IOST identifies itself as an ultra-fast, full-fledged decentralized blockchain network and ecosystem with its own nodes and wallets based on proof-of-believability consensus.
To better understand how IOST works, it is necessary to compare it with its closest competitors. Ethereum is the most popular platform using smart contracts among developers. But it can even be compared to the EOS or TRON platforms, which are highly scalable with great usability.
The biggest difference between IOST and its competitors is that it can process up to 100,000 transactions per second, compared to Ethereum's 20 per second, Tron's 2000 or EOS's 4000.
The IOST blockchain infrastructure is open source, secure, scalable, and was designed in the hope that it will serve as the background and backbone of online services in the future. The "proof-of-believability" consensus algorithm developed by the team ensures the safety and efficiency of transactions carried out on the network.
In order to achieve such speed, the IOST team created a new blockchain system, which introduced several innovations, innovations and protocols, including the already mentioned proof-of-believability consensus. It is primarily designed for use by large companies, i.e. according to its claim, it is also suitable for handling giants the size of Amazon, Google or Facebook. The key to the further success of the project is the establishment of partnership relations.