its impressive transaction processing capability. IOST claims to be able to handle up to 100,000 transactions per second, whereas Ethereum can handle only 20, TRON can handle 2,000, and EOS can handle 4,000.

To achieve such high transaction speeds, the IOST team has developed an innovative blockchain architecture that combines multiple groundbreaking features. These features include the Distributed Randomness Protocol, Efficient Distributed Sharding, TransEpoch, Atomix, Proof-of-Believability, and Micro State Blocks.

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