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Convert
Georgian Lari (GEL) to IOST (IOST) Instantly

GEL GEL
IOST IOST
Buy IOST (IOST)

Purchase IOST (IOST) with Georgian Lari (GEL) easily at Switchere and benefit from fast, secure transactions.

About
IOST (IOST)

IOST (Internet of Services Token) is an enterprise-grade blockchain platform designed to provide a highly scalable, secure, and decentralized network for the development of dApps. It directly addresses the blockchain trilemma by aiming for high throughput without sacrificing security or decentralization. The project stands out as a robust Web3 infrastructure, offering a developer-friendly environment capable of supporting service-oriented ecosystems. Its architecture is built to handle the high transaction volumes required by large-scale commercial applications, positioning it as a significant digital asset for enterprise solutions.

The core of IOST's innovation is its unique consensus mechanism, Proof-of-Believability (PoB). This algorithm operates alongside other proprietary technologies like Efficient Distributed Sharding (EDS) and Micro State Blocks (MSB) to achieve impressive transactions per second (TPS). PoB selects validators based on a believability score, which considers factors like token balance and reputation, ensuring network efficiency and cryptographic security. The native IOST utility token is essential for the ecosystem, used for paying gas fees, staking to contribute to the consensus mechanism, and participating in on-chain governance. This integrated tokenomics model incentivizes network participation and secures the distributed ledger.

IOST (IOST)

How to Buy IOST (IOST)

swipe Step-by-step guidance
card Easy credit card payments
btn Streamlined purchase process
  1. Step 1 illustration
    01

    Choose GEL to IOST Pair

    Select your preferred payment method and enter the amount.

  2. 02

    Enter Your IOST Wallet Address

    Provide your IOST wallet address and proceed with the payment.

  3. 03

    Receive Your IOST

    Complete the payment, and your IOST will be sent to your wallet.

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Frequently asked questions

  • What does the GEL/IOST trading pair represent in the digital asset market?

    The GEL/IOST pair represents the direct exchange rate between the Georgian Lari (GEL) and the Internet of Services Token (IOST). It allows users to purchase IOST, a digital asset on a high-TPS blockchain, using their local fiat currency. This provides a direct fiat on-ramp into the IOST ecosystem, which is known for its unique Proof-of-Believability (PoB) consensus mechanism.

  • What are the common methods for buying IOST tokens with Georgian Lari?

    To buy IOST with Georgian Lari, you'll typically use a cryptocurrency exchange or a peer-to-peer (P2P) platform that supports GEL deposits. The process usually involves creating an account, completing KYC/AML verification, depositing GEL via a Georgian bank transfer or local payment method, and then executing a trade on the GEL/IOST order book to acquire the IOST tokens.

  • What technical aspects of the IOST network are relevant when investing via GEL?

    When purchasing IOST, it's crucial to understand its underlying technology. IOST is an enterprise-grade blockchain platform featuring a Proof-of-Believability (PoB) consensus algorithm, designed for high scalability and throughput (high-TPS). Its ecosystem relies on a unique resource model with iGAS and iRAM for executing smart contracts and dApps, which is different from the gas fee model on other networks.

  • What kind of fees should I expect when converting GEL to IOST?

    Converting GEL to IOST typically involves several potential fees. These can include deposit fees for adding GEL to an exchange, trading fees for executing the purchase, and withdrawal fees for moving your IOST to a private digital wallet. Additionally, while IOST blockchain transactions are designed to be efficient, interacting with dApps on the network consumes iGAS/iRAM resources, which function as the network's internal transaction cost.

  • How can I securely store my IOST after a GEL purchase on an exchange?

    For secure storage after your digital asset purchase, it is highly recommended to transfer your IOST from the exchange to a personal wallet where you control the private keys. You can use official IOST mainnet wallets or compatible third-party software and hardware wallets. This practice of self-custody ensures that you have full control over your assets and are not exposed to exchange-specific risks.
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