IOST Price Prediction & Forecast
[Updated 17 February 2019]
Thinking of investing in IOST in February 2019? Here is our honest price prediction and forecast.
- Fundamental Analysis
- Technical Analysis
- Specialists’ Perspective
- IOST Price Prediction 2019
- IOST Price Prediction 2020
- IOST Price Prediction 5 years
- Our Prediction
IOST was developed in response to the burgeoning need for robust performance in blockchain technology. The blockchain is now a comfortably-established technology player, both as a foundation for cryptocurrency as well as an innovative online business-development solution. Developers and consumers alike are now demanding better performance for adoption. They are looking for features like faster transactions, more flexibility, and a user-friendly interface. IOST is hoping to be the solution.
Staffed by a qualified team of blockchain experts and experienced business people, the platform has made a name for itself in just over a year simply by doing what it promised. From a technological perspective, IOST offers an elegant platform. It is clean, creative, and useful.
Additionally, the platform provides clear communication, ensuring that all updates — including goals, achievements, risks, and potential barriers and roadblocks — are readily available to its stakeholders.
IOST has managed to survive the 2018 bear market that smothered more established currencies. It has a market cap of approximately $80 million. Most surprisingly, where other tokens have remained low or even continued to plummet since December lows, IOST has seen a growth of nearly 100 percent — moving from $0.003 back up to near $0.007 over the past two months.
IOST is an ERC-20 token on the Ethereum blockchain.
From a fundamental perspective, the IOST cryptocurrency offers a clear value proposition. The project is directed toward the Internet of Services (IoS). Its intended purpose is to give service providers an infrastructure on which to develop online service offerings. The blockchain ideal of a decentralized economy requires the security and scalability of a project like IOST, with a foundational structure that other online businesses can utilize.
One of the more interesting facets of the IOST project is its new and unique consensus mechanism, known as proof of believability (PoB). This groundbreaking validation system is based on the past history of individual contributors — as well as their behavioral patterns. Part of the PoB consensus mechanism is a fairness algorithm, which enables its decentralized blockchain protocol by a data distribution process to the various nodes.
The proprietary IOST Efficient Distributed Sharding Technology is another helpful upgrade IOST has introduced to the blockchain industry. The network uses this technology to partition data and transactional capacity into interactive sub-nodes that work together. This creates exceptional speed and efficiency throughout the network. It is the basis of the IOST claim of unlimited scaling capability with high TPS.
The Singapore-based IOST blockchain has been operational for just over a year and joined the market at a time when cryptocurrency prices were hitting all-time highs. Its premise — an open-source, decentralized goods-and-services exchange for digital products — generated instant interest among blockchain investors.
The initial coin offering (ICO) token sale ended Jan 3, 2018, after distributing the entirety of the token supply as planned for a total of $31.3 million. IOST hit an all-time high of $0.127085 on Jan 24, 2018, just after the token sale ended — bringing the market cap to a stunning $864 million. It has been on a steady decline ever since, save for a brief recovery in May 2018 which saw prices climb back up to about $0.07 USD.
The ongoing poor market performance of IOST can, of course, be attributed to the poor state of the entire cryptocurrency market. For the past year, led by BTC and ETH, cryptocurrencies have been entrenched in a terrible bear market that has affected every token currently available. However, the massive market cap at the high was not reflective of the actual business book of the company.
However, unlike many other tokens, IOST hit bottom in December at just under $0.004. The difference between IOST and most other tokens is that it has seen significant recovery since. While the token has not traded above $0.01 in the past three months, it has recovered from the lows of early December. It now sits just under $0.007.
The current growth trajectory is stable and appears to be organic, based on increased user presence and strong fundamentals. The token has shown strong support over the past 60 days at $0.0055 — touching that level once but remaining on a growth trend.
IOST has responded well to the ongoing battle for ultimate scalability. While other networks introduced sharding well after the mainnet launch — recognizing that something needed to be done to combat the inefficiencies brought on by massive file size and poor transaction time — IOST used a different approach. IOST was built on the concept of sharding. The fact that the network proactively worked immediately to mitigate scalability issues garnered significant attention throughout the industry.
This creativity has put the token in the top 100 currencies based on market cap. It has similar goals to other top tokens, including real-world adoption via mass scalability, better transaction throughput, and strong security. The IOST team has continued to develop creative solutions to these challenges.
Specialists like Brian Penny from CryptoBriefing appreciate the microstate block concept. Using this protocol, only the headers from previous blocks are transferred and stored to new blocks. This results in a tremendous size reduction and much higher TPS. He is, therefore, strongly bulling on the future of the token.
However, while praising the benefits of this system, experts also express concern. The IOST fragmented approach may resolve scalability, but it could bring a loss of security as well as stability. Thankfully, IOST has partnered with Chaitin Technology to test and resolve security issues in the network.
Analysts at CoinBureau are also broadly positive about the IOST project. They appreciate the impressive core team, including Terence Wang, Jimmy Zhong, Kelvin Tan, and Ray Xiao. These well-qualified industry thought-leaders bring not only education and creativity but heavy IT experience to the table.
While the IOST project generated early and steady excitement, its ongoing success will be dependent upon the team’s ability to stick to the rigorous roadmap published in the IOST white paper. According to Telegram and Medium updates, it appears they have been successful in this. However, several big milestones are approaching — most notably, the mainnet launch.
IOST Price Prediction 2019
After closing 2018 at very low levels, the IOST token has maintained and even grown so far in Q1 2019 — reaching just under $0.007 as of this writing. This price increase of over 42 percent across 2 months is encouraging.
While IOST is not a market leader, its strong position around 50th in the market has garnered a lot of attention for the token. The major events planned for 2019 could also factor into prices this upcoming year. EDS and PoB testing are slated for Q2 2019, while IOS smart contracts and HUDS should launch by year’s end.
Once implemented, prices could rise another 50 percent, hitting as high as over $0.01. However, with all of the new technology scheduled to implement this year, it could also really take off to prices as high as $0.03 or above by the end of 2019. The basis for this prediction is built entirely on fundamentals and a strong showing for the token already this year.
IOST Price Prediction 2020
By 2020, IOST prices could reach $0.10 or more. The token holds a unique value proposition for the broader market. Widespread adoption of the platform by other centralized businesses seeking decentralized solutions would drive massive price increases.
Furthermore, to maintain trust, the team has created a transparent communication system that alerts stakeholders to progress, as well as barriers. It appears to be on track to meet its roadmap milestones over the course of the next 10 months — another benefit that will factor strongly into the overall success of the token.
Of course, the relative newness and volatility of the crypto scene must not be overlooked when offering price predictions for any token. Additionally, while IOST is seeing positive upward movement, the bear market is not over.
IOST Price Prediction 5 years
With a strong concept and surprisingly positive support from blockchain experts and investors alike, IOST prices have high potential within five years — possibly forecast to reach anywhere from $0.025 USD to $0.25 USD.
More conservative sites like CryptoGround offer somewhat lower predictions within five years. Their estimates hover around $0.1 or below. However, this is better than what notoriously low WalletInvestor has predicted. Like most altcoins and pretty much anything other than Bitcoin (BTC), the site expects a drop to zero by the year’s end — circumventing the need for a five-year price prediction.
Nevertheless, the predictions must consider the strong fundamentals of the token and the already-proven track record of sustainable growth over the past few months. This trajectory, especially amid the crypto winter, indicates that the token is set for sustainable growth. The launch of the mainnet and more updates will undoubtedly yield strong returns over the long term.
BeInCrypto has used realistic and honest data and information in order to forecast IOST prices. Because of the genuine value proposition of the platform, we forecast IOST (IOST) will potentially reach as high as $0.03 in 2019. If the bear market continues, however, that needs to be taken into account — as it will have a significant effect on IOST price.
Despite the poor market conditions over the past year, the IOST team has pressed forward. The team has met stated goals and continues to develop the platform through testing, work on its consensus mechanism, and its sharding technology.
The IOST platform has ambitious goals. It is built for enterprise use and, as such, will be compatible with tech giants like Amazon, Google, and various social media networks.
While the IOST platform does face tremendous competition from an array of blockchain solution platforms, the team has managed to persevere and grow among its competitors. It is simultaneously thriving in a bear market. For IOST, it almost seems as if there is nowhere to go but up.
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Nevertheless, investors should always do their own research and tread lightly before investing in cryptocurrency. All cryptocurrencies, including Bitcoin, are extremely volatile. Never invest more than you can afford to lose, and be prepared to lose everything.
What do you think of our price prediction for IOST (IOST) in 2019? Let us know your thoughts in the comments below!
Images courtesy of Shutterstock, CoinMarketCap.
Disclaimer: The contents of this article are not intended as financial advice, and should not be taken as such. BeInCrypto and the author are not responsible for any financial gains or losses made after reading this article. Readers are always encouraged to do their own research before investing in cryptocurrency, as the market is particularly volatile.