We’re excited to announce that IOST (IOST) has been listed on Binance.US. You can now buy IOST and start trading on the best crypto platform for low fees.
- Trade IOST (IOST) on the IOST/USD and IOST/USDT pairs.
- Buy IOST (IOST) with Bank Transfer (ACH), Debit Card, or Wire Transfer.
- Deposits and withdrawals are now open for IOST.
Note: This article was last updated on April 18, 2023. Deposits for IOST first opened on April 18, 2023 at 5 a.m. PST / 8 a.m EST. Trading opened 24 hours later, along with the "Buy Crypto" functionality.
What is IOST (IOST)?
IOST is a smart contract layer 1 blockchain based on the “Proof of Believability” (PoB) consensus mechanism that focuses on speed and scalability. Like the Ethereum platform, IOST is also built as a base layer for smart contracts and decentralized applications across DeFi, NFTs, and Web3.
IOST is used to pay transaction fees on the network. In addition, IOST is staked by nodes to gain believability scores, rewarded to the nodes that secure the network, and staked by users to gain access to fee-less transactions.
Similar to Ether (ETH) on Ethereum, IOST is also used as a decentralized storage of value across DeFi. Nodes are also given governance proposal creation power and voting rights weighted by the number of IOST tokens they hold or have been delegated.
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