Place/Date: - August 7th, 2020 at 9:10 am UTC · 2 min read
IOST — the leading ultra-fast, decentralized blockchain network based on the next-generation consensus algorithm “Proof of Believability” (PoB) is capitalizing on the DeFi wave and spearheading this movement with momentous milestones.
According to the latest medium update on 7 August 2020, IOST unveils its DeFi Roadmap which started since early 2019 and lays out future plans in the rest of 2020.
IOST has an insight into the long-term trend of the DeFi projects and continues to build presence and influences in DeFi based on the rich application portfolio of IOST technology and integration in traditional finance.
As early as the beginning of 2019, IOST has started to lay out a holistic DeFi ecosystem and continued to make inroads in the budding DeFi space with multiple strategic partnerships and emerging on-chain projects from stable coins, decentralized exchanges, cross-chain transactions, lending, financial derivatives, forecasts, and more.
Despite bumps largely due to the coronavirus pandemic, IOST continues to firmly fulfill its commitment in first half of the year. By the end of September 2020, the IOST team aims to onboard at least three DeFi dApps on their high throughput network. Unlike Ethereum which struggles with high network fees and consequential congestions, IOST has zero transaction fees with no congestion. Moreover, they have developer-friendly features drastically improving the efficiency of product development.
According to statistics from Decentralized Finance (DeFi) Market Cap, the total market value of current DeFi projects has grown exponentially & exceeded US$7.5 billion, reaching US$7,589,104,607. In just over two months, the total market value of DeFi projects has soared by a steep surge of more than 700%, and now major exchanges, development teams, and investors are stepping into this nascent space.