If you've become aware recently of this little thing called ‘decentralization,' then you may have heard of the name ‘IOST' attached to it. IOST is among the hotter blockchains out there, with a cryptocurrency to help power a decentralized Internet-of-Services ecosystem built onto truly decentralized governance, high-throughput speeds, and great scalability.
Given how much potential for growth and mass adoption there is for services such as DeFi, and the wider deployment of dApps to power your daily needs, our IOST price prediction is forecasting a promising future.
The decentralization of all things has begun and is already rapidly growing into every aspect of our lives; through financial services, social media, blogging, gaming, marketplaces, and even gambling.
However, as we begin to see these grow ever larger along with an expanding userbase, we've barrelled towards the age-old enemy of blockchains; transaction speed, high gas fees, and scalability. IOST's blockchain solves all this and more, so read on along our IOST price prediction to determine why we've pinned such good hopes for this young project.
IOST Historical Price Analysis.
IOST's native cryptocurrency is the IOST token, an abbreviation of ‘Internet-of-Services Token.' IOST held a private sale on January 3rd, 2018, that was participated only by large institutional investors. It sold 40% of its total supply to those investors, having raised $35-million worth of ether (ETH) to continue funding the IOST blockchain's development.
According to historical trading data from Messari and CoinMarketCap, it began trading publicly around mid-January 2018. Almost immediately, it peaked at an all-time high of $0.136500 on January 24th, 2018. It later corrected back down again in March 2018 before rising upwards in May 2018. Since that second peak in May, however, IOST has been mostly trading range-bound, before then bottoming out to an all-time low of $0.001562 on March 13th, 2020.
Current Price, Market Cap, & Supply Details.
According to Messari's volatility index measurement for cryptocurrencies, IOST is comparatively more volatile than other tokens given its size and market-cap. As such, you should be cautious when entering into this market. At the time of writing (January 19th, 2021), IOST is valued at $0.019434, a 6.07% loss in 24-hour trading. By comparison, this would put IOST down 85.76% from its all-time high and up 1,144.17% from its all-time low.
CoinMarketCap's data shows that you would have marked a loss of 17.36% on your ROI had you participated in IOST's private token sale. IOST has a capped total supply of 22,306,434,689 IOST, with a circulating supply of 16,374,175,762 IOST. With a market capitalization value of $318,222,387, IOST is the 76th-largest cryptocurrency on the market. Interestingly, Messari's metrics show that 31.30% of its tokens in circulation (3,760,798,379.00 IOST) are being staked, with an average annualized staking yield of 12.65%.
IOST (IOST) Future Price Forecast Predictions.
IOST's offerings of a versatile and developer-friendly blockchain-as-a-service (BaaS) platform make it incredibly easy to build the future of a decentralized and powerful Internet-of-Services ecosystem. You can check out sites such as DappRadar or DappReview to find the full ecosystem of IOST.
Its blockchain can create new-age decentralized applications and platforms, along with the powering of smart contracts, with high throughput and highly scalable architecture that could support mass adoption and high growth without burdensome fees. As such, our IOST price prediction is fairly bullish on its prospects.
IOST Price Prediction 2021.
IOST has been trading on a firm footing in early-2021, despite the pullback in 24-hour trading. As such, the algorithmic models that we've aggregated forecasts that there will be more gains to be had within 2021, along with some healthy pullback along the way.
The latest news to come out of IOST at the time of writing this is its announcement as being among the first batch of public blockchains that will support the HUSD dollar-pegged stable coin. Should we continue to see the rise of stable coins as we have with Tether, this might catapult IOST even further.
IOST Price Prediction 2023.
One major unknown in determining the future of IOST is DeFi. 2020 and 2021 have seen an explosive influx of new cash and users into decentralized financial platforms and services, and we expect this will grow exponentially in the next few years. The major issue plaguing mass-consumer platforms is being bottlenecked by a slow, volatile, and restrictive network.
IOST's promise to solve all this would make it a tempting proposition for DeFi platforms. A continued push in this sector will be crucial to cementing IOST's foundations into the future of the financial system and a democratized economy.
IOST Price Prediction 2025.
Decentralization would've reached a wider adoption by 2025, and IOST has the potential of being among the pivotal blockchains that powers this transformation for all our civilized necessities such as access to banking or even powering our social media feeds.
Between the completion of other future roadmap updates such as cross-chain compatibility with non-IOST networks and further support for a diverse group of decentralized applications such as games, IOST's native cryptocurrency will likely break past its all-time highs by 2025.
Is IOST A Good Investment?
Our IOST price prediction has shown that it's an excellent investment opportunity, whether you're planning to use its native cryptocurrency to transact and exchange along the many decentralized platforms powered by IOST and its blockchain-as-a-service (BaaS) platform or keeping it for a long-term HODL.
Nonetheless, it will be prudent of you to be cautious when entering into a fairly young market such as IOST, as we've seen choppy trading as of late. IOST already has a long list of achievements and goals under its belt to prepare blockchain technology for wide mainstream adoption, without its concurrent flaws to nullify that experience.
Compared to competing blockchains such as Ethereum, NEO, EOS, or Cardano, IOST launched its original main-net with the ability to process 7,000-8,000 transactions-per-second (TPS). Theoretically, it's easily possible to scale IOST's permission-less network to process up to 100,000 TPS, with a block-time of just 0.5-seconds that could be further improved down the road and without incurring network participants the volatility of high gas fees.
As the network to offer the building block of a future where decentralized ecosystems are created en masse, IOST certainly has good promise.
They are also keen to take a more proactive approach in helping to build that future. IOST is developer-friendly by providing a fast and powerful virtual machine to aid in the development process. They also have ready-made SDK kits to easily create dApps powered by IOST, with the convenience of using mainstream coding languages.
IOST has launched two initiatives to better accelerate this growth. Theseus is a dedicated in-house dApp research and development team, while Bluehill is a $50-million accelerator program to help developers create more onto the platform.
How To Buy IOST?
Being the largest cryptocurrency exchange globally by volume, Binance is naturally a good place to start for buying in any variety of tokens. As such, IOST can easily be found here, as well as other marketplaces, such as OKEx, Upbit, Huobi, Bithumb, MXC, KuCoin, Bittrex, and many more. You could always use sites like CoinMarketCap, or CoinGecko to find a more comprehensive list of all the exchanges that offer pairings for IOST.
More Information About IOST.
IOST is the native cryptocurrency of the eponymous IOST blockchain. It can be used in a variety of ways within the decentralized ecosystem, such as being used for payments of goods and services exchanged on an IOST-powered marketplace, paying for fees or earning commissions for running smart contracts, processing transactions, or using shared resources such as storage space, payments as a reward for contributing computational resources to secure the IOST network, or exchanging for other third-party IOST-powered tokens.
IOST's blockchain, meanwhile, is a high-speed decentralized network with goals of becoming the foundations of a new digital economy built around decentralized platforms and services. It hosts 401747 accounts on its main-net at the time of writing, having powered over 552-million transactions, with more than 930 smart contracts and 474 nodes.
It runs on an innovative, breakthrough Proof-of-Believability (PoB) Byzantine consensus algorithm to govern the IOST blockchain. It is underpinned by a process of decentralized voting and committee formation procedures through a specially-designed point system called ‘Servi' to decide and rotate members of the governing committee.
The number of blocks produced by each member is proportional to the number of votes received, ensuring that block production remains truly decentralized, but with the advantages of dPoS networks that allow for high scalability and throughput speeds.
Other innovations include a ‘Micro State Block' mechanism to minimize the storage costs for node validators, ‘Efficient Distributed Sharding' (EDS) mechanism that makes shards adequately large for running more transactions at speed while also being strongly bias-resistant, ‘TransEpoch' that secures validators-to-shards assignments during epoch transition while maintaining network operability and ‘Atomix' as a two-step inter-shard protocol that ensures transaction atomicity.
Conclusively, as is evident with our IOST price prediction, IOST is a good project to look into if you're thinking of adding it to your investment pile, with a good upwards organic growth to follow. IOST's permission-less blockchain network brings not only high transaction speeds, high scalability, and low fees, but it ensures data immutability built on-top of a robust decentralized network.
It's also pursuing continued expansion of its use through proactive measures to help developers create a wider ecosystem of platforms to run on IOST and make headway into the ripe but as-of-yet unexplored territory Internet-of-Services, potentially the next big thing after IoT.
Its major threat is increased competition from other, more well-established and popular blockchains such as Ethereum, EOS, NEO, or Cardano. With every blockchain tackling the same issue of throughput, scalability, and network stability, it might bring increased pressure on IOST.
However, it's PoB algorithm is a one-of-a-kind USP within the blockchain space, with a governance structure that is wholly transparent and decentralized. This alone is enough to separate IOST from the crowd, and assuredly this will make DeFi platforms, and dAPP developers think twice before choosing which platform to build their future on.