IOST to Begin Airdrop Distribution on Bitkub on July 30
Bitkub will initiate the IOST airdrop on July 30, at 10:00 UTC. Eligible users are those who held at least 1,000 IOST on Bitkub as of March 15, 00:00 UTC. The distribution will be carried out over 48 months, starting with a lump-sum payment covering the first four months, followed by monthly payouts. Bitkub notes the process may take up to 7 days to complete and reserves the right to amend distribution terms.IOST InfoIOST, an acronym for Internet of Services Token, represents an enterprise-level blockchain infrastructure tailored for the Internet of Services. This platform aims at facilitating mass adoption by offering Blockchain as a Service (BaaS) solutions, positioning itself as the foundational architecture for future blockchain services.Central to IOST’s functionality is its unique consensus algorithm, the Proof-of-Believability (PoB). Unlike traditional systems that rely solely on voting results, IOST incorporates a Servi point system to decide and rotate committee members. This ensures a decentralized committee election procedure while preserving scalability and resistance to censorship. IOST’s design ensures a voting and committee formation process where most nodes are qualified for block production (instead of only the top few nodes) and where nodes with more votes are assigned a higher probability to produce a block.IOST, the platform’s native token, serves several crucial functions within its ecosystem. It acts as a medium for payments, both for services and goods rendered by service providers and for the operational fees associated with executing native smart contracts. Rewards for network resource contributions are also dispensed in IOST. The token can also be traded for other tokens within the IOST network ecosystem.