Internet of Services – WTF is That!? Why IOST May Disrupt the Services Industry

Episode Highlights:

  • 00:11 – Review Of A New Coin On The Exchange
  • 00:37 – Iost Coin
  • 01:26 – What Is Service Provider?
  • 02:18 – Iost Note:
  • 02:41 – What Iost Tokin Is Doing On The Exchange
  • 04:17 – Why Am Bullish On Iost
  • 05:22 – Ios Innovative Efficient Distributed Sharding
  • 06:03 – Ios Ground-Breaking Consensus Mechanism
  • 07:13 – Ios User-Friendly Ecosystem

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Transcription:

Hey guys what’s up? Its Dan again from cryptocamacho.com am bringing you another cryptocurrency update and recommendation.

00:11 Review Of A New Coin On The Exchange

Guys today I want to review a specific coin that’s recently hit the Binance exchange, it was recently listed I think literally just a couple hours ago. It was listing today, and it’s seeing some very, very good action and seeing a lot of volumes and seeing a lot of fluctuation up and down. I want to do the review of it because I like the coin. I like what they’re trying to do and I’m very curious what you guys think about it. The coin that I want to review today it’s called IOST.

00:37 – Iost Coin

So, iost.io is their website, and what it is basically what they’re touting is the next-generation secured a highly scalable ecosystem for services. IOS (the internet of services) as they’re calling it offers a solid infrastructure for all kinds of online service providers. It’s ultra-high TPS privacy protection scalable and secure Blockchain, provide infinitely many new possibilities for online service providers to serve their customer base. The reason I like this technology guys is because it’s again a platform and it’s not a specific technology or application built on any of the Bitcoin core Blockchain or Ethereum Blockchain or anything like that. Its own thing, it’s its own technology, its own platform, and it’s a platform aimed at the service industry, that service provider type of industry right.

01:26 – What Is Service Provider?

What’s a service provider? A service provider may be the AT$T of the world, the Comcast’s of the world, the folks that hook you up with the internet, or phone, or anything else right. These are all service providers. There are many different types of that, many different flavors of them in the technology space and this company IOST is aiming to disrupt that market by providing an infrastructure for those service companies to utilize their data, to store their data, to manage their data, to transact on their data, and offering incentives to do that through their cryptocurrency that they’re developing. They actually, didn’t even go to outside investors to raise money for their ICO they did it all internally, which is also another very good sign to me that they didn’t need to go the route of marketing and hype to actually promote their platform. They feel confident enough in their platform that they raise private capital to do so and they have a note right here.

02:18 – Iost Note:

Note our institution-only private token sale has been completed. No public sale will be held. Investors in China, USA, and Korea were not allowed. Check out the legal disclaimer for more details. So, even if they did have an ICO you wouldn’t been able to participate in if you were a US citizen, but you can certainly buy their token on the Binance exchange. I’m going to jump over here to Coinigy. I’m going to show you what their token is doing so far.

02:41 – What Iost Tokin Is Doing On The Exchange

So, this is literally the launch. The launch of their token was today. It was just a few hours ago today or maybe even like you know two hours ago or something like that today. It’s gone way up to 1350 and then it actually dropped all the way down to1043 now hovering somewhere around 1115. I think there’s going to be a lot of potentials especially if you get in early on this one and it’s already rising I actually just threw about $1500 into this token right now, maybe five minutes before I started recording this video. Went over to Binance and bought about $1,500 worth of token. I bought it down here, I bought it very, very much towards the bottom because I saw look at spiked way up because it just came out everybody was I wanted I want to get a piece of it. But then it very quickly plummeted, I don’t know why it plummeted, but it did plummet and it plummeted down pretty far right. Down by the 104 and now it’s already kind of making its way back up. What I did is I actually went to a coin market cap and I was just curious just sorting through that you know the most recent 24 our changes. I noticed that IOS token was at 243% right of an increase literally just when it launched, or went live. And so, I immediately jumped on that and I went over to Binance and made a purchase not a very big purchase, but you know about a thousand dollars because I think there is potential here and I think there’s momentum. It’s going up just recently listed the volume is going to increase pretty significantly same for particle I just did a review on the particle for you guys and it jumped 50 percent as well. I didn’t buy it; I wish I had bought it because it’s up 50 percent today. So, I think that’s pretty awesome. Another one steam is going up but I don’t want to talk about steam today.

04:17 – Why Am Bullish On Iost

Anyway, I do want to jump back now and just give you kind of a sense of why I’m bullish on this cryptocurrency. Would love you love to know your thoughts, but really it’s a new technology, it’s a new platform and I’m betting bigger on new platform type of technologies versus just coins that are leveraging existing Blockchain as well. Because I think there’s a lot of potential for them if they could crack into the right industries and get some momentum. There’s a lot of potentials for them to build on top of the platform right. They have many people coming to them to use their platform versus them just issuing a token and hoping there’s some utility in the token. They’re actually, offering an entire platform for people to use; a lot of companies are doing this right GE’s doing this, Microsoft is doing this, SAP’s doing this, Intel is doing this. They’re all building platforms around different things or rebuilding platforms for you know the Internet of Things. Adobe’s building a marketing cloud platform because they know the money is in platforms. It is not in you know specific point solutions; it’s on the platforms that enable point solutions all around. And IOS is doing this for the service industry right, for the service providers industry.

05:22 – Ios Innovative Efficient Distributed Sharding

So, let’s just read a little bit. Our innovative efficient distributed sharding technology largely improves the scalability of the network by dynamically partitioning partitioning the IOS network into subspaces via a secured, bias-free stochastic process. So, they’re disrupting the way the database scale is, the way that it’s organized with this EDS technology that they’ve developed right. They’re perfectly partitioning state allows for multiple groups handled in parallel. Fast grade commit protocol to enforce consistency among cross-shard transactions. Bias-Resistant Distributed Randomness An innovative, effective secure way to introduce unbiased randomness into the IOS network. So, there’s some security built in there as well and this is really what they’re touting.

06:03 – Ios Ground-Breaking Consensus Mechanism

Their ground-breaking consensus mechanism; we designed the Proof-of-Believability. So, it’s not proof of stake, it’s not proof of work, it’s bulletproof of believability mechanism to eliminate the need for an energy-hungry proof-of-work protocol. So, they’re trying to get around that proof of work protocol that takes a lot of Energy’s, what is you know which is what Bitcoin is doing. They’re trying to get around that. Okay and so, which stands as a barrier to Blockchain scaling up from a much wider use. And this is a big issue right now with Bitcoin scaling is there proof of work protocol requires a lot of energy very, very slow to confirm transactions things like that they’re trying to get around that. Believability of a node is calculated based on a contribution and behaviors; Meanwhile, fairness is ensured with the algorithmic randomness. So, they’re trying to put in some predictive AI type of technologies in here too where you get to a certain threshold in the network and the network then actually believes. Okay, there’s been enough action, enough proof for us to probabilistically you know assume that the transaction has happened, and that’s what speeds up it’s all done with probabilities and things like that right.

07:13 – Ios User-Friendly Ecosystem

So, this is the last piece I want to show it’s an IOS is a user-friendly ecosystem for your next big ideas. So, this is where ideas will be able to be built on top of…they’ll build on top of this infrastructure that they’re building out and this gives a very similar you know view of how the infrastructure works. Decentralized apps a smart contract similar to Ethereum and other cryptocurrencies out there; you know data storage services are the backbone of the mini ecosystem with HUDS, the IOS ecosystem provides a decentralized secured searchable efficient and economical way to store information. So, they’re going to allow data service providers to store their information and use this technology. This Blockchain to essentially, transact and work with their data over time over large-scale networks right, that are virtually anywhere in the world and that’s really it. They have an established team you know pretty seasoned veterans you can take a look at their you know their backgrounds a lot of mathematics degrees, philosophy degrees, you know things like that very, very you know technically savvy hi, hi…what’s word I’m looking for? High success minded people that are part of this team. You can go and look at them but they got a very, very good team built out already a lot of investors internally. They didn’t even need to raise public funds like I mentioned because they have all these private investors. So, anyway I’m bullish on IOST coin and I just bought some right now on Binance. Let’s look at the chart still hovering down at the bottom here. I’d like to see it go up, but it’s literally been about you know 20 minutes since I bought it.

So, I’m hopeful for the best and I’ll let you know how it turns out. I’m Dan from cryptocamacho.com hopefully this was useful? Let me know your thoughts on IOST, I’d love to know if you think it you know it’s going to go up, if it’s bullish, if you like the technology, we’d love to hear you have to say. Okay, guys, I’ll talk to you next time.

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This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.