IOST Mainnet Running Smoothly | 28 Days after Mainnet Launch
As of today 24 March, 28 days after the launch of Olympus v1.0, the IOST mainnet is running smoothly with highly stable performance.
IOSTABC Block Explorer — Created by EOS Park
EOSPark is one of the most powerful and feature complete block explorers on EOS. Its development team, BlockABC, has developed an exclusive IOST block explorer — IOSTABC. IOST officially launched IOSTABC on 12 March. Over 200 Partners have joined the IOST ecosystem, with 88 already elected to date having met the minimum vote requirements.
Users can check more performance and node data at https://iostabc.com/.
IOST — At the Forefront of Blockchain Innovation
Since the IOST mainnet launch, the advantages of our unique consensus mechanism — Proof of Believability are gradually unfolding. In a win for decentralization, IOST mainnet is currently supported by over 60 Servi Nodes who are taking turns to produce blocks in 10 minute interval rotations. This is a substantial improvement over Delegated Proof-of-Stake (DPoS) networks which are controlled by exclusive groups of Supernodes (usually 20–30+ Supernodes per network).
In contrast, IOST Proof-of-Believability (PoB) consensus does NOT use Supernodes, which creates a fairer and more equitable blockchain network that is, at its core, community governed.
PoB also shows that the Scalability Trilemma is not impossible to solve — although IOST is more decentralized than other blockchain platforms, it is still capable of being highly scalable with high transaction speeds at the same time.
We are excited that IOST has developed technology that is at the forefront of innovation in the blockchain industry, and sincerely hope for more community support as we continue in the new chapter of IOST’s development and ecosystem growth.
IOST — Experiencing Rapid Ecosystem Growth
As promised, IOST’s mainnet launch is just the beginning. It is the start of a brand new exciting chapter for our entire community and supporters.
As of 24 March, IOST has hit block height of 7,023,871, with block production by our Servi Nodes running smoothly. IOST users are showing significant activity, with over 16 million transactions already done to date.
In addition, mainnet accounts registrations are rapidly growing. In less than one month, IOST is already close to 20,000 mainnet accounts, which is already ahead of other blockchain projects in the same time period following their mainnet launches.
Endless Game — Exceeded 1 Billion IOST Volume within 48 Hours and Ranking Top 3 on Dapp Charts
The first IOST Dapp — Endless Game, was launched on 20 March. With a huge community of excited supporters just waiting to try out the first IOST Dapp, Endless Game swiftly climbed the Dapp rank charts to rank as a Top 3 Dapp globally. In less than 48 hours, users have already exceeded 1 Billion IOST in transaction volumes!
You can check out more related data on DappReview.
The launch of Endless Game was extremely successful in part due to substantially lower transaction fees and more intuitive and user-friendly experience, which are all made possible by virtue of our decentralized Proof of Believability consensus.
Three Advantages of IOST Mainnet
In the process of developing Olympus v1.0, IOST mainnet, we have learned from history and other blockchain projects, and refined our base layer technology to create system models that do not possess these weaknesses.
1. Equitable Wealth Distribution
PoB consensus ensures more equitable wealth distribution. In Proof-of-Stake (PoS) networks, larger and older sets of coins have a higher probability of signing the next block, and Block Producers have incentives to collude with each other and form cartels. On the other hand, in Proof-of-Work (PoW) networks, the high waste of computing resources has been a thorny issue for a long time, and are increasingly controlled by large mining pools.
PoB design inherently addresses these weakness in PoS and PoB. PoB not only rewards nodes based on account balance, but also takes into account how much contributions they are making to the community. Nodes who make more contributions to the community receive more rewards, which incentives them to contribute more, creating a positive contribution cycle.
2. High Performance P2P Network
IOST’s transactions per second (TPS) output reached up to 8,000 in its beta test. With greater user adoption and more DApps onboard the mainnet, we will start to see the scalable nature of the IOST mainnet shine and the IOST mainnet’s full potential will be displayed for our community.
3. Highly Secure and Efficient V8 Virtual Machine
Virtual machines on blockchain platforms mainly focus on running smart contracts. After researching the vulnerabilities in EVM on Ethereum and EOS, IOST fundamentally solved these design flaws by building the IVM based on V8 Core, after considering V8’s high performance on Node.JS and Chrome.
As more users and developers join the IOST ecosystem, we will continue to educate users and developers on how they can interact with the various Dapps on IOST, and participate in new ecosystem initiatives, thereby growing the IOST network.
Watch out for more exciting developments coming soon!
