IOST (IOST) Price Skyrockets Over 50% Within a Week

IOST (IOST) Price Skyrockets Over 50% Within a Week
  • IOST (IOST) price climbs over 50% within a week.
  • IOST has a fully fledged blockchain platform.
  • The IOST price surge might also be due to Japan’s MMA & Fighting Federation RIZIN.
  • In plans to launch NFT on the IOST blockchain.

Launched in June 2018, IOST (IOST) is one of the fastest-growing cryptos right now. In the past week, IOST surged by over 53%.

IOST was trading at around $0.04594 on August 26. The crypto almost doubles its price in just a week. As a result, IOST is one of the top mover among other cryptos. The IOST platform has performed incredibly well this year. Today, IOST sees another impressive rise.

IOST Current Market Status

IOST currently holds 109th place on CoinMarketCap. The IOST price is trading at $0.04458, with a 24-hour trading volume of $513,766,725, at the time of writing.  The price of IOST surged over 8% in a Day.

Currently, the IOST can be traded on top exchanges such as Binance, OKEx, Huobi Global, Upbit, and HitBTC. Now, let’s get into the reason for the IOST price climb.

Quick View On IOST

IOST has a fully fledged blockchain platform and ecosystem with unique nods wallets and consensus protocol. Moreover, IOST marks in speed and is committed to the ultra-fast blockchain enhancement through a combination of creative technologies such as proof of believability consensus protocol and efficient distributed shardings. Moreover, the iost blockchain was created by a group of alumni from some of the best known and most prestigious universities and businesses around the globe.

More so, behind the IOS2 platform is a blue hill which is a 50 million dollar startup incubator and accelerator. The platform is similar to Ethereum’s consensus blue hill which aims to support critical ecosystems. Even more, the project will help advance the IOST ecosystem. Notably, the IOST shares similarities to EOS and TRON. 

Both scalable smart contract platforms with high levels of utilization and opportunities for developers. IOST distinguishes itself by claiming that it can process up to 100,000 transactions per second compared to Ethereum’s 20, Tron’s 2000, EOS is 4,000 to reach transaction speeds that surpass its competition. Moreover, the IOST team has engineered a novel blockchain architecture that combines many different innovations such as distributed randomness protocol atomics transit puck efficient distributed sharding and microstate blocks modeled after the ERC20 standard on Ethereum.

The IOST platform’s eponymous token works on their blockchain as an IRC20 standard. The IOST foundation also enables individuals to release their own IRC20 tokens.

Reason for IOST Price Surge

The IOST price surge might also be due to Japan’s MMA & Fighting Federation RIZIN plans to launch NFT on the IOST blockchain. 

Moreover, Rizin Fighting Collection is a virtual trading platform that enables users to buy NFTs. In order to fight highlights, and best pics, and collect and trade them. All-in-all, the NFT service will be developed on the IOST blockchain. The Rizin Fighting Collection might go live by the end of 2021.

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.