Since the beginning of development for IOST, we have believed that incredibly solid technology is required to build our next-generation secure & scalable blockchain for smart services, and also support a massive ecosystem where online service providers can build dApps that improve people’s day to day lives. That is why we have been striving since day one to build one of the best tech teams in the blockchain industry, and also why we consistently are looking to add the most talented engineers to our team.
Our team’s strength is a point of pride because it has led us to adopt several innovative strategies as we build the IOST blockchain. We want to share more with our community about the tech development process so that they can understand why we are confident IOST will be a gamechanger for the blockchain industry. Thus, in order to both increase transparency and also protect our core technology at this early stage, we will be releasing a portion of our code on our public GitHub today (4/8/18) and will be gradually releasing more code/repos on GitHub as we develop our mainnet.
Our GitHub can be found here: https://github.com/iost-official
The vision for the Internet of Services Foundation is to build a secure & scalable blockchain for smart services. The IOST blockchain is not merely a next-gen infrastructure, but also a vibrant ecosystem capable of hosting different kinds of services as well as innovative new business models that weren’t previously feasible. In this sense, developing a strong and vibrant community is among the most important aspects of building a successful blockchain infrastructure, one that we take extremely seriously.
From the first day we launched our ambitious project, we have been listening to our community carefully. During the process, we have heard concerns about our ongoing token distribution and fears about the possibility of the IOS Foundation selling IOST on a secondary market for short-term profit. We would like to reassure our community that we will never do this, our internal control procedures would under no circumstance allow this to happen, and to take this action would be extremely harmful for us. That being said, we understand that there are bad actors in the cryptocurrency space and therefore we have taken actions to eliminate this possibility.
In order to increase transparency and reassure our community, The Internet of Services Foundation will be placing its fund of 7.35 Billion IOST (35% of the total supply) in escrow until the launch of the IOST mainnet. Upon mainnet launch, a more detailed plan for this fund will be announced. We will be transferring this fund into a special purpose public wallet so that the community will be able to monitor it and observe that no withdrawals will occur until after the launch of the mainnet. The coin escrow will take effect later today at this address : 0xe6BC59e7DE4E4Dd2EfC1F2FE0065Df334E3F5b7D
Originally published on Medium.