IOST IOST

IOST Use Cases

IOST is designed to provide a scalable and secure infrastructure for online service providers. Here are some of its key use cases:

• Online Payments: IOST aims to be an efficient way to provide and pay for online services. The IOST token can be used as a medium of exchange, offering fast and cost-effective transactions.
• Smart Contracts and dApps: IOST supports the development of decentralized applications (dApps) and smart contracts, allowing developers to create various blockchain services using languages like Solidity and JavaScript.
• Transaction Fees: IOST has a unique method of dealing with transaction costs by splitting fees into two separate utility tokens, iGAS and iRAM, which can be bought or generated by IOST holders.
• Proof-of-Believability (PoB) Consensus: IOST uses a form of consensus mechanism known as Proof-Of-Believability (PoB), which ensures high transaction speeds while maintaining compliance among nodes.
• Scalability: IOST can handle up to 100,000 transactions per second, making it a robust solution for industrial-scale transactions and a competitor to Ethereum and EOS.
• Blockchain-as-a-Service (BaaS): IOST offers a range of BaaS technologies, including authorization management, multi-cloud support, and cross-chain compatibility, fostering a conducive environment for innovation and privacy.

Pros of IOST

• Ultra-Fast Transactions: IOST is known for its high-speed transactions, making it suitable for business use.
• Stability: IOST is considered stable and less volatile compared to other cryptocurrencies.
• Scalability: The IOST platform is designed to handle a large number of transactions per second, making it highly scalable.
• Proof of Believability: IOST uses a unique consensus algorithm called Proof of Believability, which improves scalability and security.
• Investor Interest: Despite no public token pre-sale, institutional investors actively buy into IOST.

Cons of IOST

• Slow Growth Rate: The growth of IOST is relatively slow compared to other cryptocurrencies.
• High Competition: IOST faces significant competition from other innovative blockchain projects.
• No Backup Assets: IOST does not have any backup assets, which some may see as a disadvantage.
• Depreciation Risk: With a total supply of 21,000,000,000 IOST and more tokens being introduced, there is a risk of natural depreciation in price.
• Market Volatility: Like other cryptocurrencies, IOST is subject to market volatility, which can affect its price.

Founders of IOST

The founders of IOST include:

• Jimmy Zhong: A well-known entrepreneur with extensive experience in tech startups.
• Terrence Wang: A key figure in the development of the IOST project.
• Justin Li: A member of the founding team.
• Ray Xiao: Another co-founder contributing to the project's vision.
• Sa Wang: A part of the founding team.
• Kevin Tan: Also a co-founder of IOST.

IOST Investors

IOST has been backed by several world-class investors, though specific names are not detailed in the provided sources. However, it is known that the project has received significant funding:

• Private Round: IOST raised $35 million at a valuation of $87.5 million, with 100% of the tokens unlocked.
• Strategic Round: The strategic round also had 100% of the tokens unlocked, indicating strong support from strategic investors.
• Team and Community: The team and community allocations have structured vesting periods, ensuring long-term commitment to the project.

Key Funding Details

• Total Raise: $35 million
• Valuation: $87.5 million
• Token Distribution: Detailed vesting schedules for different groups, including the team, community, marketing, and advisors.

Halal Status of IOST

• Halal Status: Yes
• Reason: IOST is considered halal because it is a utility token with a clear purpose within its ecosystem, serving as both a transaction fee token and a governance token. It operates on a blockchain platform that provides a scalable, secure, and decentralized infrastructure for online services and digital goods. The project's focus on real-world applications, active development, and transparent governance aligns with Islamic finance principles that emphasize utility and ethical use.