IOS Foundation releases v5.0 of the Testnet, not far from launching the Mainnet

30 Jun, 2018
by Paula D. Baciu
IOS Foundation releases v5.0 of the Testnet, not far from launching the Mainnet

IOS Foundation has just launched the 5th version of their testnet - Everest, and plans to release the mainnet by the end of this year.

Although it came with a different name than planned on their Roadmap, the IOSToken public testnet arrived just about in time. This version utilizes a unique Proof of Believability consensus algorithm and features testnet tokens, a wallet, nodes (distributed worldwide), and a smart contract “playground” for local tests - along with many other features listed in an article on Medium.

The Proof of Believability (PoB) consensus algorithm “uses a node’s contribution and stake balance to gain block creation chances by becoming a validator. The algorithm factors in both transactions verified and token balance to determine the contribution to the network”, according to the same article. In other words, the algorithm will use factors like token balance and community contributions in order to assess the “believability” of its users and reward the ones with the highest believability score.

The next step for the IOS Foundation is to continue the testing phase and release at least two other versions of the IOST testnet before launching the mainnet. Meanwhile, the price of IOSTokens spiked up by 10% since the announcement and is currently priced at $0.0237. In a few words, IOST is a blockchain App platform that aims to lay the basis of a high TPS, scalable and secure infrastructure to be used by developers.

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Read more about: IOStoken (IOST)

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