While Ethereum continues to battle scalability and EOS is still coming under fire for its supposed lack of decentralization, IOST emerged in 2018 claiming it had the key to solving both, while maintaining security. IOST has now launched its main net. Our IOST interview with CEO and founder Jimmy Zhong has all the latest news following the launch.
Recap – What is IOST?
IOST stands for the Internet of Services token. The name reflects the vision of the project. It aims to overcome the trilemma that plagues other blockchains, namely scalability, security, and decentralization.
However, these are not the only challenges. Blockchain still suffers from barriers to adoption due to the fact many remain difficult to use for non-technical folk. IOST recognizes that ease of use is critical to achieving mainstream adoption. The project is technically complex under the hood, as our guide to IOST explains. However, the front-end is designed to be as user-friendly as possible.
IOST uses its own consensus method called “proof of…