IOST Launches Blockchain Testnet to the Public

IOST, an enterprise-grade blockchain infrastructure for online services, officially launched its testnet to the public.

Its Testnet v0.5 ‘Everest’ achieves one of the highest transaction per second speeds in the blockchain industry and includes a range of functionality for developers to build upon.

Backed by $40 million from world-class investors, including Sequoia China and Matrix, and led by a team of repeat founders, IOST is laying the foundation for an ultra-high TPS network that meets the security and scalability needs of a decentralized economy. Its mission is to be the underlying architecture for the future of online service providers globally.

Terrence Wang, CTO, said: “We have been hard at work for the past year laying the foundation for a next-generation blockchain infrastructure. Testnet launches are a key point when a blockchain project can be experienced as a functional prototype of a ‘final product’ — where it crosses over from theory to function.”

The Everest Test Network is deployed in a real-world environment, and runs on multiple nodes deployed in Tokyo, London, Singapore, Mumbai, Frankfurt, Seoul, and Montreal.

IOST will implement two more testnet releases before launching its mainnet by the end of 2018.