The mainnet serves as the fundamental backbone of any public chain ecosystem, playing a pivotal role in “shaping its development,” according to an update from IOST.
IOST’s mainnet was officially “launched on February 25, 2019. Over the course of the past four years since its inception, the IOST development team has been dedicated to continuous innovation and optimization through a series of version updates.”
Recently, the IOST mainnet Olympus V3.11.4 “was officially released, marking a significant milestone in its evolution.”
The IOST mainnet has exhibited rapid growth “in terms of block height, mainnet transactions, the number of mainnet accounts, and the deployment of smart contracts.”
As noted in the update, block height plays “a crucial role in determining a public chain’s transaction processing speed. Higher block heights and the inclusion of more transactions in each block result in faster transaction processing within the same time frame.”
As of December 28, 2023, at 10:35, the IOST mainnet has “surpassed a block height of 300 million, reaching an impressive 300,000,742.”
As of December 28, 2023, at 10:35, “the total number of on-chain transactions on the IOST mainnet has reached a remarkable 784,945,599.”
By virtue of the unique PoB (Proof of Believability) consensus mechanism “employed by the IOST mainnet, it demonstrates exceptional performance.”
This mechanism, based “on principles of decentralization and security, empowers the IOST public chain with high scalability and concurrency. It can handle thousands of simultaneous transactions, with the network’s peak Transactions Per Second (TPS) reaching up to 8,000. This robust technical foundation provides ample support for IOST and its partners to deepen their business collaborations.”
As of December 28, 2023, at 10:35, the IOST mainnet boasts “a total of 800,561 on-chain accounts, indicating a growing user base that actively utilizes the IOST mainnet.”
As of December 28, 2023, at 10:35, “the number of on-chain smart contracts deployed on the IOST mainnet has reached an impressive 1,412. This signifies a growing interest among developers in creating applications on the IOST mainnet.”
As time progresses, the team anticipates “that various indicators of the IOST mainnet will continue to experience substantial growth. In the future, IOST remains committed to collaborating closely with developers and the community to collectively establish a globally prominent decentralized system.”
This system will be characterized “by a new generation of scalability-driven decentralization, contributing to the advancement of blockchain projects and the creation of a diverse and multi-dimensional consensus system that distinguishes itself on a global scale.”
As mentioned in a blog post, high fees and slower transaction times “on the Ethereum network have left the door open for new solutions to emerge, and IOST is one such project that has been gaining traction since its mainnet launch in 2019.”
Backed by significant financial and VC firms “such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma once and for all.”
For this, the concluding ranking “from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than Ethereum, EOS, and every other smart-contracting platform evaluated by the agency.”
Being one of the public chains, focused on performance, and utility, IOST remains committed to their mission “to unleash the power of blockchain.”
IOST currently has 500,000 members in its community in “over 20 countries, over 400 nodes, a top-tier staking ecosystem, and symbiotic relationships with corporations dotted worldwide.”