The team claims this is one of the most accessible, community-friendly platforms to come to market, with games, wallets, decentralized exchanges, stablecoins, and other applications launching in tandem.
Jimmy Zhong, Chief Executive Officer of IOST said:
“The real value of a network is dependent on the applications that come with it, not just the technology behind it. Ultimately, mainstream users do not choose operating systems – they choose the applications which bring the most efficiency and enjoyment into their daily lives. 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.”
They claim that the IOST network is distinctive in that its Proof-of-Believability Consensus Mechanism (PoB) challenges centralization of nodes while ensuring high transaction speeds and network performance.
“While traditional Proof-of-Stake consensus algorithms leave control and compensation in the hands of a few nodes, PoB constantly rotates nodes and block production. At the same time, PoB ensures scalability, where hundreds, if not thousands of nodes can participate in transaction processing and validating transactions in the network each day.”
In the lead up to the launch, IOST also announced its unique Global Partner Program, which aims to create a more accessible way for individuals, teams and organisations of both technical and non-technical backgrounds to contribute and decide on the future of the IOST network, while being rewarded for their contribution to the ecosystem. This marked the first time that retail users were able to participate in the growth and security of a blockchain network in its early stages.
Davis Gay, Co-founder of Rate3 commented:
“Building the iStablecoin service on IOST has accelerated our ability to reach a wider base of users and introduce them to a lively, fast-growing ecosystem. Significantly, IOST is the first to launch a mainnet that immediately represents what the broader blockchain ecosystem looks like, complete with native and non-native applications, and existing users.”
IOST’s mainnet launch follows a string of recent ecosystem developments, including the completion of the IOST public testnet, which achieved processing speeds of more than 8,000 transactions per second (TPS); the establishment of the USD$50 million IOST ecosystem fund to support DApp projects; and the launch of the Global Partner Program, characterized by a unique node election process that encourages contributors at all levels of technical expertise to partake in building the IOST ecosystem.
IOST is an application-friendly, next-generation public blockchain infrastructure, helping decentralized app developers overcome some of the most challenging problems with mass adoption. IOST says they solve the scalability trilemma or having to select between levels of security, scalability, and decentralization. Through a “Proof-of-Believability” consensus mechanism, IOST enables DApps to build and deploy more meaningful services on its platform, helping more everyday users experience the mass benefits of blockchain services. IOST has a global presence, with offices in Beijing, Tokyo, Seoul, Berlin, San Francisco, New York and Singapore.
For more information, please visit: https://iost.io
Source : BlockchainNews