💫 About

What is this network?

IoTeX is a comprehensive blockchain-based platform that combines fast, secure blockchain technology with the Internet of Things (IoT) and smart devices. It is designed to enable trusted data from trusted devices for use in trusted DApps. The platform offers full compatibility with Ethereum and other leading EVM chains, thanks to its decentralized bridge. Through W3bstream, it empowers dApps to conduct verifiable processing using zero-knowledge proofs, bridging the gap between off-chain data sources and blockchain applications.

How can I mine tokens?

Mining IoTeX involves managing consensus on behalf of the entire IoTeX Network, a process commonly referred to as "mining". IoTeX uses Roll-DPoS, an in-house consensus mechanism where 24 of the top 36 voted Delegates are randomly selected to produce blocks every hour. Delegates earn a fixed reward of 8 IOTX per mined block (1 block every 5 sec). The top 36 voted Consensus Delegates earn an extra bonus of 80 IOTX per epoch from the IoTeX Foundation.

Any geographical restrictions?

IoTeX provides a blockchain platform with advanced capabilities for tokenizing real assets, enabling investments in assets from around the world without geographical limitations. This global market exposure is facilitated by the platform's ability to create unique NFT tokens that represent real artworks with authentic information about them.

How can I optimize my mining rewards?

To optimize mining rewards on the IoTeX network, stakeholders can participate in staking, where token-holders deposit ("stake") IOTX to vote for Delegates and network proposals. This helps to secure the network and earns stakeholders great returns in IOTX. When staking, there are several parameters that you can choose which can impact your overall returns. For instance, by setting a stake duration of ≥91 days + auto-stake ON you are eligible for Burn-Drop rewards, which are added automatically to your staking buckets every time a new device is registered.

How can I use the network?

The IoTeX network can be used to build and deploy DApps, with the platform offering full compatibility with Ethereum and other leading EVM chains. It also empowers DApps to conduct verifiable processing using zero-knowledge proofs, bridging the gap between off-chain data sources and blockchain applications. The platform is designed for those looking to build with the IoTeX platform, covering everything from deploying basic smart contracts to developing more complex DApps that utilize off-chain data.

Who governs this network?

The IoTeX Network is a decentralized ecosystem that is not owned or governed by any single entity. To facilitate decentralized governance, all IOTX coin-holders are able to stake ("deposit") their IOTX in order to elect Delegates and participate in network-wide votes. Delegates perform the important task of managing consensus on behalf of the entire IoTeX Network. There are currently 60+ Delegates from around the world that are elected by IoTeX stakeholders.

Funding

The IoTeX network is primarily funded by the IOTX coin, which is native to the IoTeX Network. IOTX has multiple uses (or "utility") with the goal of enabling trusted and transparent interactions between various entities in the IoTeX Network, including Delegates, stakeholders, product builders, service providers, and consumers. The IOTX coin and complementary tokenomics establish economic and reputational incentives that ensure the IoTeX Network is maintained in a decentralized fashion.

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