IOST or an Initial Coin Offering is when a new cryptocurrency is created to fund a project, product or asset. While most people might be familiar with the concept of an ICO (initial coin offering), most people are only familiar with the term “IOT or internet of things”. IOT refers to a network of Internet of Things devices, which will have the ability to communicate and be controlled by smart technology in general. The general purpose for both terms is the same: The creation of a cryptocurrency that has the potential to become extremely successful.
If you were to create a new cryptocurrency, the goal is to create something that can have mass appeal and also be secure. It’s also important to understand that there is no such thing as one cryptocurrency that has to appeal to everyone. It’s about creating multiple currencies that are good at multiple things. You could do this by going after two distinct demographics with different currencies, the millennials and the Generation X crowd.
For example, there are several popular cryptocurrencies that have already been created for people in their early twenties and the generation X crowd. With that said, why wouldn’t you take the cryptocurrency and make it universal. The answer is obvious; you want it to be as successful as possible. You see, cryptocurrencies are always going to be in a high demand. If you can make it so that people that use it regularly want to invest in your currency, then you will be successful. In fact, if you start off slow and have tons of users with limited amounts of money, you will have the opportunity to make a ton of money.