The Internet of Services Foundation is developing a next-generation, scalable blockchain capable of handling the throughput necessary for mass adoption. Its openness, ultra-high TPS, privacy protection, scalability, security, and adoption of many pioneer innovations will provide infinite new possibilities for online service providers to serve their customer base.

Learn more about us on our website and interact with the team on our twitter, telegram, reddit and discord.

Testnet v0.5 Everest

The IOST testnet was officially launched on June 29th!

As a global project that aims to support large scale, practical use-cases for blockchain technology, it is important that the IOST blockchain is tested under real world conditions. As such, we are proud to announce that IOST testnet v0.5 ‘Everest’ achieved two important milestones.

1. Everest used six shards under the POB consensus mechanism to achieve a peak TPS of 7000–8000.

Our internal test deployed two test networks in the Amazon EC2 service, using 1,700 slaves and 900 slaves, each configured with 1.73Ghz Xeon LC-3518 processor, 32 GB of RAM, 256 KiB L2 cache. In the EC2 example, we used nine data centers in Asia, Europe, and the Americas to simulate real-world scenarios and test scenarios for different situations.

2. Proof-of-Believability functioned well in real-world conditions!

Moving forwards the IOST team will continue to update, stress test, repair and upgrade the testnet. We will release at least 2 major testnet updates before the launch of the IOST mainnet. These updates will include the following:

More extensive testing and general infrastructure developments

Additional functionality and security checks for smart contracts

IOST Virtual Machine optimization

PoB running under increasingly diverse environments

Increased stability of node life-cycle

Integration of Layer 1 and Layer 2 scaling solutions with our research progress

More documentation guidelines for developers

International Growth

Nanyang Technological University Hackathon

IOST and Nanyang Technological University (NTU) co-organized a Hackathon to celebrate the release of Everest. Nineteen teams participated in the 36-hour Hackathon Challenge, six teams entered the final round, and the final four teams won cash prizes and were given the opportunity to be incubated by the NTU SPIRIT Research Center.