IOST Price Prediction
IOS (Internet of services) is a cryptocurrency platform that supports smart contracts and decentralized applications. IOST is the platform’s cryptocurrency. The idea is not new. It was already in such projects as Syscoin, Steemit, EOS, but most of these platforms are highly specialized, have low bandwidth, or are burdened by other problems. IOST has the advantage of successfully attempting to solve these problems.
What is IOST Coin?
The creators of the project published a white paper of their brainchild on December 31, 2017. Trading was officially launched, according to coinmarketcap.com, on January 16, 2018.
They developed the project for more than a year, but the ICO did not make it in the classical sense. Money was invested exclusively by registered and accredited investors. The system issued 21 billion IOST tokens. According to the official technical documentation, they distribute as follows:
- 2.5% goes to advisors and investors who invested in the project in the early stages of platform formation;
- 10% becomes the property of the development team;
- 12.5% used for user attraction;
- 35% goes to the founders as a guarantor of the stability of the cryptocurrency network;
- 40% released to the market for trade.
The list of the largest investors includes large companies, including ZhenFund, INBlockchain, Sequoia, and Matrix Partners.
IOST has been called a next-generation ecosystem. Platform developers call its advantages and peculiarities the scalability, which comes with the Efficient Distributed Sharding and Fast grade commit.
IOST cryptocurrency had developed to optimize the security level of transactions in the network and its scalability. There are four qualities of blockchain:
Plausibility Proof is an algorithm that operates on the principle of trust. A node becomes “plausible” when the system checks the balance of coins, evaluates the “behavior of the account,” etc. The script can use the Byzantine error mechanism to select nodes that form blocks. It will speed up the work of choosing a node. This technology is called randomized consensus proof of consensus.
EDS increases system performance in parallel with the number of new participants. It reduces a load of transaction processing by validators.
Atomic Commit is a protocol used for transactions. They can be committed or aborted element by element.
Micro State Blocks they use to create checkpoints by focusing on checkpoints. Working micro blocks reduce the costs associated with storing and updating data and help nodes reach the current chain level quickly.
This approach eliminates the need to provide power-intensive proof-of-work protocols.
The main goal of IOST is to become a base where everyone can offer blockchain services. The platform has the following features:
- Iostoken complies with the ERC20 standard;
- There was no ICO to implement the project;
- Hyper Universe Distributed Structure (HUDS);
- There are 21 billion tokens in the system;
- IOST system can process up to one hundred thousand transactions per second, which gives it a significant advantage over other ERC20-platforms;
- Uses the original consensus mechanism – pob (plausibility proof);
- Uses a “fairness” algorithm that allocates data to nodes in a random order based on a rational assessment of each node’s state.
IOST Coin Review
The IOST platform and its token have good support from major investors. They were the ones who backed the project in January 2018 in a private coin sale process, proving that the platform could interest big investors and become a mainstream marketplace.
Among the main advantages of the platform are:
- Neutrality. All participants in the platform have equal opportunities;
- Transparency. Everyone can participate in the system without registration or any other method of identification or restriction;
- Immutability. Developers created a system where it is impossible to change any information, including data on transactions;
- Reliability. Blocks are processed without downtime, correctly specifying the assigned transactions. Transfers take place instantly;
- Security. Transactions are atomic. They can interrupt not only between blocks but also inside them;
- Scalability. As the number of network users grows, blockchain throughput increases in parallel;
- Minimal latency. IOST minimizes the latency when transactions are validated for the system to get through millions of transactions;
- Small storage. IOST reduces the amount of information taken up by transactions while generating summaries of the overall state of the network. As a result, the blockchain does not take up much space.
The platform has many advantages that many popular cryptocurrency systems do not, but this does not doom the project to success.
Like any system, IOST has disadvantages, but they are noticeably less than the advantages:
suspiciously, suspiciously, only individual investors participated in the startup’s ICO, and coin purchases were not available to the general public;
the platform is vulnerable to cyber-attacks, but this is a shortcoming of many cryptocurrency systems, and the developers are actively working to eliminate this problem.
So far, these are the main drawbacks that users have managed to find. A few more shortcomings may appear in the process of further work. The platform is young, so some of the “rough edges.” We can forgive it, especially since they are few. The main thing is that the project team is looking for ways to solve problems.
The all issue of tokens is 21 billion IOST. But only 8.4 billion are available on the market. That’s 40% of the ones the developers have put on the market for free circulation. Their sale takes place in three stages:
The purchase rate of 1 ETH= 200,000 IOStoken.
Purchase rate of 1 ETH= 150,000 IOStoken.
Purchase rate of 1 ETH= 100,000 IOStoken.
The rest of the coins had divided among the team members. They had closed to support the work of the network.
The cryptocurrency has not mined in the traditional sense of the word. But users who want to earn can become validators, receiving rewards for processing blocks. Validators, however, must pay a small deposit to be allowed into the process. If a node starts manipulating the blockchain for its interests, you will lose the deposit.
You can store IOSTokens on any wallet that supports Etherium. Both cryptocurrencies have developed using the same algorithm. But the developers themselves recommend using the official wallet – MyEtherWallet. You have to enter the name of tokens manually on it. The adding procedure is simple:
- Go to the official page of myetherwallet.com;
- Click on the key “add token”;
- Go to the menu, and click on “contract address”;
- Type in “iost,” specifying the fraction of the coin.
You can also hold the coins on any cryptocurrency exchanges mentioned above, but it’s not safe. The last option is to wait for the official wallet to come out.
Price History Analysis
On January 25, 2018, the IOST price was at its highest and was $0.137. Then there was a decrease to 0.004 by the end of the year. In 2019, there was a slight rise. The average price was $0.07. In 2020, the value of the currency fluctuated around $0.06.
On January 9, 2021, the rate began to rise, and the value rose to $0.022. In February and March, the price held near the $0.065-0.058; in April, it reached $0.09 per dollar. In May, the value fell to $0.028 per dollar. In June, the price still fell to $0.022.
IOST Price Prediction 2021
The IOST price forecast is quite optimistic about its prospects. By the end of the year, it will probably be $0.026.
IOST Price Prediction 2025
The IOST price prediction, based on the application of the least-squares method, suggests a coin price of $0.041.
Is IOST good investment?
IOST has a good team and a product roadmap. The team is working very hard on the advertising campaign and promotion of the coin. In the long run, this coin is a good investment.
Where to buy IOST?
- Excluding trading volumes, the cheapest cryptocurrency IOST you can buy on exchanges CoinDCX, Bitrue, Hotbit;
- Excluding trading volumes, the most expensive cryptocurrency IOST you can buy on the DragonEX exchange;
- Given the trading volumes and the average value of the cryptocurrency IOST, the cheapest you can buy on exchanges CoinDCX, Bitrue, Hotbit;
- Given the trading volumes and the average value of the cryptocurrency IOST, the most expensive you can buy on the exchange DragonEX.
For fiat money:
- Excluding trading volumes, the cheapest cryptocurrency IOST you can buy on exchanges Bitkub, OKEx, Huobi Global;
- Excluding trading volumes, the most expensive cryptocurrency IOST you can buy on the exchange WazirX;
- Given the trading volumes and the average value of the cryptocurrency IOST, the cheapest you can buy on exchanges Bitkub, OKEx, Huobi Global;
- Given the trading volumes and the average value of the cryptocurrency IOST, the most expensive you can buy on the exchange WazirX.