IOST To Launch Its First Mainnet Platform

By Anne W. | February 26, 2019
IOST To Launch Its First Mainnet Platform

Beijing-based blockchain infrastructure IOST has introduced its first mainnet platform for its IOST cryptocurrency on Feb 25.

IOST also revealed that its “Global Partner Network” has had 150 partners, including CoinGecko, Huobi, DEXs and other smart contract frameworks for the new platform. According to IOST, decentralized applications (DApps) will be able to go live for consumer use on March 10.

“The real value of a network is dependent on the applications that come with it, not just the technology behind it,” said Jimmy Zhong, CEO of IOST in an interview with VentureBeat. “Ultimately, mainstream users do not choose operating systems – they choose the applications which bring the most efficiency and enjoyment into their daily lives.”

Davis Gay, co-founder of Rate3, one of IOST new partners added: “Building the iStablecoin service on IOST has accelerated our ability to reach a wider base of users and introduce them to a lively, fast-growing ecosystem”.

IOST has also settled a $50 million fund to boost dApp improvement. “Launching our mainnet alongside a number of DApps that are ready to engage with is a meaningful step for the IOST ecosystem,” Zhong said. “Our hope is that it will play a positive role in the widespread acceptance and adoption of blockchain technology.”

Unlike other blockchain protocols, IOST has considered itself as an “application friendly” blockchain, suitable for ventures and businesses. The company’s goal is to establish a trusted form of business.

The organization has offices in Beijing and New York. Beforehand, IOST has raised $35 million from various endeavor reserves, including Nirvana Capital, Matrix Partners, Huobi, Sequoia, Theseus, ZhenFund, and Bluehill.

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