Just yesterday IOST launched what’s been called ‘the largest referral program in the history of cryptocurrencies.’ Some Reddit users have claimed the company is making a play for increased market share and visibility, in a similar manner to what Tron did not so long ago.

IOST Plans to Launch Its Mainnet By The End of The Year

I was lucky enough to have Kacper Zytkowicz, the European Business Development Lead at IOST, answer some of my questions on the company’s behalf. Apart from telling me IOST’s tentative launch date for its mainnet, he also shared some of the company’s thoughts on the ongoing referral program.

If you’re wondering what IOST (Internet of Services Token) is, you’re probably not the only one. Up until now, the company has focused its efforts on the Asian market, but it’s now ready to take Europe by storm. Simply put, IOST is attempting to build a scalable blockchain with the help of their ground-breaking consensus mechanism — according to Zytkowicz, their testnet has already achieved 7,000 TPS (transfers per second).

Big Asian Venture Capital Players Already back IOST

Unlike other similar blockchain projects, IOST did not launch an ICO campaign, which could be the reason why most of you haven’t heard of it before. However, the company managed to secure financing from top venture capital players in Asia, such as Sequoia China and Zhen Fund.

IOST assured me their top priority right now is visibility in the West, as the company is already trendy in the East. Just last month, IOST was named the Best Public Blockchain while its CEO, Jimmy Zhong, was named the Best Blockchain CEO, at the 2018 Global Blockchain Technology Development Conference.

Last night was the 2018 Global Blockchain Technology Development Conference hosted by @peopledailyusa. Extremely honored that #IOST was named the Best Public Blockchain (Technology) of The Year and I was named as Best CEO. There's a bright future for #blockchain in China! pic.twitter.com/SjrCQ32wzi — Jimmy Zhong (@jimmyzhong_iost) June 23, 2018

The IOST Community Embraced the Program as If Life Depended On It

The response to the referral program has been overwhelming — in the first 24 hours of its launch, IOST registered over 150,000 signups. According to IOST’s Community Hub, the top referrer brought in close to 3,000 people, at the time of writing.

The referral program is currently on its second day and participants have a chance to win 100 IOST for every successful referral. If you manage to invite 500 people, the company offers an additional 250,000 IOST bonus. The campaign will end on July 29, so if you want in, you’d better hurry up.

Follow us on twitter @cryptoiscomin

Signup for our newsletter here

Interested in other cool crypto posts….check out Lightning Network: How far away is it?and Bitcoin ETF approval could be huge for crypto!.