Internet of Services (IOS) Raises 35K Ether in funding

The Internet of Services (IOS), a blockchain project focusing on creating a more efficient and scalable blockchain for services, has just closed 35K Ether or 40 Million USD in funding. The key, distinguishing aspect of the IOS infrastructure lies in its goal to allow for faster and more secure payments online across multiple decentralized and customizable service platforms.

Established investors, such as Sequoia China and Matrix Partners China, stand among the major financiers backing this new project. Currently, IOS represents one of the hottest tickets in China and its conceptual model follows the emerging pattern in the explosive development of cryptocurrency technologies that have led to their booming prices.

The efforts behind the inception and creative force of the IOS team are draw from an eclectic mix of talent from top universities including Harvard, Princeton, Stanford, and more. The IOS team explains the motivation behind the project, We are frustrated that most blockchain technologies are limited by their technical designs. In general, large fees and limited computational capacity prevent widespread blockchain adoption.

While the teams ambitious vision of creating a more scalable and available blockchain possessing mass practical applications began in 2017, and it has expanded to specifically target virtual goods and services marketplaces, cloud computing, file storage, e-commerce, online gaming, gambling, prediction markets, online advertising, and every major field under the sky. Lets take a look at the specifics around how IOS will revolutionize these digital good and service marketplaces.

Demystifying the IOS Infrastructure

The IOS infrastructure allows for online service providers to perform complex and secure transactions at scale because of a number of its cutting edge technologies:

• EDS (Efficient Distributed Sharding)
• PoB (Proof of Believability)
• HUDS (Hyper Universe Distributed System)
• FTFS (Fair & Transparent Feedback System)

Each of these technologies plays an integrated role in forming the stable backbone for feasible and safeguarded transaction possibilities. One of the most exciting capabilities of IOS is its capacity enabled by EDS to process large volume of transactions securely and fast. Instead of having the entire network to verify all transactions, the IOS blockchain divides all nodes into smaller pieces called shard, which allow the network to process transactions in parallel. EDS, as well as these other three infrastructural elements, allow for the creation of an IOS ecosystem through which users can search for specific applications or services tailored to their needs.

Solving Efficiency and Scalability

The EDS and PoB form the basis on which IOS can support this decentralization at scale. For instance, the EDS is a proprietary system which creates more efficient blockchain networks by reducing the transaction processing load for each validator. This, in turn, creates the possibility of scaling processing capacity proportionally with the number of new users.

Meanwhile, the PoB mechanism builds on the existing PoS (Proof of Stake) concept and modifies it. The PoB mechanism proposes a randomized PoS consensus protocol based on a variety of factors such as token balance, contribution, user behavior, and more. Both the EDS and PoB are vital to creating the ultimate goal of a creating a high-through block chain network, as they allow for IOS to scale-out while preserving long-term security of the system.

In the middle of a rapidly evolving blockchain environment, IOS has managed to distinguish itself and capture the attention of major investors along the way. Its pursuit of decentralization in the online payment process through the SPDL will pave the way for convenient and useful online commercialization.