Today’s a BIG day for IOST and I’ve got some BIG news for you. Are you guys excited? There’s one more blockchain network in the world. IOST, the Internet of Services Blockchain, has just announced the launch of their mainnet. I’ll also give you some insights about IOST’s price action so make sure you hang out till the end of the video.
So what is IOST? They describe their blockchain as an “application friendly” network, suitable for dApps and smart contracts. According to their announcement, they’ve already got 150 global partners, including Huobi and CoinGecko. The software has already achieved speeds of 8,000 transactions per second, putting it way ahead of Bitcoin and Ethereum. They’ve also put aside fifty million dollars for development projects like wallets and distributed exchanges.
Is that enough to attract users? IOST president Jimmy Zhong thinks so. In a statement, he said:
“Launching our mainnet alongside a number of DApps that are ready to engage with is a meaningful step for the IOST ecosystem, and our hope is that it will play a positive role in the widespread acceptance and adoption of blockchain technology.”
IOST uses a unique consensus algorithm called Proof-of-Believability. Unlike other blockchains, there’s no mining involved, and it’s less centralized than Proof of Stake. Instead, IOST’s consensus constantly rotates among different nodes, allowing hundreds of computers to participate in the network at any one time.
IOST/BTC Price Action Analysis
Now, how’s IOST’s price been performing? Well after reaching an all-time-high level on February 19th, IOST/BTC started to correct the gains towards a key pivot level shown here in orange. However, the launch of mainnet could create another spike towards last week’s highs or perhaps even higher. The pair has been enjoying a healthy uptrend on the daily chart, above the Ichimoku Cloud, so if the mainnet launch goes smoothly, the choppy corrections could provide a buying opportunity.
Now here’s a disclaimer, I personally own some IOST but you should only invest the money you can afford to lose in the crypto market. For more onrisk managementt, please visit investdiva.com.
I’d also like to hear from you. Are you freaking out about the IOST mainnet launch? Are you super excited or just like “meh”? Once you’ve subscribed, head over to the comment section and let me know what you think of IOST and the mainnet and if you’re planning to get some of the bullish momentum.