The IOV blockchain (Blockchain Name Service or BNS) utilizes a Proof of Stake (PoS) 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 BNS. Validators are a critical part of the process. Those interested in participating in the BNS 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.