IOST is a platform for developing decentralized applications, especially for service providers.
It introduces the "proof of believability" consensus algorithm, in which nodes receive a score based on their reputation and contribution to the system. High-scoring nodes can become "first-class", allowing them to participate in the validation process. In addition, it features a technology called Efficient Distributed Sharding. These scalability tweaks allow them to process 100,000 transactions r second.
The IOSToken is an Ethereum compliant ERC-20 token.