Question 1

What is the current price of IOST?

Accepted Answer

As of the latest data, the current price of IOST is XRP 0.00071095. In the last 24 hours, it has increased by +2.61%.

Question 2

What is IOST?

Accepted Answer

IOST is a highly advanced blockchain platform designed with scalability and security in mind, aiming to meet the requirements of today's decentralized economy. Everything from the proof-of-believability consensus algorithm to the dynamic sharding protocol known as Efficient Distributed Sharding is structured to ensure the highest level of security, speed and efficiency in transactions. This structure makes IOST an attractive option for running online services in a new, decentralized world.

Question 3

Who founded IOST?

Accepted Answer

IOST was co-founded by Terrace Wang, Kimmy Zhong, and Ray Xiao. All three founders have a strong background in technology and business, while the advisory board includes Ryan Bubiski, co-founder of CodeAcademy, who has years of experience in the tech industry and has been recognized as one of Time's Most Influential People.

Question 4

How does IOST work?

Accepted Answer

IOST operates through a unique consensus algorithm known as "Proof-of-Believability". This ensures next-gen transaction throughput speeds while keeping the nodes in the network compliant. It uses considerations such as the IOST token balance, reputation-based token balance, and user behaviors in its network. This is supplemented with microstate blocks, a Byzantine Fault Tolerance mechanism, and an Atomic Commit protocol, ensuring all transactions are consistent and lightning fast while also reducing storage and processing power for validators.

Question 5

What makes IOST unique?

Accepted Answer

IOST’s unique feature is its open, egalitarian approach. The platform allows anyone to participate in every layer of the system, from utilizing services on the blockchain to running a node and validating transactions. Its emphasis on decentralization and secure storage of information, combined with its provisions for Dapps and smart contracts, sets it apart from many other blockchain platforms. Fundamentally, IOST aims to disrupt traditional methods of doing business by eliminating the need for middlemen and creating a self-operated, trustless network that maximizes value for all users. This adherence to the core values of blockchain technology – openness, censorship-resistance, and trustless operation – gives IOST its unique value proposition.

Question 6

What is the total supply of IOST?

Accepted Answer

The total supply of IOST is 33.4B.

Question 7

What is the market cap of IOST?

Accepted Answer

As per the most recent data, the market cap of IOST is XRP 23.8M and it ranks at #622 in terms of the total market cap in the cryptocurrency space.

Question 8

Where can you buy IOST?

Accepted Answer

IOST can be purchased on the exchanges included in the BitMax, Bitkub, Coincheck, Binance, LBank list.

Question 9

How to keep your IOST safe?

Accepted Answer

Keeping your IOST safe might seem like a daunting task, but by adhering to basic security practices such as keeping your private keys offline, using hardware wallets, and not sharing sensitive information, you can significantly reduce the chances of losing your assets. Additionally, always ensure you're using reputable exchanges and wallets, and remember to keep your software up to date.

Question 10

How much IOST is in circulation?

Accepted Answer

The currently circulating supply of IOST is 33.4B.

Question 11

What's the daily trading volume of IOST?

Accepted Answer

The 24-hour trading volume of IOST is 5.1M.

Question 12

How can IOST's technology be upgraded?

Accepted Answer

The IOST team constantly works on improving the technology, and any changes to the system are implemented through a consensus process. This allows both the team and the community of users to have a say in the future development of the platform.

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