What Is IOST (IOST)?
IOST (Internet of Services Token) is a blockchain platform designed to support the next generation of decentralized applications (dApps) with high scalability, security, and efficiency. Built as an open-source, secure, and scalable infrastructure, IOST aims to power future online services by addressing critical limitations faced by earlier blockchain networks. Its primary goal is to enable enterprises and developers to deploy blockchain-based solutions at scale—without compromising speed or reliability.
At the heart of IOST's innovation lies its unique consensus mechanism called Proof of Believability (PoB), which combines elements of reputation scoring and randomization to validate transactions efficiently. This allows the network to process up to 100,000 transactions per second (TPS)—a significant leap compared to Ethereum’s ~20 TPS, TRON’s ~2,000 TPS, or even EOS’s ~4,000 TPS.
By targeting enterprise-grade performance, IOST positions itself as a scalable alternative for businesses seeking reliable blockchain integration for digital services, cloud computing, and decentralized ecosystems.
👉 Discover how next-gen blockchain platforms are reshaping digital service infrastructure.
Who Founded IOST?
IOST was launched in January 2018 by a team of experienced technologists and entrepreneurs: Jimmy Zhong, Terrence Wang, Justin Li, Ray Xiao, Sa Wang, and Kevin Tan. Each founder brings a strong background in computer science, finance, and large-scale tech development.
- Jimmy Zhong, a serial entrepreneur, previously founded technology ventures in both the U.S. and China. Notably, he sold a peer-to-peer student notes marketplace during his college years for $40 million. After returning to Beijing, he co-founded Dora, an AI-driven smart kiosk hardware company, alongside Ray Xiao and Sa Wang—before launching IOST.
- Terrence Wang served as a software engineer at Uber and holds a master’s degree in computer science from Princeton University. He earned his undergraduate degree from the University of Minnesota.
- Justin Li worked in investment banking at Goldman Sachs and later became a data scientist at Mobike. He graduated with honors in applied mathematics and computer science.
- Kevin Tan, a computer science graduate from Tsinghua University—one of China’s most prestigious institutions—was also a co-founder of Ethercap. His academic and technical expertise contributed significantly to IOST’s core architecture.
- Ray Xiao and Sa Wang, both with academic training in computer science and quantitative economics, co-founded Dora AI and brought practical experience in deploying real-world hardware-software integrations.
This blend of technical depth, financial acumen, and entrepreneurial success has helped shape IOST into a robust platform focused on real-world adoption.
Why Is IOST Different?
IOST stands out in the crowded blockchain landscape due to its focus on scalability, security, and enterprise readiness. While many blockchains struggle with congestion and slow transaction speeds under heavy load, IOST was engineered from the ground up to handle high-volume operations typical of major tech platforms like Amazon, Google, or Facebook.
Core Innovations Behind IOST
To achieve its impressive performance metrics, the IOST team developed and integrated several next-generation technologies:
- Proof of Believability (PoB): A consensus algorithm that selects validators based on their reputation score ("believability"), token holdings, and contribution history. Unlike energy-intensive Proof of Work (PoW) systems, PoB is highly efficient and resistant to spam attacks.
- Distributed Randomness Protocol (DRP): Ensures fairness in validator selection by generating unpredictable randomness across nodes.
- Efficient Distributed Sharding (EDS): Splits the network into smaller segments (shards) that process transactions in parallel, dramatically increasing throughput.
- Micro State Blocks: Reduce storage overhead by only recording changes in account states rather than full transaction histories.
- TransEpoch & Atomix: Enhance cross-shard communication and atomicity across distributed systems.
Together, these components allow IOST to maintain high performance without sacrificing decentralization or security—a trifecta often referred to as the “blockchain trilemma.”
👉 Learn how scalable blockchain protocols are solving real-world performance challenges.
How Many IOST Tokens Are in Circulation?
The total supply of IOST is capped at 21 billion tokens, making it a deflationary asset over time due to controlled release mechanisms.
Here’s the initial token distribution breakdown:
- 40% was sold during the Initial Coin Offering (ICO) in January 2018, raising approximately $31.3 million worth of ETH.
- 35% is held by the IOST Foundation to support long-term development and ecosystem growth.
- 12.5% is allocated to community development initiatives, including grants, partnerships, and developer incentives.
- 10% is reserved for the core IOST team.
- The remaining 2.5% was distributed among early investors and advisors.
This structured allocation supports sustainable growth while minimizing market volatility caused by sudden large-scale sell-offs.
Is the IOST Network Secure?
Security is a top priority for IOST, especially given its enterprise-focused design. The network leverages Proof of Believability (PoB) combined with Efficient Distributed Sharding (EDS) to enhance both scalability and resilience against common attack vectors like double-spending or Sybil attacks.
In PoB, nodes are evaluated based on multiple factors:
- Token balance
- Service score (network contributions)
- Reputation history
- Randomness factor via DRP
Only highly "believable" nodes are selected to validate blocks, reducing the risk of malicious behavior. Additionally, EDS ensures that even if one shard is compromised, the rest of the network remains secure.
Because IOST is built for corporate adoption, it must meet stringent reliability standards. It's designed to manage heavy computational loads typical of large-scale digital platforms—making it suitable for use cases such as decentralized cloud storage, identity verification, gaming ecosystems, and enterprise dApp deployment.
Where Can You Buy IOST (IOST)?
IOST is available on several major cryptocurrency exchanges worldwide. Users can trade fiat-to-crypto pairs or exchange other digital assets like Bitcoin (BTC) or Ethereum (ETH) for IOST.
Popular platforms listing IOST include global exchanges with strong liquidity and security measures. When purchasing IOST, always ensure you're using reputable exchanges with two-factor authentication (2FA), cold storage practices, and transparent audit records.
For those interested in exploring trading opportunities:
👉 Access a secure platform to explore digital asset investments with advanced tools and real-time data.
Frequently Asked Questions (FAQ)
What is the main purpose of IOST?
IOST aims to provide a scalable, secure blockchain infrastructure for decentralized applications and enterprise-level services. It enables fast, low-cost transactions while maintaining decentralization through innovative consensus and sharding technologies.
How does Proof of Believability work?
Proof of Believability (PoB) selects validators based on their reputation ("believability"), token stake, and past contributions. This reduces energy consumption compared to Proof of Work and improves efficiency while maintaining security.
Can I stake IOST tokens?
Yes, users can participate in staking or delegation within the IOST network to earn rewards. By locking up tokens or supporting trustworthy nodes, participants contribute to network security and receive incentives in return.
What makes IOST faster than Ethereum?
IOST uses Efficient Distributed Sharding (EDS) and Micro State Blocks to process transactions in parallel across multiple shards. Combined with PoB consensus, this allows IOST to achieve up to 100,000 TPS—far exceeding Ethereum’s current capacity.
Is IOST suitable for enterprise use?
Absolutely. Designed with scalability and reliability in mind, IOST supports high-throughput applications ideal for businesses needing robust blockchain solutions—such as supply chain tracking, digital identity systems, or decentralized cloud services.
Does IOST have a mobile wallet?
Yes, there are official and third-party wallets supporting IOST tokens. These include mobile-friendly options that allow users to store, send, receive, and interact with dApps directly from their smartphones.
Keywords: IOST price, IOST token, blockchain scalability, Proof of Believability, decentralized applications, enterprise blockchain, cryptocurrency investment