Have you ever heard of iostcoin?
It’s a virtual currency that has become a hot topic because of a tweet by martial artist Mikuru Asakura.
Who tweeted, “I’ve made millions,” and its value has grown significantly since Coincheck started handling it.
If you are interested in iostcoin, please read on to learn about its features and future prospects.
What is iost coin?
Recently, iostcoin has become a hot topic due to Mikuru Asakura’s “I’ve made millions” tweet.
As of this time, the value of Mikuru Asakura’s iost coin balance seems to have reached 100,026,055 Japanese yen.
The name of this virtual currency, iost is said to be an abbreviation for internet of service token.
The iost coin was only available on overseas exchanges, but in September 2020, Coincheck became the first to offer it in Japan.
After that, there was a rapid increase in the price and although the price has now come back down, it has gained a high level of attention.
Two features of iost coin
High processing capacity
One of the features of iostcoin is its high processing capacity.
Major virtual currencies such as Bitcoin and Ethereum have slow processing speeds, making them difficult to use for payments and money transfers.
What would take a few seconds or tens of seconds with a credit card can take several minutes with Bitcoin or Ethereum.
On the other hand, iostcoin has high processing power and can process data much faster than bitcoin and ethereum.
A comparison of the processing power of each virtual currency and credit card is as follows.
Ethereum: 15 transactions per second
Bitcoin: 6 transactions per second
iost: 8,000 transactions per second
Credit card: 4,000 per second
If you look at this, you can see how strong the processing power of iost is.
Low barrier to entry for development
Because a common programming language can be used, many people can participate in development without having to learn a new language, making it easy for developers to enter the market.
What can I do with Iost coin?
Iost coin is expected to be used in fields such as DeFi (decentralized finance) and NFT (non-substitutable tokens), which will attract even more attention in the future.
In addition, demonstration experiments are being conducted in the field of medical data, and the use of Iost coin as an infrastructure for online services is also expected to expand.
As its use is expected to expand in high-profile fields, it is safe to say that it will continue to be a virtual currency to watch.
Please also refer to the article on Binance, which handles IOST coins.