IOST (IOST)

IOST calls itself a "ultra-fast," fully functional, decentralised blockchain network and ecosystem with its own nodes, wallets, and "next-generation" consensus protocol called "proof-of-believability."

Jimmy Zhong, Terrence Wang, Justin Li, Ray Xiao, Sa Wang, and Kevin Tan started the project in January 2018.

IOST's blockchain infrastructure is open source and was made to be secure and scalable so that it can be the backbone of online services in the future.

The team has made a "proof-of-believability" consensus algorithm to make sure that transactions on the network are safe and fast.

One of the biggest problems that IOST wants to solve is that big companies might not be able to use blockchains in front of customers if they can't be scaled up. The Internet of Services Token is suggested as a way to deal with this issue.

The best way to understand IOST is to compare it to its closest competitors. Ethereum is the smart contract platform that developers use the most. It can also be compared to EOS and TRON, which are both smart contract platforms that are used a lot and can be scaled up easily.

The biggest difference between IOST and its competitors is that IOST says it can handle up to 100,000 transactions per second, while Ethereum, Tron, and EOS can only handle 20, 2,000, and 4,000 transactions per second, respectively.

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