IOST to Release IOST v.3.0 on March 2nd

IOST is set to release an upgrade version 3.0 on March 2nd.The update will introduce several new features, including an Enterprise RWA Engine, hardware-secured DID devices, a unified payment protocol, and cross-chain infrastructure. Additionally, IOST will become BNB Chain’s premier Layer 2 solution.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.