IOST, the application-friendly, next-generation public blockchain infrastructure, today has launched its highly anticipated mainnet, with multiple decentralized applications (DApps) set to go live on March 10.
This is the first platform of its kind to launch together with a number of decentralized applications already built and ready for users to explore. The IOST mainnet will support a host of new DApps in the coming weeks, built by hundreds of enthusiasts from a global network of more than 150 partners, including Huobi, DDEX, iBank Digital Asset, and CoinGecko.
The milestone comes six months ahead of schedule and marks the introduction of one of the most accessible, community-friendly platforms to market, with games, wallets, decentralized exchanges, stablecoins, and other applications launching in tandem.
“The real value of a network is dependent on the applications that come with it, not just the technology behind it. Ultimately, mainstream users do not choose operating systems – they choose the applications which bring the most efficiency and enjoyment into their daily lives. Launching our mainnet alongside a number of DApps that are ready to engage with is a meaningful step for the IOST ecosystem, and our hope is that it will play a positive role in the widespread acceptance and adoption of blockchain technology.”
Jimmy Zhong, Chief Executive Officer of IOST
The IOST network is distinctive in that its Proof-of-Believability Consensus Mechanism (PoB) challenges centralization of nodes while ensuring high transaction speeds and network performance. While traditional Proof-of-Stake consensus algorithms leave control and compensation in the hands of a few nodes, PoB constantly rotates nodes and block production. At the same time, PoB ensures scalability, where hundreds, if not thousands of nodes can participate in transaction processing and validating transactions in the network each day.
In the lead up to the launch, IOST also announced its unique Global Partner Program, which aims to create a more accessible way for individuals, teams, and organizations of both technical and non-technical backgrounds to contribute and decide on the future of the IOST network, while being rewarded for their contribution to the ecosystem. This marked the first time that retail users were able to participate in the growth and security of a blockchain network in its early stages.
“Building the iStablecoin service on IOST has accelerated our ability to reach a wider base of users and introduce them to a lively, fast-growing ecosystem. Significantly, IOST is the first to launch a mainnet that immediately represents what the broader blockchain ecosystem looks like, complete with native and non-native applications, and existing users.”
Davis Gay, Co-founder of Rate3
IOST’s mainnet launch follows a string of recent ecosystem developments, including the completion of the IOST public testnet, which achieved processing speeds of more than 8,000 transactions per second (TPS); the establishment of the USD$50 million IOST ecosystem fund to support DApp projects; and the launch of the Global Partner Program, characterized by a unique node election process that encourages contributors at all levels of technical expertise to partake in building the IOST ecosystem.
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