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Decentralized and privacy-focused network IOST has announced it will be focusing its network on Non-fungible tokens (NFTs) and decentralized finance (DeFi).
IOST has collaborated with software development teams and companies in Japan, China, and South Korea to make this possible.
But the company is not stopping there, as it hopes to partner with even more companies as part of their outreach, education, and marketing operations.
IOST is another platform developed to provide an alternative feature to Ethereum (ETH), giving that the latter has been bedeviled by high transaction fees and slow transaction speed. On the other hand, IOST is capable of dealing with intensive dApps without sacrificing any blockchain tenets.
The developers of the platform also hope to lure more artists and developers who are looking to explore the world of NTFs and DeFi.
A shift towards decentralized finance (DeFi)
The DeFi trend is gradually taking over the digital asset industry, as several companies and platforms are now trying to identify with the campaign. It seems IOST has followed the trend as well.
There is clear data to show the DeFi campaign is gathering heavy momentum. In Ethereum alone, the top DeFi protocols are managing about $41 billion worth of various digital assets. IOST has made the development of a vibrant DeFi ecosystem one of its main targets in 2021.
IOST offers technical expertise
The platform is consolidating on its earlier efforts last year when they still made progress on DeFi, despite the challenges posed by the COVID-19 pandemic.
Apart from engaging with top companies to launch DeFi products, IOST has been offering technical expertise within the industry.
It is clear that a reliable stablecoin is a necessity for the growing DeFi sector. In agreement with this, the company supported the HUSD stablecoins in 2020. The support of the stablecoin gives users the opportunity to open accounts with the coin’s issuer Stable Universal. Thereafter, they are allocated an equivalent amount of HUSD on the IOST network through a set of cross-chain tools.
The post IOST partners to explore the NFTs and DeFi industry appeared first on Invezz.
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