What is IOST?

This brief video outlines and overview of the IOST network and ecosystem.

IOST uses a “Proof-of-Believability” algorithm to enable high-speed transaction throughput while ensuring nodes stay compliant. Some of the factors monitored include IOST token balance, reputation-based token balance, network contributions and user behaviors.t

They boast of faster and higher-grade Byzantine Fault Tolerance mechanism, microstate blocks, Atomic Commit protocol and a dynamic sharding protocol (Efficient Distributed Sharding), which are intended to ensure transactions are safeguarded, consistent and fast while reducing storage, configuration costs and processing power for validators.

IOST states they are committed to a permissionless and transparent network that is open source and accessible for all.

Their website says “anyone is able to participate in every layer of our system, from using services on our blockchain to running a node and validating transactions. Our rules and code are open for all to see and no preconditions will limit participation.”