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| license =
| license =
| website = {{URL|http://www.iost.io}}
| website = {{URL|http://www.iost.io}}
| block_explorer =
| block_explorer = {{URL|https://ethplorer.io/address/0xfa1a856cfa3409cfa145fa4e20eb270df3eb21ab}}
| ledger_genesis =
| ledger_genesis =
| hash_function =
| hash_function =
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| block_time =
| block_time =
| block_reward =
| block_reward =
| circulating_supply = 11.03 billion({{as of|2018|1|10|lc=y}})
| circulating_supply = 11.03 billion ({{as of|2018|1|10|lc=y}})
| supply_limit = 21,000,000,000
| supply_limit = 21,000,000,000
| total_supply =
| total_supply =
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The '''Internet of Services''' is a technology platform that runs the IOST cryptocurrency, or IOST. The Internet of Services Foundation, led by former co-founder of Studypool and Dora Jimmy Zhong, developed IOST.
The '''Internet of Services''' (IOS) technology platform runs the IOStoken [[cryptocurrency]], or IOST.<ref>{{Cite news|url=https://hackernoon.com/a-primer-on-iostoken-iost-the-ethereum-eos-and-iota-competitor-aiming-to-give-machines-43b0a33df983|title=A Primer on IOSToken (IOST) — the Ethereum, EOS and IOTA competitor aiming to give machines…|date=2018-04-17|work=Hacker Noon|access-date=2018-05-05}}</ref> The Internet of Services Foundation, headquartered in Singapore and led by former co-founder of Studypool and Dora Jimmy Zhong, developed IOST.<ref>{{Cite news|url=https://www.forbes.com/sites/kimberlyfries/2018/01/31/how-millennials-can-stay-relevant-in-a-fast-changing-industry/#575e6af232ad|title=How Millennials Can Stay Relevant In A Fast Changing Industry|last=Fries|first=Kimberly|work=Forbes|access-date=2018-05-05|language=en}}</ref> The goal of the foundation is to build secured, scalable blockchain for online services.


=== Introduction ===
=== Introduction ===
[[Blockchain]] technologies have continuously evolved since [[Satoshi Nakamoto]] use it for the [[Bitcoin network]] in 2008. However, scalability remains an issue with blockchain technologies, precluding it from more widespread use. This was highlighted in December 2017, when demand for [[CryptoKitties|Cryptokitties]], a game that runs on the [[Ethereum]] blockchain, considerably slowed down the network.<ref>{{Cite news|url=http://www.bbc.com/news/technology-42237162|title=CryptoKitties cripple Ethereum blockchain|date=2017-12-05|work=BBC News|access-date=2018-05-05|language=en-GB}}</ref> More recently, [[Stellar (payment network)|Stellar]] has shown promise in accommodating large-scale transactions. It remains to be seen whether the Stellar network can handle large transaction volumes. <ref>{{Cite news|url=https://hackernoon.com/a-primer-on-iostoken-iost-the-ethereum-eos-and-iota-competitor-aiming-to-give-machines-43b0a33df983|title=A Primer on IOSToken (IOST) — the Ethereum, EOS and IOTA competitor aiming to give machines…|date=2018-04-17|work=Hacker Noon|access-date=2018-05-05}}</ref>
The Internet of Services Foundation is developing a next-generation [[blockchain]] technology that will provide the network infrastructure to support a service-oriented ecosystem. Aiming to replicate the success of the [[Internet of things|Internet of Things]] for physical devices in the services realm, it is leveraging existing blockchain technologies and improving on them. By doing so, it hopes to boost a thriving services market based on the blockchain.


=== The Internet of Services Platform ===
⚫
The IOS platform will provide its users a completely decentralized way to exchange online services and digital goods. It hopes to enable developers to deploy large-scale [[distributed applications]] (dApps) with the ability to support massive numbers of users. The Internet of Services Foundation has stated that their goal is to solve the scalability issues of current blockchain technology.
The Internet of Services Foundation is developing next-generation [[blockchain]] technology that will provide its network infrastructure the capability to host any number of online services and their users.


⚫
The IOS platform will provide its users a completely decentralized way to exchange online services and digital goods. It hopes to enable developers to deploy large-scale [[distributed applications]] with the ability to support massive numbers of users.<ref>{{Cite news|url=http://www.ibtimes.com/what-iostoken-iosts-price-rises-could-be-next-big-cryptocurrency-2645465|title=What Is IOStoken? IOST's Price Rises, Could Be Next Big Cryptocurrency|date=2018-01-25|work=International Business Times|access-date=2018-05-05}}</ref>
⚫
The Internet of Services Foundation is developing their currency around several innovative technologies: Proof-of-Believability (PoB), Efficient Distributed Sharding (EDS), Atomix, and Micro-State Blocks.


⚫
The Internet of Services Foundation is developing their currency around the following technologies: Proof-of-Believability (PoB), Efficient Distributed Sharding (EDS), Atomix, and Micro-State Blocks.<ref>{{Cite web|url=https://cryptoslate.com/introduction-iostoken-blockchain-internet-services/|title=An Introduction to IOStoken: A Blockchain for the Internet of Services|date=2018-02-05|website=CryptoSlate|language=en-US|access-date=2018-05-05}}</ref>
⚫
=== Proof of Believability ===


⚫
==== Proof of Believability (PoB) ====
This is a Byzantine consensus protocol with a believable-first approach that guarantees safety and liveness of the system while largely maximizing transaction [[Throughput computing|throughput]]. The protocol divides all validators into two groups, namely, a believable league and a normal league. Believable validators process transactions quickly in the first phase. Afterwards, normal validators sample and verify the transactions in the second phase to provide finality and ensure verifiability.


This is a consensus protocol built with [[Byzantine fault tolerance]] in mind and divided into two phases. In Phase 1, validators belonging to a believable league process transactions quickly. In Phase 2, normal validators sample and verify the transactions and provide finality and ensure verifiability. It is meant to guarantee transaction safety while maximizing transaction [[Throughput computing|throughput]].
⚫
=== Efficient Distributed Sharding ===


⚫
==== Efficient Distributed Sharding ====
⚫
This is a [[sharding]] format that makes shards sufficiently large and strongly bias-resistant via a combination of a [[Client–server model|client-server]] randomness scavenging mechanism, and leader election via cryptographic sortition. As the IOS network grows, it will be able to handle larger and larger throughput with the help of this technology.


⚫
This is a [[sharding]] format for large and strongly bias-resistant [[Shard (database architecture)|shards]], achieved through [[Client–server model|a client-server]] randomness scavenging mechanism and [[leader election]]. This ensures that the IOS network can handle increasingly larger transaction throughput.
⚫
=== Atomix ===


⚫
==== Atomix ====
⚫
An [[atomic commit]] protocol is used to commit transactions across shards. Atomix ensures that all transactions either commit or abort atomically even when they affect IOS blockchain states distributed across multiple shards. The application of a two-tier verification process minimizes the latency of micro-transactions, ensuring that IOS transactions are fast and safeguarded from potential [[security breaches]].


⚫
This [[atomic commit]] protocol is used to commit transactions across shards. Atomix ensures that all transactions either commit or abort atomically when they affect IOS blockchain states distributed across multiple shards. The application of a two-tier verification process minimizes the latency of micro-transactions, ensuring speedy throughput.
⚫
=== Micro State Blocks ===


⚫
==== Micro State Blocks ====
The IOS blockchain is designed to use classic distributed [[Application checkpointing|checkpointing]] principles to periodically produce consistent, collectively-signed state blocks. Micro state blocks minimize storage and update overhead, which helps new or crashed validators quickly catch up to the current blockchain state without downloading the entire blockchain starting from the first block. The micro state blocks summarize the shards’ states in an epoch and enable blockchain pruning to reduce storage and configuration costs for validators.


Most blockchains require validators to download the entire blockchain starting from the Genesis block. The IOS blockchain aims to be different by using classic distributed [[Application checkpointing|checkpointing]] principles to periodically produce consistent, collectively-signed micro state blocks that minimize storage and update overhead. Using these blocks, validators can enable blockchain pruning to reduce storage and configuration costs, and quickly catch up with the current blockchain state.
⚫
=== Storage ===


⚫
==== Storage ====
⚫
IOST is currently an [[ERC20|ERC-20]] token built on top of the Ethereum network. However, it is planning on shifting once it launches its mainnet. Currently, the best way to store IOST is on MyEtherWallet.

⚫
IOST is currently an [[ERC20|ERC-20]] token built on top of the Ethereum network. However, it is planning on shifting once it launches its mainnet.

=== References ===
<references />

=== External Links ===
[https://iost.io/ Official website]

Revision as of 15:42, 5 May 2018

Internet of Services Foundation
The Official IOS Logo
The Official IOS Logo
Denominations
CodeIOST
Nickname
Development
White paperInternet of Services: The Next-generation, Secure, Highly Scalable System for Online Services[1]
Code repositorygithub.com/iost-official
Development statusUnder development
Ledger
Circulating supply11.03 billion (as of 10 January 2018)
Supply limit21,000,000,000
Website
Websitewww.iost.io

The Internet of Services (IOS) technology platform runs the IOStoken cryptocurrency, or IOST.[2] The Internet of Services Foundation, headquartered in Singapore and led by former co-founder of Studypool and Dora Jimmy Zhong, developed IOST.[3] The goal of the foundation is to build secured, scalable blockchain for online services.

Introduction

Blockchain technologies have continuously evolved since Satoshi Nakamoto use it for the Bitcoin network in 2008. However, scalability remains an issue with blockchain technologies, precluding it from more widespread use. This was highlighted in December 2017, when demand for Cryptokitties, a game that runs on the Ethereum blockchain, considerably slowed down the network.[4] More recently, Stellar has shown promise in accommodating large-scale transactions. It remains to be seen whether the Stellar network can handle large transaction volumes. [5]

The Internet of Services Platform

The Internet of Services Foundation is developing next-generation blockchain technology that will provide its network infrastructure the capability to host any number of online services and their users.

The IOS platform will provide its users a completely decentralized way to exchange online services and digital goods. It hopes to enable developers to deploy large-scale distributed applications with the ability to support massive numbers of users.[6]

The Internet of Services Foundation is developing their currency around the following technologies: Proof-of-Believability (PoB), Efficient Distributed Sharding (EDS), Atomix, and Micro-State Blocks.[7]

Proof of Believability (PoB)

This is a consensus protocol built with Byzantine fault tolerance in mind and divided into two phases. In Phase 1, validators belonging to a believable league process transactions quickly. In Phase 2, normal validators sample and verify the transactions and provide finality and ensure verifiability. It is meant to guarantee transaction safety while maximizing transaction throughput.

Efficient Distributed Sharding

This is a sharding format for large and strongly bias-resistant shards, achieved through a client-server randomness scavenging mechanism and leader election. This ensures that the IOS network can handle increasingly larger transaction throughput.

Atomix

This atomic commit protocol is used to commit transactions across shards. Atomix ensures that all transactions either commit or abort atomically when they affect IOS blockchain states distributed across multiple shards. The application of a two-tier verification process minimizes the latency of micro-transactions, ensuring speedy throughput.

Micro State Blocks

Most blockchains require validators to download the entire blockchain starting from the Genesis block. The IOS blockchain aims to be different by using classic distributed checkpointing principles to periodically produce consistent, collectively-signed micro state blocks that minimize storage and update overhead. Using these blocks, validators can enable blockchain pruning to reduce storage and configuration costs, and quickly catch up with the current blockchain state.

Storage

IOST is currently an ERC-20 token built on top of the Ethereum network. However, it is planning on shifting once it launches its mainnet.

References

  1. ^ Cite error: The named reference paper was invoked but never defined (see the help page).
  2. ^ "A Primer on IOSToken (IOST) — the Ethereum, EOS and IOTA competitor aiming to give machines…". Hacker Noon. 2018-04-17. Retrieved 2018-05-05.
  3. ^ Fries, Kimberly. "How Millennials Can Stay Relevant In A Fast Changing Industry". Forbes. Retrieved 2018-05-05.
  4. ^ "CryptoKitties cripple Ethereum blockchain". BBC News. 2017-12-05. Retrieved 2018-05-05.
  5. ^ "A Primer on IOSToken (IOST) — the Ethereum, EOS and IOTA competitor aiming to give machines…". Hacker Noon. 2018-04-17. Retrieved 2018-05-05.
  6. ^ "What Is IOStoken? IOST's Price Rises, Could Be Next Big Cryptocurrency". International Business Times. 2018-01-25. Retrieved 2018-05-05.
  7. ^ "An Introduction to IOStoken: A Blockchain for the Internet of Services". CryptoSlate. 2018-02-05. Retrieved 2018-05-05.

Official website

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