Iodine is decolorized.
The first reaction stated in the question occurs as follows;
2 KI (aq) + 2 H2SO4 (aq) + MnO2 (s) → MnSO4 (aq) + K2SO4 (aq) + I2 (s) + 2 H2O (l)
The reaction here is the formation of iodine from MnO2 and KI in the presence of dropwise H2SO4.
Hypo is the common name of sodium thio-sulphate or sodium hypo-sulfite.
The equation of the titration reaction is;
2Na2S2O3 + I2→ Na2S4O6 + 2NaI
When this reaction takes place, iodine is decolorized due to its reduction to I^-.
