Huobi Nigeria telegram group held an Ask-Me-Anything session with IOST International Marketing Manager Jade Wang and IOST Watch’s Oladayo Oladipupo, the session was anchored by Joe (Huobi Nigeria Knight). Here is the highlight of the discussions.
Jade: Thanks Joe. Hi everyone, I’m Jade, the international marketing manager from IOST. I’m in charge of business development and node ecosystem management in IOST
Zico: Good afternoon once again, I’m Oladayo Oladipupo I started IOST Watch with Jim O’Quinn. You might be wondering what IOST Watch is about, IOST Watch is a partner node on IOST Blockchain we are one of the top tier node partners contributing to IOST Blockchain and our specific contribution is in the area of content creation and promotion in form of articles, news, weekly digest and more. You can check out iost.watch for more details.
Joe: Hello @jaaaadewang
Am sure our community is eager to learn more about IOST
Can you give us a general overview of IOST project?
Jade: sure. IOST is a blockchain application platform developed for online service providers and supported world-class investors. IOST achieves scalability and high TPS through POB consensus algorithm and the design of the second-layer scaling scheme. Through developing an effective community-owned network, it provides a platform for third-party developers, creators, and enterprises to realize greater value.IOST can improve transaction performance without sacrificing decentralization, i.e. protecting privacy, public participation and protecting communities from malicious attacks. IOST is more decentralized than EOS which is based on DPoS mechanism and more scalable than ETH smart contract platform. Apart from the public chain, we are now exploring the field of consortium chain and established our Enterprise Arm, Aiou technology, to provide blockchain solutions for businesses and government. So you could say that IOST is more costumer-oriented, while Aiou technology is more business and government-oriented. Aiou Technology recently just joined Hyperledger as a general member:
Such a gigantic ecosystem IOST is!
I appreciate the fact that your ecosystem is focused on improving transaction speed via the blockchain at the same time giving privacy to users:+1:
We will like to also hear from you.
Can you brief us on the current milestone of IOST project since the beginning of the Quater of this year 2020?
Zico: IOST has a milestone which it is following for this year. A lot of the Q1 milestones are already achieved. Here is a preview of Q1 milestone
1. IOST Node Program 2.0 is focused on improving the rewards system for partner nodes with significant contributions. Details will be released soon by the Foundation.
2. The cross-chain technology is expected to be completed by the end of Q2 in 2020, it’s already in the pipeline according to information from IOST Foundation “IOST’s cross-chain bridge is under construction and will be finished by the end of Q2”
3. After March 10th, IOST will announce the Staking mechanism v3.0 and Contribution Reward System v2.0. The new reward system will be adjusted in order to provide better contribution rewards for partner nodes that make significant contributions to the IOST ecosystem.
4. The foundation is working on compliance in various countries already.
Listing on certain Japanese exchanges is still under discussion and users can expect good news soon.
The foundation is also negotiating with Binance America and exchanges in other countries.
5. Various meetups are organized in different cities of the world, the one particular to Africa is a meet up organized by IOST.Africa node in Ghana details here
Other meetups include Hackathon in Japan, University meet up in Switzerland and Seoul Meetup
We plan to host meet up also in Nigeria before next year you can reach @iostafrica01 node for details on this.
6. There are plans to sign contracts with several top DApp teams in a game conference hosted in Chengdu, a Chinese city by IOST Foundation, however, due to the virus outbreak, the plans are put hold.
7. The Foundation just released an upgrade to the services on the ecosystem, the node program 2.0 and staking mechanism 3.0 are some of the ways to improve IOST community experience.
You can always check IOST Announcement channel to follow up the milestones
Joe: With all the above listed interesting achievements, @jaaaadewang,
Can you give us a general overview of what team IOST is aiming to achieve by the end of December year 2020?
Jade: no problem As Oladayo mentioned, we still have one or two remaining targets to finished in 2020 Q1, and for Q2, here is our roadmap:
basically, further bettering our node community, user experience, developing more DApps, etc., are still gonna be our main focus. Apart from that, we aim to realize more partnerships with business and government.
SEGMENT TWO COMMUNITY QUESTIONS
EllKay: How does the following differ from themselves: PoW, PoS, and PoB?? And what makes PoB that you chose better??
Jade: a good one! PoB is a mechanism invented by IOST and it makes IOST more decentralized than our peers. Thanks to its unique PoB mechanism, every node partner, no matter big or small in terms of the amount of IOST they own, all enjoy a chance to produce blocks. IOST doesn’t set a cap for node number but does set the limit of the maximum reward a node can get, and can avoid “the big get bigger”, which is actually a common situation in many other projects.
MigTyO: With regards to PUBLIC CHAINS, COMMUNITIES and ECOSYSTEM’S can never be overemphasized in importance So what are the special measures that IOST has taken to manage communities and enhance good ecosystems?
Jade: we are responsive and have daily even hourly interaction with our users, which is the key to our successful community management
Folaranmi Oladipupo Huobi Knight 🇳🇬: Weldone IOST team
1. What is the exact problems the IOST consensus algorithm is solving?
2. Is there anything IOST team is doing to attract multinational corporations to adopt blockchain?
Jade: 1. decentralization problem. 2. We recently launched our Enterprise Arm Aiou Tech to provide blockchain solutions for big companies
EllKay: Can you list the presently available means I can use to vote a BP network??
maranatha: What is the UTILITY AND REAL LIFE USE CASE AND APPLICATION OF IOST TOKEN?
Twitter CEO said Africa is the future for everything blockchain, does IOST have Africa in her plans, how would you spread adoption in Africa
Zico: IOST use case cut across various use. We have various decentralized apps Dapp been built on IOST Blockchain, also IOST is been used in the electricity sector in Japan
Recently IOST enterprise arm is working on a Blockchain solution to help Chinese authority against coronavirus
We don’t have a concrete plan yet. But we are working on it and open to suggestions about how to spread IOST reach in Africa.
Ikmat: I am highly impressed with the growth of IOST platform.
1. What in your eyes are the top 5 most impressive partnerships/dApps/achievements for the team so far?
2. Any staking option with IOST token? If yes what are the requirements?
Jade: 1. Partnership with the Wuhan government to create a donation tracking platform to improve transparency for charities. Partnership with the Singapore government in blockchain startup incubation. Finished our first roadmap in advance. Having 60+ DApps onboard now. Partnership with Japenese government in electricity trading project.
EllKay: Truly, you’ve migrated to mainnet. However, there are still circulating IOST ERC20 token. Why is this so??
Zico: This is because a lot of people are still holding the ERC 20 tokens. We expect those with ERC 20 tokens to swap their token on exchanges like Binance and Huobi that are still open for the token swap.
Gabriel: Which countries/regions are the main markets that IOST is focusing on now? How do you think about Nigerian in IOST market development plan? What is your next plan to raise awareness among the crypto community about IOST?
Jade: our main focus is China, North America, Japan, and Korea. We will gradually enter the African market
Mindfulness 92: What is the most IOST feature/project that you are the most proud of?
Zico: Quite a lot of features but the staking feature stands out. IOST is currently one of the highest paying staking project https://iost.watch/iost-tops-other-cryptocurrencies-in-digital-asset-staking-rewards-dividends/
maranatha: I am a big investor and only care how to make residual income, please explain how IOST NODES/STAKING WORKS, WHAT ARE THE MINIMUM AND MAXIMUM REQUIREMENT AS WELL AS APR?
Jade: A good one. You can be a partner node with 2.1M IOST. and you can earn daily staking rewards as well as contribution rewards. You can apply to become a validator once you have 10M IOST and start to earn node production rewards https://link.medium.com/gUUm0pG0z4
Lion King: 1) DeFi has emerged as a very important (and large) trend. I think this will grow in 2020. Does IOST$ intend to get more involved or create more DeFi-based solutions in 2020?
Jade: absolutely, actually, we are now discussing with a Defi team. Please wait for more good news from IOST
Mindfulness 92: How many people approximately at this time are working together for IOST and from how many different countries across the world?
Jade: lols, an interesting question. I would say at least 200 people all around the world. Keep in mind that apart from our team, we have more than 400 partner nodes around the globe
Joe: For further questioning, feel free to join the IOST community