IOST didn’t exactly light up the market in the last couple of weeks. It peaked at $0.022219/293 satoshi on the August 1st before plunging into a strong downturn which ended on the 14th with the price of $$0.010098/168 satoshi. This bottom turned into an uptrend which peaked on the 18th with $0.16781/255 satoshi and IOST hovered above 210 satoshi levels until September 5th, when we saw another strong drop-off. The drop bottomed out at $0.010401/167 satoshi and the currency started to recover ever since.
IOST can be purchased for $0.012015 USD (5.86% drop in the last 24 hours)/187 satoshi (4.51% drop in the last 24 hours). With a daily trade volume of 996 BTC, the cryptocurrency isn’t the most traded one out there. With a market of $109,323,866, IOST is currently the 62nd most valuable cryptocurrency on the market.
“The IOST / BTC chart has been descending for months. Along with this, we see ascension on the RSI. This divergence has been building for months and when it pops it could be huge.
FA: The team is set to launch its 2nd phase of the test net, as well as aggressively working toward corporate sponsorships.
My guess would be that on the advent of a positive news cycle, IOST is going to push up into the top 40.”
IOST, the project that is looking to become the scalable, high throughput smart contract platform of the future by integrating innovative technologies like sharding, TransEpoch, Micro State Blocks and the Proof of Believability consensus algorithm, had a few interesting updates for the community.
IOST will also be sponsoring this year’s Malta Blockchain Summit that will be held from the 1st-2nd November, with the project’s CEO Jimmy Zhong operating as an eminent mentor for over 300 devs that are expected to attend this event. Project’s CTO Terrence Wang is also an active community contributor as he holds weekly community Q&A’s; if you have any questions you’d like to ask him, you can do so via the form provided in the tweet below.
Do you have a question about the #IOST network or #blockchain technology? You can submit your questions to $IOST CTO @terrence_iost – every week he will answer #community questions!https://t.co/oPksjPeu4w#cryptocurrency #crypto #technology pic.twitter.com/p9zk65ibqi
— IOStoken (@IOStoken) September 23, 2018
The latest Q&A contained answers to the questions regarding the launch of the IOST mainnet and where the team sees the project in 1, 5 and 10 years from now. Regarding the mainnet topic, Wang confirmed that there will be two major testnet updates before the mainnet launch goes ahead (planned for Q1 of 2019). The new testnet seems to be coming up in the near future as the project plans to unveil the actual release date in the upcoming days.
— IOStoken (@IOStoken) September 22, 2018
Finally, IOST co-founder and CDO Kevin Tan wrote a technical explanation of how the project plans on building a better blockchain for the “decentralized future”. You can read that article here. The project also released an updated roadmap which can be read through on their website.
?Read here about best LTC wallets.
If there is anything to hold against the project it’s their unusual social media numbers. Their twitter regularly has posts that are retweeted/liked more than thousand times (and usually in almost 1:1 ratio) but only have a couple of comments on them, which is a clear sign of a project using Twitter bots to boost their ratios. Still, the project has a pretty solid TwitterAudit ratio of 88% real followers so it’s unclear how real their Twitter numbers are.
The project is another one in the line of smart contract platforms looking to assault the Ethereum’s throne. With an intelligent reputation system, decentralized governance, and an efficient consensus mechanism, IOST has some solid arguments in this fight. The issue is that there are plenty of competitors who have similar weapons and are equally as dedicated to becoming the next Ethereum killer. There’s not much we can do but wait and see what the IOST mainnet brings to the table.
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