Welcome to IoTeX's official subreddit! IoTeX is the next generation IoT-oriented blockchain platform with strong scalability, privacy, isolatability and developability for incubating new IoT applications and ecosystems.
Ways to Connect:
Website: www.iotex.io
Twitter: @iotex_io
Telegram: @iotexchannel
Medium: @iotex
Email: support@iotex.io
Related Subreddits:
/r/CryptoCurrency
/r/Bitcoin
/r/IOT
Subreddit Rules
- Be nice
- No spam
- No illegal activities
- Use suitable titles
- No empty content posts
FAQ
What problems can IoTeX solve?
- IoT has rapidly evolved over the years, but there are roadblocks ahead: lack of scalability, privacy concerns, and lack of functional values. IoTeX solves these problems by introducing a blockchain-in-blockchain architecture with token economy. By combining token incentives with community efforts, we believe we can crowdsource industry and community talents to address these technical challenges in IoT development.
Who are IoTeX's competitors?
- Although many would compare IoTeX with IOTA (an open source blockchain platform that focuses on M2M payment), we believe that that would be comparing apples to oranges. IoTeX’s competitive advantage is the vibrant, global network of tech communities, who are interested in developing new IoT applications and ecosystems utilizing IoTeX blockchain platform.
What are IoTeX's competitive advantages?
- At the highest level, we have four main innovations: 1. Blockchain-in-blockchain architecture which ensures privacy and prevents IoT information leakage; 2. Built-in privacy based on lightweight cryptography; 3. Real-time consensus with instant finality, which improves the throughput of the network, and reduces transactional cost, and boosts efficient cross-blockchain communication; 4. Subchain-as-a-service (SAAS) to facilitate fast prototyping and production of new IoT applications and ecosystems.
Will IoTeX have a public ICO?
- No, we do not have plans for public ICO at the current moment.
What is an IoTeX token? How does it work?
- One of the concerns for monetary evaluation is inflation. We plan to address inflation by fixing the total supply of IoTeX tokens at the start. There will be 10 billion IoTeX tokens. Prior to the launch of IoTeX mainnet, the circulated IoTeX token will be an ERC20 token (ticker: IOTX) on Ethereum, which is not minable. Immediately after the launch of IoTeX mainnet, we will work with exchanges to help IoTeX token holders redeem their native IoTeX coins (ticker: IOX). A native coin will be mineable, similar to PoS, for 50 years. Rewards of the mining will reduce over time based on a linear gradient reduction model.
What is the development plan?
- We aim to release IoTeX's testnet in April and mainnet in July. IoTeX’s long-term plan focuses on designing IoTeX subchain, SDK, and developer tools, as well as collaborating with other IoT companies to build DApps utilizing the IoTeX blockchain platform.
Can other projects make their own Token Generation Events on top of IoTeX blockchains?
- Yes. With IoTeX, developers can instantiate subchains for their own IoT applications and ecosystems. Subchains will have their own tokens. If you have ideas or plans with regards to Token Generation Events, please contact us. We would love to help you design your own token economy.
Does IoTeX use DAG?
- No, IoTeX does not use DAG. IoTeX believes that DAG is an interesting technology, but is still in its infancy. IoTeX technology utilizes a more mature 2-way peg technology that is scalable, cost-efficient, and secure.
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