The IOV blockchain (IOV Name Service) utilizes a Proof of Value (PoV) consensus algorithm to secure its decentralized registry of human-readable addresses for blockchains, wallets, and digital assets.
The IOV token will be the staking token of the IOV Name Service. Validators are a critical part of the process. Those interested in participating in the IOV Name Service can use their IOV tokens to ‘stake’ the network, and as a result, have the opportunity to increase the value of their tokens. For example, a validator who owns 5% of the IOV tokens available can theoretically receive 5% of the reward. The larger the stake — the larger the reward.