IOST, an “application-friendly next generation public blockchain network,” is reportedly the first platform to launch an “application-ready mainnet” featuring “multiple live” decentralized applications (dApps).
According to a press release shared with CryptoGlobe, IOST has been able to attract a large number of software architects to start developing applications on its platform. On April 6th, 2019, the IOST network reportedly processed more transactions than Ethereum (ETH), the world’s largest blockchain-based platform for deploying decentralized applications (dApps).
Notably, IOST was able to register 580,231 transactions on its network while Ethereum only managed to log 558,272 transactions on the same day (April 6th).
Over 25 Million Transactions Processed
As mentioned in IOST’s press release, the smart contract development platform has achieved the following after “the first month of its mainnet launch:”
- “Registered [over] 213,000 live accounts on its network, with an average of 15,000 wallets added per day;”
- “Launched 9 dApps, including 6 games (one of which hit 700 million IOST tokens in a single day) and a USD-pegged stablecoin;”
- “Been listed and traded on 26 exchanges;”
- “Processed more than 25 million transactions, including a peak of 580,231 transactions per day;”
- “Brought more than 100 partners and developers onboard to build the IOST ecosystem, all partners totalling to more than 200 today.”
IOST’s management team also recently partnered with Ehang, a Chinese developer of autonomous or self-driving vehicles. This partnership involves the development of a “flight data analytics” software platform for the Civil Aviation Administration of China (CAAC). The project’s software modules have been implemented using blockchain technology and they provide “secure and reliable data” as they “prevent tampering by third parties.”
As noted in the release, the IOST platform has been built on public blockchain infrastructure, and it allows “decentralized application developers [to] overcome some of the most challenging problems with mass adoption.”
DApp Development Platforms Built According To Different Design Principles
The developers of IOST claim that it’s one of the most scalable blockchain networks and its design principles are similar to some of the other leading dApp creation platforms. For instance, Ethereum, EOS and Tron (TRX) have been created in order to build smart contract-enabled dApps.
However, the programming languages and development environments supported by the various dApp deployment platforms are a lot different from each other.
Tron, EOS, Ethereum, NEO and other dApp development platforms also use different consensus algorithms such as proof-of-work (PoW), proof-of-stake (PoS), delegated proof-of-stake (DPoS), and delegated Byzantine Fault Tolerance (dBFT). Notably, IOST has its own consensus protocol, referred to as “proof-of-believability.”