iOST in Africa: How can an IoS-focused project transform the world’s poorest continent

If you have been following the progress of cryptocurrencies in the last several months, you may have noticed that the name “African continent” keeps popping up more and more often.

This is, of course, no coincidence. In fact, cryptocurrency and Africa are developing one of the tightest relationships in the entire digital finance industry. The development of that relationship is still in early phases, but it is certainly progressing quickly, and projects like the Internet of Services Token (IOST) seems like the perfect solutions for this opportunity.

What is IOST?

As the name suggests, the Internet of Services Token (IOST) is a cryptocurrency that revolves around the Internet of Services. As many likely knows, under the Internet of Services, everything necessary for using software applications is available as a service on the internet. This includes the software, tools for its development, platforms used for communications, storage, and running that software.

Basically, all kinds of services are going fully digital, delivering speed, efficiency, convenience, and more. It is a new concept that is likely going to reach its full potential gradually as crypto mass adoption unfolds.

In fact, that is what IOST is all about — believing that the IOSt is a next-gen blockchain technology that will provide network infrastructure for supporting new online service providers.

The project focuses mostly on delivering the highest possible TPS (Transactions Per Second) rate, while maintaining scalablity, and as secure as it can be. The project, naturally, has its own utility token, its own unique technology, new use cases, features, and more.

But, the important way is how it works — it provides users with a completely decentralized way to exchange online services and digital goods. In addition to that, it also enables the creation and deployment of dApps.

How does this help Africa?

As mentioned previously, Africa has been developing a massive amount of interest in the crypto sector. The feeling is mutual, as the crypto sector sees huge potential in Africa.

IOST comes as a solution for scalability, and while it doesn’t have a brand name as well known as Ethereum, its technology is actually a lot better. In fact, it comes as a solution for scalability issues that even Ethereum could not handle.

Think of it this way — Ethereum is good for dApp development, but if the likes of Google or Amazon ever started conducting all of their traffic through ETH, it would crumble under pressure. In other words, it simply isn’t flexible enough.

IOST comes as a blockchain that can be as flexible and scale as much as necessary. It does this by using advanced new concepts and technologies. Those include distributed sharding, as well as Proof-of-Believability (PoB) verification. In addition, it also uses micro-state blocks in order to create the blockchain enterprise for its users.

So, while its brand is definitely not nearly as well-known as that of Ethereum, its technology and advances in crypto and blockchain definitely make it worthy of attention.

However, that’s not all. With its focus on the IoS sector, it is determined to solve plenty of longstanding problems and bring blockchain technology into much more widespread use.

There are nearly infinite possibilities when it comes to what a blockchain can do. Online service providers can basically deploy an independent dApp for any purpose. That can include cloud computing, online gaming, gambling, e-commerce, file storage, virtual assistance services, prediction market, online advertising, and much more,it is also built as solution to enterprises,large coperations and governments

It can be a major game-changer that would bring money to Africa in return for services, and finally allow its people to provide valuable services, and be appropriately paid for them.

A perfect solution?

Also, this is exactly what Africa needs in order to have an entire continent on the same blockchain, sending payments, using and developing dApps, and gaining access to the global economy. It is a blockchain that can store all the information of every African citizen, serve for proving identity, ownership, and more. It can guarantee transparency, and still allow people to maintain their privacy.

And it can process it all for everyone in Africa, without slowing down or running into a bottleneck.

Add to that the fact that it is permissionless, immutable, truly decentralized, neutral, and efficient, and you have a perfect solution for a blockchain that would focus on bringing a top-notch solution to the entire African continent.

So, while Africans are cut away from the rest of the world, living in poverty and economically depressed countries, they still have access to phones and the internet, and that is all they need to join the crypto sector and turn their world around.