IOST, a decentralized blockchain network creating the next-generation consensus algorithm known as “Proof of Believability” (PoB), recently ranked first at the Center for Information and Industry Development (CCID). This respected organization organizes technological advancements.
Sequoia Capital, Matrix Capital, ZhenFund, and other prominent investors are presently backing IOST. The IOST project team comprises researchers and engineers who have a lot of experience with blockchain and distributed ledger technologies. With alumni from prominent colleges such as Princeton, Stanford, MIT, Tsinghua University, and Beijing University, the team’s academic credentials in the blockchain business are well-established. IOST is focused mainly on enterprise clients, offering blockchain technology and applications to online service providers.
IOST’s public blockchain and Ethereum, EOS, and TRON are commonly considered one of the Big Four public chains in the crypto business. IOST presently has over 500,000 community members in 20 countries, with over 480 nodes serving over 1110 contracts. IOST’s Node Program is also a popular staking platform, thanks to its minimal risk and easy-to-use interface.
China’s Ministry of Industry and Information Technology has issued a rating of 37 well-known global public blockchain initiatives. According to the CCID (Qingdao) Blockchain Research Institute Co., Ltd., a subsidiary of China’s Ministry of Market and Information Technology, the assessments examine important actors in the industry and index developments in the sector.
The CCID (Qingdao) Blockchain Research Institute is a separate legal entity with Ministry of Industry and Ministry of Information Technology approval. It was founded by the Ministry of Industry and Information Technology, which is its parent organization. As a result, CCID is primarily focused on blockchain consulting and technical services. CCID is a member of the China Blockchain Ecosystem Alliance’s Secretariat.
Top crypto projects are ranked based on three criteria: underlying technology, applicability, and innovation. These three categories evaluate projects based on the following criteria: technical development, functionality, performance, security, and decentralization grade (Basic Technology); node ecosystem deployment, wallet compatibility, development support, and implementation (Applicability); developers’ team size, code update frequency, and code’s influence on the overall block (Development Support); and developers’ team size, code update frequency, and code’s effect on the general block (Development Support) (Innovation).
The evaluations were carried out in partnership with some organizations and committees, including the CCIDWise Network Security Institute, the China Software Evaluation Center, and the Cyberspace Security Magazine, to name a few.
IOST has surpassed other significant industry competitors such as TRON, Tezos, and QTUM in this newly issued rating, securing the top spot for the fourth time in a row. IOST received a bronze medal in the overall ranking with a total index score of 130.6 points and first place in the basic technology sub-index with a rating of 106.7 points.