PoB – IOST’s Consensus Algorithm: How to achieve decentralized consensus

Terrence Wang - CTOFrom the Team, TechLeave a Comment

pob

Every blockchain system is in itself a micro-society, an adaptive organizationcomprised of network nodes. The operation of this organization is regulated by a consensus mechanism. The consensus mechanism is a programmable benefit transfer rule that engages people, forms a secure network, and operates in andeterministic manner. In the IOST PoB consensus mechanism, the block production committee has 17 seats, which are changed every 10 … Read More

Decentralizing Technology, Society, and Thought

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John Naisbett’s 1982 book: Megatrends spent more than two years on The New York Times Best Seller List, selling 14 million copies. In it, Naisbett highlighted the ten most significant trends that define our contemporary technological era. The fifth trend he explored was introduced as a rapid transition from centralization to decentralization. Decentralization is a characteristic descriptive of power, control, … Read More

IOST: Building a Better Blockchain

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PoB

Recently, a lot of people have asked me, “What does IOST want to achieve?” It’s simple — the goal for the R&D team is to create a better blockchain application platform. We want to focus on fixing issues that exist in current blockchain technology and in doing so implement our own solutions that we consider necessary for a successful blockchain application platform. I want … Read More

Tackling the Scalability Trilemma

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Trilemma

The success of the IOST blockchain is an inseparable mixture of technological invention and community support. At the end of June we released the first version of the IOST test network, Everest 0.5. With the parameters of verifying the POB consensus mechanism, it has reached a peak of 8000 TPS in live environment testing, making Everest’s TPS 400 times faster … Read More

Fundamental Principles of IOST Development

Terrence Wang - CTOFrom the Team, NewsLeave a Comment

At IOST, we have been hard at work for the past year laying the foundation for an ultra-high TPS blockchain infrastructure capable of meeting the security and scalability needs of a decentralized economy. Our mission is to be the underlying architecture for the future of online service providers. On the eve of IOST’s testnet launch, we created an article to … Read More

Bringing Blockchain to the Masses

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In the past year, the blockchain industry has experienced its fair share of ups and downs. Beyond wild valuations and price swings, we have seen dramatic progress in the space — more than in any year since Satoshi Nakamoto mined Bitcoin’s genesis block back in 2009. Mainstream acceptance seems to draw ever closer, with popstars rapping about Bitcoin, government officials championing the … Read More