In the IOS system, IOS Token, like tokens in other blockchain systems, serves as the medium of exchange for all transactions and commission fees. More importantly, IOS also plays an important role in calculating a user’s believability score. All IOS tokens will be generated in the Genesis Block. In the IOS ecosystem, IOS tokens can be used for:
- Payment: Payments for services and goods provided by merchants or other community members.
- Commission: Payment to validators as compensation for running smart contracts, processing messages and transactions, and using resources shared by the general ecosystem including but not limited to storage space, computing power, etc. The commission fee incentivizes the validators and prevents malicious users from damaging the interests of the community through excessive deployment of smart contracts.
- Believability: IOS tokens will be used to calculate users' believability scores.