IOST

Halal Rating :
Comfortable
Last Price $0.0049 Last updated:
Rank 365
1D Change -0.01 %
Market Cap $104.71m
Circulating supply 21,315,000,000
Maximum supply None

Crypto Overview

Categories
  • Hardware
  • IoT
  • Huobi Capital Portfolio

Overview

IOST is a blockchain platform that aims to provide a scalable, secure and decentralized infrastructure for online services. The project utilizes a unique consensus mechanism called 'Proof of Believability' which factors in contribution and behavior to the network when selecting network validators.

Purpose and Utility

IOST was designed as a platform for decentralized applications (dApps) with a focus on high transaction throughput. The IOST token serves multiple utilities within the ecosystem: paying for transaction fees, staking for network security, and governance participation. The platform supports smart contracts and allows developers to build various applications.

Business Model and Implementation

The platform primarily generates value through network usage fees and the creation of decentralized applications. The core business model revolves around providing blockchain infrastructure services, which is inherently halal as it involves the exchange of real value and utility.

Adoption and Usage

IOST has established partnerships with various organizations and continues to see development activity. The network hosts multiple dApps across different categories including DeFi, gaming, and utility applications. While trading remains a significant activity, the platform maintains its core utility as a smart contract platform.

Development Activity

The project maintains active development with regular updates to its protocol and tooling. The GitHub repository shows consistent commits, indicating ongoing technical development. The team regularly publishes technical updates and roadmap progress.

Token Distribution

Initial token distribution included allocations to team members and early investors with vesting periods. The current circulation shows a relatively decentralized distribution pattern, with no single entity holding a concerning concentration of tokens.

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