Everstake - Learning Center

IOST Voting

What is IOST?

IOST is a fast and scalable blockchain network, specialized in hosting transactions and data for large amount of online services.

IOST is built using proof of believability consensus protocol, as it is called by the creators. In practice, it is an implementation of the DPoS consensus algorithm, which provides consensus by with limited number of bodies verifying transactions, but still saves decentralization. This approach allows to build networks capable of very large number of transactions per second.

The IOST network has also implemented new mechanisms, such as Distributed Randomness Protocol, that allows decentralized generation of random numbers, Efficient Distributed Sharding, which increases the network’s fault-resistance in case of major Internet disruptions, and more.

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What is IOST Voting?

In IOST, voting is the process of delegation of a part of the user balance to a Servi Node, which takes part in the transaction verification process and shares rewards from it. Users vote for Servi Nodes by blocking funds on their wallets, and these blocked funds form the voting balance of Servi Nodes, by which they are selected for the network upkeeping process.

Physically, the votes remain on user wallets, and can be un-voted at any arbitrary moment.

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What are IOST Servi Nodes?

Servi Nodes verify transactions and run dApps, and get rewards from transaction fees, which are shared back with the voters. Servi Nodes also store the full blockchain history and are able to provide transaction details in matter of seconds. Annually, all Servi Nodes in the IOST network receive 840 million IOST, parts of which are then cascaded to the users who take part in the voting process.

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How profitable is IOST Voting?

The IOST voting annual yield averages at 17% for all voters. The actual precise yield depends on the stability of the Servi Node you are voting with, its connection with the local shard, and the latest software. To keep up the high standards, all Servi Node operators surcharge a minimal commission, which is already accounted in the average yield. To get more precise yield calculations, use the Everstake IOST staking calculator.

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How to find a good IOST Servi Node?

A Servi Node is an essential element for the IOST network, and the requirements for running Servi Nodes are comparably high. The nodes should have moderately powerful hardware, a stable Internet connection, lots of fast-accessible storage for the blockchain, and well-tuned software. A good Servi Node should have 100% uptime and should be elected to start yielding immediately.

The Node’s operator has to be a transparent company with clear contact details and team overview, run by people who take a considerable part in the IOST community and input their work into the further development of the platform.

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Why vote IOST with Everstake?

Everstake is built by blockchain enthusiasts Attic Lab, who have years of hands-on experience, especially with DPoS networks and staking. All Everstake nodes are hosted in world-class data centers to provide the 100% uptime and instant backup in case of an unlikely problem.

Our developers take part in the IOST community, have built several utilities and tools for IOST users, and use the condensed knowledge of the platform to maximize the yields for all Everstake votes.

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Step-by-step IOST voting guide:

Voting IOST with Everstake is fast and simple with this guide.

  1. Create an account on one of the IOST voting platforms. We recommend BISS as one of the simplest and easy to navigate platforms;
  2. Deposit the desired number of IOST tokens to your account on the voting platform;
  3. Find Attic Lab IOST in the nodes or simply follow this link
  4. Press Vote for Candidate, enter the desired number of IOST tokes, and confirm the dialog.
  5. Done! You are now voting with Everstake and will start to accumulate your profits shortly.