• IOST is now the fourth most used Blockchain network for decentralized applications (dApps)
• Ethereum, EOS, and TRON are the only networks executing more transactions than IOST at the moment
• CEO Jimmy Zhong says IOST plans to develop a mobile wallet for dApps, to further increase the number of transactions and users on the platform

IOST, a distributed ledger technology project focused on building ultra-high quality blockchain infrastructure to solve the problems of scalability and security plaguing the decentralized economy, has now become the fourth most used dApps platform after Ethereum (ETH), EOS (EOS) and TRON (TRX), according to an announcement by CEO Jimmy Zhong.

IOST racing to the top

On February 25, 2019, the team launched its Olympus v1.0 mainnet, explicitly stating that by March 10, 2019 the chain would be the fourth most robust network for dApps creation after the Ethereum smart contracts network, EOS, and TRON:

“Starting 10 March 2019, IOST will be the fourth usable public chain platform besides Ethereum, EOS, and Tron. By virtue of our PoB mechanism, IOST is now the most scalable and decentralized public blockchain available for users and developers, and can support millions of users on the network.”

Development showing no signs of slowing down

The foundation seems not to be resting on its oars, as CEO Jimmy Zhong has made it clear that in the coming weeks they are looking to add more excellent features to its platform, including a mobile wallet for dApps, increase the network strength to support more dApps, transactions and users, support initial coin offerings (ICOs) and more.

While several established blockchain projects including king Bitcoin (BTC) are still battling with scalability challenges, the foundation claims to have overcome this critical issue and has now developed the first scalable and entirely decentralized network.

Despite the current bear market, it’s worth noting that it remains one of the projects that has weathered the storm, putting in place robust infrastructures to promote wider adoption of cryptos and blockchain technology.

At press time, the price of IOST sits at $0.0085, with a market cap of $102 million and a 24-hour trading volume of $43 million.