High fees and slow transaction times on the Ethereum network have left the door open for the emergence of new solutions. IOST is a project that has garnered attention since the launch of its Mainnet in 2019. IOST is a decentralized blockchain network based on Proof of Believability, a next-generation consensus algorithm. Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund, it currently has 500,000 community members in over 20 countries, 400+ nodes, and top stakeholders. It currently has 500,000 community members in over 20 countries, over 400 nodes, top stakeholder economies, and symbiotic relationships with companies scattered around the world.
PoB (Proof of Believability)
Voting is an important self-governing mechanism in the IOST ecosystem. Partners that actively provide services and code to the IOST community and participate in governance get more votes from the community. Voting token holders can decide which candidate will become a node partner, select a preferred partner to maintain the IOST network, participate in community governance, and even determine the future development direction of the IOST ecosystem.
GAS and RAM are required as fees when staking, unstaking, and receiving staking rewards. GAS can be obtained by pledging IOST, and RAM must be purchased at IOST. GAS and RAM can also be sent and printed to other accounts.
Staking rewards are paid daily and Ecosystem Bonus rewards are paid quarterly.
Ecosystem bonus rewards are based on how Moonstake contributes to the IOST ecosystem as an IOST validator, therefore, MoonstakeWallet states that the combined APY for IOST is 2.5-9.63%. The APY for IOST is 2.5-9.63%.
It takes 3 days to apply for unstaking. Staking, trading, and withdrawing will be available after unstaking. Please note that once the de-staking process begins, rewards will stop being distributed.