IOST (IOST), an altcoin platform aimed at solving the problems of scalability, high transaction fees and low transaction speed, has announced a strategic partnership with Hong Kong WEB3HUB, a digital innovation center that supports Web3 companies in the region.
According to the official blog post, the partnership will focus on:
- To provide blockchain core technology support and global ecosystem empowerment for sustainable innovation and development of Hong Kong's Web3 sector.
- Attracting global cryptocurrency Web3 companies to be established in Hong Kong and facilitating exchange and collaboration opportunities for Web3 companies entering the region.
- Establishing a dynamic digital industry innovation environment, comprehensive ecological support plans and appropriate incubation and reinforcement measures for Web3 businesses entering Hong Kong.
- To create an international and innovative Web3 digital ecosystem hub in Hong Kong.
The partnership will also integrate the $5 million Ecosystem Incentive Fund launched by IOST and BitValue with a dedicated support scheme for the Hong Kong market. Together with WEB3HUB's "Global Acceleration Program and Ecosystem Fund", the partnership will support the digital transformation and advancement of Web3 businesses in Hong Kong.
IOST is a blockchain platform that claims to offer "a new and innovative blockchain paradigm designed to provide horizontal scalability and high transaction throughput". It uses a hybrid consensus mechanism called proof-of-believability (PoB) that selects network nodes based on their stake, past contribution and behavior.
*Not investment advice.