IOST Weekly Update — June 11th-June 25th

IOS Foundation
Jun 26, 2018 · 7 min read

The Internet of Services Foundation is developing a next-generation, scalable blockchain capable of handling the throughput necessary for mass adoption. Its openness, ultra-high TPS, privacy protection, scalability, security, and adoption of many pioneer innovations will provide infinite new possibilities for online service providers to serve their customer base.

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The IOST Weekly Update is a double version this week due to a national holiday last week. For this reason, the update is absolutely packed with information including 7 partnerships, the launch of Bluehill, 2 new exchange listings and much more. Read on to learn about the exciting things the IOST team has been doing all over the world!


On June 22nd a joint venture with blockchain incubator and accelerator Bluehill was formally announced. Bluehill will support partnership projects, DApp development and blockchain technology innovations within the IOST ecosystem.

Bluehill has raised $50 million in new funds, which will be used to provide support for IOST’s partners, and also to provide assistance for developing projects in the IOST ecosystem. In the future, when Bluehill incubates projects, IOST will be used as a new fundraising method, similar to ETH.

In its first stage, BlueHill announced partnerships with seven projects:

  • Covalent
  • Lambda
  • ContentBox
  • Plair
  • Rate3
  • Certik
  • Origo

The news of Bluehill’s launch received attention from media across the globe. Among them, Coindesk, the authoritative media in the field of blockchain and cryptocurrency, posted a long form report on BlueHill and IOST. This report along with many others served to greatly enhance the visibility of IOST worldwide!

Following the announcement, IOST and BlueHill jointly organized their first offline Meetup in China. The event invited important partners in the IOST ecosystem including investors, exchanges, media, loyal fans, and project representatives from BlueHill’s first wave of partnerships.

IOST Meetup Site

During the event, Jimmy stated that IOST has been working hard to build its ecosystem and that the establishment of Bluehill will provide critical support and services for IOST partners and dApps by helping with funding, marketing, operations, and development.

Bluehill’s CEO Sa Wang also stated that “the addition of new and innovative projects will inject vitality into IOST ecosystem and help the network to grow in a healthy manner.”

Additionally, BMAN, founder of Metropolitan Capital, also participated in the event and had high praise for IOST. BMAN stated that “IOST is the largest investment in the Metropolitan Capital portfolio and is the team working the hardest to bring about a truly decentralized infrastructure. It is inspiring to see them working so hard, even as the bear market puts every project to the test.”

IOST Founders Team

International Growth

On June 23, the “2018 Conference on Global Technology Development in the Science and Technology of the World” organized by People’s Daily and the 31st District was held at the National Convention Center. The conference aims to clarify the chaos in the blockchain industry and create an objective, rational, and neutral blockchain media. It also offers insight into the development of the blockchain industry as well as analysis about blockchain projects.

At the conference IOST won the “Annual Public Link Technology” award and IOST CEO Jimmy Zhong won “Blockchain CEO of the Year.” Jimmy expressed his thanks to People’s Daily for their affirmation of IOST technology and thanked the community and developers for their support of IOST.

Jimmy receives the award at the “2018 Global Link Technology Development Conference”

On June 14th, the IOST Korea team held a closed-door conference with the lawyer/accountant firm ChangChun and the Crypto fund trader ETG to jointly discuss taxation issues facing blockchain projects and their potential impact on the market. Jaebin Lee, head of IOST South Korea, participated in the conference and delivered a speech on the topic of “The Blockchain Business Model in Reality.”

Jaebin (third from left) speaks in a closed session

South Korean journalist Taeyong, well known in South Korea for his interviews with CEO’s of tech companies like Kakao, has also released an interview with IOST CEO Jimmy Zhong. In the video, Jimmy talks about his personal experience, the original idea that led to the ​​creation of IOST, and IOST’s project progress. The interview can be found here in English and Korean.

On June 18th, the IOST Southeast Asia team took part in the “Blockchain and Why It Matters” event held in Singapore. The event was organized by the “Women in Asia” group in Singapore to help professional women in Asia understand blockchain technology and encourage more women to join the blockchain field.

The event attracted the participation of people from all walks of life, reflecting the enthusiasm that abounds across Singapore for the blockchain industry. As one of the co-organizers, IOST representatives spoke to the importance of diversity and inclusion of all people in the decentralization movement.

“Blockchain and Why It Matters”

On June 20, IOST co-founder and now Bluehill CEO Sa Wang was interviewed by Crypto Times, the top blockchain specific media outlet in Japan. In the interview, stated that PoB was a significant advantage for IOST and that the testnet launch will serve to validate the PoB mechanism. In addition, Sa mentioned that the IOST mainnet is ahead of schedule and will likely be released at the end of the year.

Developer Update

1. [Transactions] The complete transaction lifecycle has been tested and used. The transactions process has been packaged.

2. [Applications] Applications logic has been tested and is ready for use.

3. The [Nodes] node end function has been fully tested.

4. [Ledger] The validation cycle of the correctness of the transactions that make up the block has been completed.

5. [Configuration] of the peer node has been tested and put into use.

6. [Maintenance & Release] Preparation for the release of the first version of the test network, and the release management system has been completed. Active maintainers will in turn become release managers to maintain the release.

7. [Testnet Demo] The test network demo game has been completed and is ready for use.

According to TokenInsight’s statistics, the IOST team submitted code 79 times in the past 7 days, ranking eighth; and submitted code 390 times in the past 30 days, ranking seventh. IOST technology development has been steadily progressing, and the test network will also be online as of the end of this month. Stay tuned!

New Exchange Listing

This week, IOST was added to the digital currency exchange BitMart. BitMart is a leading global comprehensive trading platform. It has officially completed the MSB registration of the US Federal Ministry of Finance and can legally conduct currency exchange transactions in most US States.

BitMart’s has strict currency standards and currently only lists 13 cryptocurrencies. Speaking on the decision to list IOST, a BitMart representative said, “we have a compliance review system to ensure that all the projects BitMart users encounter on our platform are safe, compliant and innovative. We believe IOST meets these standards.”

IOST was also listed by the decentralized exchange ERC dEX. Founded in 2017 in Texas, USA, ERC dEX is a decentralized exchange for peer-to-peer exchanges of ERC-20 tokens. The platform is built on the 0x protocol. It does not need to provide identity information for transactions and does not cause information disclosure. It is safe and reliable, and simple.

Community Progress

In addition, an enthusiastic member of the Japanese IOST community designed a website for IOST to collect information on IOST news and project progress. We thank him for his incredible efforts and welcome more community members to show us their creativity!

Website address:

We are Hiring

The Internet of Services Foundation IOST plans to further expand our team in The United States, Europe, Southeast Asia and Japan. We are looking for skilled individuals who are as passionate about blockchain as we are. If you believe you have what it takes, please send resumes to

IOS Foundation

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Decentralized Internet of Services

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