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Convert
Peruvian Sol (PEN) to IOST (IOST) Instantly

PEN PEN
IOST IOST
Buy IOST (IOST)

Purchase IOST (IOST) with Peruvian Sol (PEN) 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 PEN 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 is the best way to buy IOST with Peruvian Sol (PEN)?

    To buy IOST with Peruvian Sol (PEN), you typically need to use a cryptocurrency exchange that offers a PEN fiat on-ramp. The process involves creating an account, completing KYC/AML compliance with a Peruvian ID, depositing PEN via a local bank transfer, and then placing a buy order on the IOST/PEN trading pair. This allows you to directly convert your fiat into the IOST digital asset, which is a token for the high-TPS Internet of Services blockchain.

  • How does IOST's Proof-of-Believability (PoB) consensus affect PEN to IOST transactions?

    IOST's Proof-of-Believability (PoB) consensus mechanism is designed for high throughput, enabling the network to process thousands of transactions per second (TPS) with minimal fees. For a user converting PEN to IOST, this means that once the IOST is purchased on an exchange, withdrawing it to a personal digital wallet is extremely fast and cost-effective. The efficiency of the PoB system, which utilizes Servi nodes, ensures that using IOST for dApps or other on-chain activities is not hindered by high network congestion or costs.

  • Are there specific KYC requirements when using a PEN fiat gateway for IOST?

    Yes, any reputable cryptocurrency exchange providing a PEN fiat gateway will enforce mandatory Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. To purchase IOST with Peruvian Sol, you will need to verify your identity by submitting a government-issued ID (like a DNI), proof of address, and sometimes a selfie for liveness detection. These KYC/AML compliance measures are standard practice to secure the trading platform and prevent illicit financial activities.

  • What are the advantages of building dApps on the IOST mainnet ecosystem after converting PEN?

    Converting PEN to IOST is the first step for developers to access its high-performance mainnet. The key advantages for building decentralized applications (dApps) on IOST include its high scalability (up to 8,000 TPS), developer-friendly environment with JavaScript smart contracts, and a unique resource model using iGAS and iRAM, which makes transaction costs for users negligible. This low-cost, high-speed blockchain is ideal for dApps requiring high throughput, such as gaming or decentralized services.

  • What are the typical fees involved in a PEN to IOST conversion?

    When converting PEN to IOST, you should consider three main types of fees. First, a deposit fee for your Peruvian Sol, which may be charged by the payment processor or bank. Second, the cryptocurrency exchange's trading fee, which is a percentage of the trade value and varies between maker and taker orders. Third, a withdrawal fee to move your IOST from the exchange to your secure digital wallet; for IOST, this blockchain transaction fee is usually very low due to its efficient Proof-of-Believability consensus.
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