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IOST launched its Blockchain Testnet to the Public

IOST launched its Blockchain Testnet to the Public

IOST blockchain platform has officially launched its IOST testnet, IOST Everest v0.5,  to the public.

Everest brings the IOST blockchain functionally online and it will implement two more testnet releases before the release of its full mainnet, planned by the end of 2018, said IOST blog announcement.

IOST an enterprise-grade blockchain infrastructure for online services. IOST stands for Internet of Service Token and touted as “the secure, scalable blockchain that actually works.”

IOST is laying the foundation for ultra-high transactions per second (TPS) network that meets the security and scalability needs of a decentralized economy. Its mission is to be the underlying architecture for the future of online service providers globally.

‘Everest’ release brings one of the highest transaction per second speeds in the blockchain industry.
The real-world deployment of IOST's Everest Test Network nodes spans across Tokyo, London, Singapore, Mumbai, Frankfurt, Seoul, and Montreal, states the announcement.

The IOST testnet blockchain explorer can be found at https://explorer.iost.io.

Features of IOST testnet 0.5 Everest include,
  • IOST consensus mechanism: Proof of Believability (PoB) running in a real network environment
  • Average throughput between 7,000-8,000 transactions per second
  • Smart contracts system featuring key-value pair storage, inter-contract API calls, and multiple signatures
  • API-oriented smart contracts to quickly write and deploy code
  • Blockchain Explorer to display transactions and blocks
  • ‘Playground’ to test smart contracts locally
  • Ability to build private IOST test networks
  • Ability to run IOST testnet nodes
IOST also announced the launch of two separate organizations with strong institutional backing.

A blockchain incubator and accelerator Bluehill recently raised $50 million. Bluehill provides crucial backing for IOST industry partnerships and projects built within the IOST ecosystem.

Theseus is an IOST-incubated R&D team. Its main purpose is to push the envelope in blockchain technology and paving the way for the IOST developer community.

The original IOST announcement can be found here: https://medium.com/iost/public-testnet-launch-iost-everest-v0-5-b9b2ad9fb209

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Mandar Pise Opinions expressed by techsutram contributors are their own. More details

Mandar is a seasoned software professional & Fintech, Cloud, IoT, and Blockchain enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about Fintech, Cloud, IoT, AI and Blockchain, and the effects they will have economically and socially in the future.

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