IOST
Crypto Overview
Project Overview
IOST (Internet of Services Token) is a blockchain platform launched in 2018 that aims to provide a scalable, secure, and decentralized infrastructure for online services and digital goods. The project utilizes a unique consensus mechanism called 'Proof-of-Believability' (PoB), which combines elements of reputation-based and stake-based systems.
Intended Utility
IOST's primary purpose is to serve as both a utility token and governance token within its ecosystem. The token is used for transaction fees, smart contract deployment, staking for network security, and voting on protocol changes. The platform targets decentralized application (dApp) developers and enterprises, offering high transaction throughput without sacrificing decentralization.
Actual Utility and Adoption
The platform has demonstrated genuine utility through its operational mainnet, with active dApp development and real-world applications. Notable partnerships include collaborations with various enterprises and government entities in Asia. The network processes significant daily transactions, primarily in DeFi applications and gaming.
Token Distribution and Governance
Initial token distribution allocated 35% to private sale, 40% to ecosystem development, 12.5% to team/advisors, and 12.5% to foundation reserves. Team tokens had a 2-year vesting period, which has already concluded. The current distribution shows a relatively decentralized ownership pattern with no single entity controlling a majority of tokens.
Development Activity
IOST maintains active development with regular GitHub commits and protocol updates. The team consistently delivers on roadmap milestones, focusing on technical improvements rather than marketing hype. The project has a transparent development process with regular community updates.
Crypto Impact
To assign a comfort level investing in IOST from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to IOST.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.