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IOST Forms Partnership With NEST for Decentralized Finance Innovation

IOST, a Proof of Believability consensus algorithm-based blockchain network, has entered a partnership with NEST as part of an effort to create and promote advancements in decentralized finance.

Under the agreement, the two parties will develop new applications and use cases, participate in research and development, and further encourage the adoption of DeFi systems, The IOST Foundation said via Medium.

“With NEST’s proven success on Ethereum and IOST’s next generation high-speed, decentralized infrastructure, the IOST Foundation is confident that this partnership will create a wealth of opportunity for both parties in the area of decentralized finance,” IOST added.

NEST is an Ethereum-based decentralized digital asset mortgage lending platform with, as of May 2019, over 10,000 users and more than 3,000 collateral loan contracts and transaction volumes exceeding $6 million.

According to its white paper, NEST’s initial line-up of products include decentralized loans, insurance, and banking, exchange, and financial management.

The DApp seeks to tackle the finance, business, and gaming industries through innovative products to help the public operate blockchain and intelligent contracts.

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