IOST- Internet of Service blockchain

IOST stands for "Internet of Services Token".It is an ultra-fast, scalable, and secure blockchain network based on the next-generation consensus algorithm "Proof of Believability (PoB).

Proof-of-Believability

It uses an intra-shared Believable first approach. Block production In PoB every node will be assigned a believability score based on the following factors:

Token balance

Contributions to the community

Positive reviews of the node

The network generates a block every 0.50 seconds and a committee of 17 nodes does block production. Every 10 minutes nodes will be changed to increase throughput.

Main features of Avalanche

Current TPS- 8000

Block time-<0.50 seconds

Number of validators- 17

Node rewards

There are four types of rewards: block-producing rewards, voting, mortgage, and pledge rewards.

Daily rewards include

Block producers reward (210M)

Election rewards (daily)

IOSTUSD prices surged more than 85% from Oct low of $0.00624.It hit a high of $0.011640 and is currently trading around $0.009865. The pair holds well above the short-term (21 and 55-day EMA) and long-term moving average (200-day EMA).

The near-term resistance is around $0.01350, any indicative breach above will take the pair to $0.0160/$0.020. On the lower side, immediate support is $0.0080, and any violation below targets $0.00650/0.0050.

Indicators (Daily chart)

CCI(50)- Bullish

Directional movement index - Bullish