IOST (IOST)

Payments and Transaction Fees

IOST tokens are used to pay for transaction fees on the network and as a payment method for online services. Users pay fees like iGas, iRam, and account creation fees, and dApp teams earn a share of these fees when users interact with their applications.

Consensus and Governance

IOST tokens play a role in the network’s unique Proof-of-Believability consensus mechanism. Token holders can vote for nodes, and tokens used for voting are locked for a period before being redeemed. Nodes and voters receive rewards from a token reward pool based on block production, votes, and ecosystem contributions.

Decentralized Applications (dApps)

Developers use IOST to build and run decentralized applications, including games, gambling, exchanges, and NFT platforms. The network supports high transaction speeds and scalability, making it suitable for mass adoption of dApps.

Real-World Asset Tokenization and Web3 Payments

IOST enables tokenization of real-world assets like bonds and real estate, turning them into tradable digital tokens. It also supports seamless cross-chain transactions and aims to create an open payment ecosystem for Web3 services.

Ecosystem Incentives

Participants in the IOST ecosystem earn rewards from network fees and token minting, encouraging active involvement in network maintenance, development, and governance.

Developer Tools and Infrastructure

IOST offers a secure and efficient smart contract environment with support for popular programming languages, helping developers create scalable and fast blockchain applications.

Pros of IOST

• Uses a unique Proof-of-Believability (PoB) consensus protocol that combines Delegated Proof-of-Stake with a reputation system, enabling fast and efficient transactions.
• High scalability with the ability to process up to 8,000 to 20,000 transactions per second.
• Stable network with zero downtime since its mainnet launch in 2019.
• Designed for enterprise use, capable of handling heavy loads from big tech companies.
• Supports tokenization of real-world assets and integration with multiple blockchain networks.
• Offers developer-friendly environment with support for smart contracts using V8 JavaScript.
• Provides secure and verifiable identity authentication and compliance with global regulations.
• Has partnerships with major investors and blockchain companies, contributing to steady development.
• Enables feeless or low-fee transactions and efficient secondary market trading.
• Supports staking and decentralized governance through node validation and reputation.

Cons of IOST

• Growth and trending rate are moderate compared to some other cryptocurrencies.
• Price has experienced bearish trends and market corrections, reflecting volatility.
• Some advanced features like Efficient Distributed Sharding and TransEpoch are still under testing.
• Currently, the token is transitioning from ERC-20 to its native blockchain, which may require token conversion.
• Less popular or less widely known compared to top cryptocurrencies, which may affect liquidity and adoption speed.

Founders of IOST

The founders of IOST are Ray Xiao, Jimmy Zhong, Terrence Wang, Sa Wang, Justin Li, Kevin Tan, and Yannan Wang. Ray Xiao is noted as a key founder and has experience founding multiple startups. Jimmy Zhong is a repeat founder with prior successes in tech companies. Sa Wang serves as Co-Founder and CMO, while Yannan Wang is Co-Founder and CTO. Terrence Wang and Justin Li are also among the founding team, with Kevin Tan contributing as a co-founder.

Major Investors in IOST

IOST has attracted funding from a variety of world-class investors and institutional backers. Some of the key investors include:

• DWF Labs: A leading institutional investor involved in multiple strategic funding rounds.
• Presto Pay: Participated in strategic investments to support IOST's growth.
• Rollman Management Group: Another institutional investor backing IOST’s development.
• BitValue Capital: Early investor supporting the blockchain infrastructure.
• HTX Ventures: Part of the investor group contributing to IOST’s funding.
• Sequoia Capital: A well-known global venture capital firm investing in IOST.
• Matrix Partners: A major investor providing significant funding.
• Hillhouse Capital Management: Among the investors supporting IOST’s ecosystem.
• ZhenFund: Contributed to IOST’s funding rounds.
• Metropolis VC: Also part of the investor group.

Funding Highlights

• IOST has raised approximately $61 million in total funding.
• A notable $21 million strategic funding round was led by DWF Labs, Presto, and Rollman Management Group to expand tokenized asset infrastructure in regulated markets.
• The project is backed by a team of proven founders and supported by investors who believe in its scalable and secure blockchain infrastructure.

These investors help IOST build its ultra-high TPS blockchain platform and expand its presence in regulated markets, especially in Asia-Pacific regions like Japan.

Halal Status of IOST

IOST is considered halal. It is a blockchain platform providing infrastructure services, which is inherently halal because it offers real value and utility. The Crypto Halal Office and other Islamic finance sources have screened IOST and found it compliant with Shariah principles. It is not backed by equity or debt, and its ecosystem activities do not violate Islamic law.

Reasoning

• IOST’s business model is based on blockchain infrastructure, which is halal.
• It can be staked, traded, and used within its ecosystem without involving prohibited activities.
• Its Shariah compliance screening is similar to Ethereum and Solana, which are also considered halal.
• There is no involvement in interest (riba), gambling (maysir), or other haram activities.

In summary, IOST is halal because it aligns with Islamic finance principles and has been reviewed positively by Shariah auditors.