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Blockchain IoTeX

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Official site: https://iotex.io
IoTeX on Hypernum: https://analytics.hypernum.com/ico/iotex

IoTeX is the auto-scalable and privacy-centric blockchain infrastructure for the Internet of Things (IoT). IoTeX’s global team is comprised of Ph.Ds in Cryptography, Distributed Systems, and Machine Learning, top-tier engineers, and experienced ecosystem builders. IoTeX is developing several in-house innovations to push the frontier of blockchain 3.0, including a blockchain-in-blockchain architecture for heterogeneous computing, fast and robust Roll-DPoS consensus scheme, and lightweight privacy-preserving techniques. IoTeX is bringing autonomous device coordination to the masses by “connecting the physical world, block by block.”

One of the key factors affecting monetary value is inflation. We plan to address inflation by fixing the total supply of IoTeX tokens from the start at 10 billion tokens. Prior to the launch of the IoTeX Mainnet, the circulated IoTeX token will be an ERC20 token (ticker: IOTX), which is not mineable. Immediately after the launch of the IoTeX Mainnet, we will work with exchanges to help IOTX token holders redeem their ERC20-based IoTeX tokens for the native IoTeX tokens (ticker: IOX). The native token will be mineable, similar to PoS, for 50 years. Rewards of the mining will reduce over time based on a linear gradient reduction model.

We have released our first Testnet preview, StoneVan, on April 20, 2018. Our next code release will be Mainnet Preview in November. Currently implemented: our full Roll-DPoS consensus scheme with voting support. IoTeX’s long-term plan focuses on building IoTeX subchains, software development toolkits (SDK), and developer tools, as well as collaborating with IoT companies / developers to build DApps utilizing the IoTeX platform.

foton.jpg

IoTeX's mission is to allow developers to easily create their own robust and useful subchains for their own projects and ecosystems. Subchains are meant to be flexible, meaning they can choose to use their own tokens or the IoTeX token, can be programmed in a variety of programming languages, and can be made permissioned (private) or permissionless (public). If you have ideas or plans with regards to your own subchain or token, please reach out to us - we would love to help you design your own token economy!



Full Team: https://iotex.io/#team

team2.jpg

IoTeX Investors
Actual Roadmap
  • Total Token Supply (fixed): 10,000,000,000 IOTX
  • Private Sale (closed): 25,000 ETH
  • Token Price: 1 IOTX = 0.0000125 ETH (20% bonus for private sale investors, lock-up period: 12 months)
  • Token Contract Address: 0x6fb3e0a217407efff7ca062d46c26e5d60a14d69
1. Private Sale - 24% of total supply
Unlocked gradually after token issuance date throughout 2018-2019:

  • 6% distributed immediately (May 22, 2018)
  • 6% distributed in February 2019
  • 6% distributed in May 2019
  • 6% distributed in November 2019
2. Community Reward Programs - 6% of total supply
Unlocked gradually over the course of 3 years after token issuance date:

  • 2% distributed immediately (May 22, 2018)
  • Remaining tokens unlocked and linearly distributed over the course of 3 years, with quarterly distributions (August 2018, November 2018, February 2019...)
3. Team - 15% of total supply
The detailed unlock schedule start date varies based on each respective employee's join date. We will make announcements in advance whenever a large amount of tokens are about to be released. The first distribution of team tokens will be in February 2019. Vested over the course of 4 years after join date (varies by employee):

  • 6-month cliff
  • Monthly distributions
4. Ecosystem - 30% of total supply
Unlocked gradually over the course of 3 years after token issuance date:

  • Used to bootstrap the IoTeX ecosystem, including strategic partners, sub-chain / DApp developers, and marketing / growth experts
  • 1.5% distributed immediately (May 22, 2018)
  • Remaining tokens unlocked and linearly distributed over the course of 3 years, with quarterly distributions (August 2018, November 2018, February 2019...)
Note: 12% locked / reserved for Roll-DPoS mining, commencing in February 2019 after Mainnet Alpha launch

5. Foundation - 25% of total supply
Unlocked gradually over the course of 3 years after token issuance date:

  • Used to build IoTeX blockchains and related technologies, sustain development of the IoTeX project, support cryptography and blockchain research, and onboard advisors
  • 2.1% distributed immediately (May 22, 2018)
  • Remaining tokens unlocked starting Feb 2019 and linearly distributed over the course of 3 years, with quarterly distributions (February 2019, May 2019, August 2019...)

Please check our former AMAs here:

IoTeX Introduction Thread
IoTeX AMA - June 2018
IoTeX Tech AMA - July 2018
IoTeX General AMA - 7/20/2018
IoTeX General AMA - 8/3/2018
IoTeX General AMA - 8/17/2018
AMA with the Cryptodiffer Team - 03.08.2018
IoTeX Tech AMA — August 31, 2018
IoTeX General AMA — September 14, 2018
IoTeX Tech AMA — September 28, 2018
IoTeX General AMA with Founders - October 12, 2018
IoTeX General AMA — November 9, 2018
IoTeX General AMA — November 23, 2018
IoTeX General AMA — December 21, 2018

IoTeX Livestream AMA with Founders — August 31, 2018
IoTeX Livestream AMA with Founders — October 26, 2018
IoTeX Tech AMA Livestream — December 7, 2018


IoTeX "All-in-One" Resources

Articles:
- Blockchain & IoT: What’s it all about?
- Blockchain’s Role in Today’s Internet of Things (IoT) Landscape
- The Blockchain & IoT Tech Stack


Test-Net & Main-Net info:
IoTeX Testnet Preview (StoneVan) Release
IoTeX Testnet Alpha (Strive) Release
IoTeX Testnet Beta (Epik) Release
IoTeX Mainnet Preview (Photon) Release


ACADEMIC PAPERS:
- WP: IoTeX - A Decentralized Network for Internet of Things Powered by a Privacy-Centric Blockchain by IoTeX team;
- Yellow paper;
- DKSAP-IoT: Faster Dual-key Stealth Address for Blockchain-based Internet of Things Systems (icbc2018–9009) by Dr. Xinxin Fan
"Faster Dual-key Stealth Address for Blockchain-based Internet of Things Systems (icbc2018–9009)" has been accepted and published by one of the world’s most reputable academic blockchain conferences, the 2018 International Conference on Blockchain (ICBC 2018). This paper describes IoTeX’s enhancements to the already state-of-the-art dual-key stealth address protocol (DKSAP), which is used by projects such as Monero. IoTeX’s new protocol (named “DKSAP-IoT”) is an IoT-friendly adaptation of DKSAP, which reduces computational overhead by 50% compared to DKSAP, thereby paving the way for its application to blockchain-based IoT systems.
- PBFT: Scalable Practical Byzantine Fault Tolerance with Short-Lived Signature Schemes
This paper is accepted by CASCON 2018. CASCON is a premier industrial and academic conference for advanced studies in computer science and software engineering sponsored by the IBM Canada Laboratory.





team3.jpg



STAY UPDATED 📡📞🎥
 

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IoTeX Brand Ambassadors Program

For all of us here at IoTeX, community is the most valuable asset and we take into account every interaction and comment seriously. As our technical development continues and our network of partners grows bigger with every day, we would like to invest into our long-term success and expand our community into different regions. As a part of this initiative, we are launching an IoTeX Brand Ambassador Program!

We’re seeking talented people who will represent our project and communicate our technology, innovations and vision locally, internationally or at their universities. This is a exciting and unique opportunity to join a very innovative startup that is building a revolutionary infrastructure for the IoT industry.
ambassadoras.jpg


As an Ambassador, you will get unique access to communicate directly with our team and other Ambassadors and be a part of the project, where you can make an actual impact and invest into the success and growth of IoTeX, as well as receive resources and latest news and updates about the project and lots of other cool things. Among other benefits, you will be able to get access to the latest info/news, beta test new features, get exclusive access to our forum, corporate swag, token incentives and participation in contests and prizes.
🔸 You will represent IoTeX in your local community — attend industry events representing IoTeX and organizing meetups to build local enthusiasm for the project.

🔸 You will get to learn more about our project, technology, goals and community and help to educate and inform general public about the project.

🔸 You will be able to contribute by managing communities, creating content and promotional material across a number of platforms.

🔸 You will proactively and creatively seek out new opportunities for IoTeX to increase project’s awareness (marketing, community, partnerships, developers).

🔸 You will help us to build a strong community of blockchain, crypto and IoT enthusiasts and developers (offline and online).

We are looking for highly motivated, responsible, self-starters, who want to contribute to the future of the distributed and decentralized technology and IoT. You should

🔹Have a good understanding about our project, mission and vision.

🔹Be a great communicator, in order to motivate and inspire the community and public.

🔹Able to choose a role (or a few) that’s suits you the most from the list below
  • Regional Community Managers: Lead and manage local groups using the messaging apps specific to your region.
  • Social Media Representative: Spread awareness of the project by utilizing social media platforms and forums to engage with users.
  • Business Development: Reaching out to potential partners on behalf of the project.
  • Events: Researching & attending conferences and related events as an Ambassador of the project; organizing meetups and educational sessions in your city/region.
  • Content Creators: Creating educational and engaging content (articles, videos, graphics) on various topics related to the project. Preferably someone with technical/blockchain knowledge.
  • Tech/Developers: Review the code, test out new features before they are rolled out, cooperate with tech team on development; write technical articles, tutorials, create and lead a developer community
If any of these roles sound like an opportunity that you would like to pursue, please fill out a quick form and somebody from our team will be in touch for next steps.





alliance.jpg


October 3, 2018, IoTeX announced joining the Trusted IoT Alliance


At the Trusted IoT Alliance summit in San Carlos, CA on September 5th, IoTeX’s Xinxin Fan and Larry Pang delivered a keynote speech on the IoT platform landscape and networked with representatives from the blockchain and IoT communities.
alliance-2.jpg

October 29, 2018 in Singapore on Cisco & EDB Blockchain Summit Qevan Guo (co-founder IoTeX) represented report: «Barriers to Adoption - A Trusted IOT Alliance Perspective»

"We would be glad to work with Cisco, Bosch, Siemens, Samsung and so on who has already well-established in IoT industry, and indeed we are already in talk with some of them, and will start with POCs (Proofs of concepts) and pilots, which will be pushed to production if goes really well" - says Qevan Guo
As teams will be continuing to have more productive meetings and negotiations, IoTeX will be able to propose solutions for enterprise giants such as Cisco, in order to find grounds for collaboration on valuable services create together a service that will contribute, either to create a useful product, or to solve existing problems in their scenarios.
alliance-3.jpg
Therefore, joining the Trusted IoT Alliance opens up great opportunities for demonstrating IoTeX experience, developments and products.
 
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#4
IoTeX is invited to teach a distance learning course "Blockchain Technology and Applications”, as a part of Master of Science program offered by University of Nicosia, the largest university in Cyprus, Europe. Our co-founder Raullen Chain and staff blockchain engineer Zhijie Shen has presented to share the knowledge of blockchains and IoT to students all around the world.
More about the course
More about the program

In May 2014, the University of Nicosia launched a first free, open-ended course of the MOOC (Massive Open Online Course), led by experts in Bitcoin technologies. So, any person from anywhere in the world who wants to learn blockchain technology can take part.
November 2013 the University of Nicosia, the largest independent university in Cyprus and one of the largest English language universities in southern Europe, became the first accredited university in the world to accept bitcoin for tuition payments and to announce the development of a Master of Science Degree in Digital Currency.
“I am delighted to be teaching this course along with my colleagues at the University of Nicosia,” said Andreas Antonopoulos, University of Nicosia Teaching Fellow and a leading bitcoin and digital currency expert and entrepreneur.​
The MOOC will cover technical, legal, economic and regulatory issues related to bitcoin and digital currency and will be offered to students around the world for free.
Digital currency MSc is designed to help financial and business professionals, entrepreneurs, government officials and government administrators better understand the technical basics of digital currency, how it is likely to interact with existing monetary and financial systems and what opportunities exist for innovation in digital currency systems .

The degree is provided online to students all over the world, and the first course in the course “DFIN-511: Introduction to Digital Currencies” is available free of charge as an open MOOC course for everyone who wants to learn more about the fundamental principles of digital currency.
The remaining 8 courses are offered at € 1,600 per course, resulting in a total tuition fee of € 12,800.
The graduate program provides the basis for a doctoral degree.
All students who successfully complete the program receive certificates from UNIC.

In the introductory lesson of Zhijie Shen and Raullen Chain revealed the following topics:
1) introduction to blockchain, 2) architecture of IoTeX, 3) Roll-DPoS,
4) test-net development, 5) privacy (focus on stealth address)




IoTeX Architecture








This particular course has three parts, each 2 weeks long:

  1. theoretical background of blockchain technology,
  2. smart contracts,
  3. use cases.


On 11th November, Zhijie Shen and Raullen Chain will have a live session 21:00-23:00 Singapore time. However IoTeX are flexible of arranging a special, shorter session at your preferred time during 14:00-23:00 Singapore window.





Brand Ambassadors Program
The applications for PHASE 1 of our Brand Ambassadors Program will be closing on Friday, November 9th 10PM PDT

All of the selected candidates for this round, will be contacted by Monday, November 12th and we will advise you of the next steps. In case, if you didn't hear from us, we will save your application for the future rounds and you are always welcome to re-apply.

Thank you for your interest and please stay tuned for more information!


General AMA

Ask us anything about IoTeX here from 11:00 AM PST to 1:00 PM PST on November 9, 2018!
19:00 (GMT) - 21:00 (GMT) 09.11.2018

Location: Reddit

“Most Thoughtful Questions” Bonus: 300 points (Up to 10 people, chosen by the IoTeX team)

Points will be distributed no later than November 14.
We don’t give bonus points for repeated questions. Please check our former AMAs:
  1. Subscribe to the IoTeX subreddit r/IoTeX
  2. Visit the pinned “IoTeX Tech AMA — November 9, 2018” post in the r/IoTeX subreddit on November 9, 2018 between 11:00 AM — 1:00 PM PST. We will also post a link in the official IoTeX Telegram group when the campaign starts. *Note: We will only accept questions submitted within the official AMA timeframe announced here.
  3. Ask us a question and include your unique IoTeX Hash ID (PM@IoTeXBountyBot and enter /hashid, or follow the instructions here) — we will only give points for new questions (no duplicate questions)!
  4. We will answer the questions one by one in Reddit. If you have follow-up questions, please feel free to comment on our reply!
  5. We will also select the most thoughtful questions and give additional bonus points.
  6. We will transcribe the AMA and post the list of questions and answers to our Telegram group.

 

LEO

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#6
1_KiqRQhqZa4DrXjjUGmIbpQ.png

Technical Development in the last 1.5 months
  • Launch of Mainnet preview is right on track, e.g., subchain management and cross-chain communication has been implemented, security and reliability of Roll-DPoS has been improved and developer SDK and its doc are close to being done.
  • IoTeX Network Explorer has been fully open sourced on GitHub! Working with iotex-core, this repo allows everyone to connect the existing node/port to a self-built Explorer and monitor blockchain activities at the front end!


Since launching our Testnet Beta “Epik” release, we have been using Kubernetes to deploy and optimize our Testnet infrastructure. We wanted to share our experience and guide you on how to run your own containerized applications and environments on Kubernetes.

More details

PS
You can connect your host or port to a self-configured Explorer and watch the blockchain in real time.

 

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#7
foton.jpg

Today, we are proud to launch our fourth code release — Mainnet Preview “Photon” — which includes exciting new features that preview our full-feature Mainnet Alpha launch in Q1 2019:

  • Sub-chain provisioning: support of two independent blockchains (root chain, sub-chain), running on separate databases in the IoTeX network
  • Cross-chain communication: ability to transfer value from root chain to sub-chain, with IoTeX Wallet support across both chains
  • Consensus enhancements: performance enhancements to Roll-DPoS (1,000+ TPS & 100+ node tests), and new security improvements
  • IoTeX Explorer v2.0: separate IoTeX Explorer pages to visualize both root chain and sub-chain activities
  • And much more!
You can see the open source code on our Github now.

Finally, we have rigorously tested the IoTeX Testnet and have achieved 1,000+ TPS (with instant finality) and successfully deployed 100+ nodes using Kubernetes.
For the full list of features and incremental comparison between StoneVan, Strive, Epik and Photon please see the table below:


0_wIj7mNs68AOZ-Q18.png

1_UK9lYpzMd6iLNd5EXqWldQ.png

Photon is named after Kenneth Thompson (Photon is composed of letters from “Thompson”), following the trend of naming IoTeX’s code releases after pioneers of computer science. Earlier this month, we gave our community the chance to propose and vote for the Mainnet Preview codename. We received over 12,600 submissions and out of five finalists, Photon was the unanimous winner with 27% of total votes. Thanks to all who participated! We will announce the full winner list soon tomorrow!



Kenneth Thompson is an American computer science pioneer. He is best known for inventing several programming languages (e.g., Go, B) and operating systems (e.g., Unix) and received the Turing Award in 1983. As you may know, the IoTeX blockchain is coded in Go (co-invented by Thompson) — naming this release “Photon” is a tribute to Thompson’s work, which provides the building blocks for IoTeX to innovate today.


In Photon, we preview some new technological concepts that will be fully deployed in our Mainnet Alpha release in Q1 2019. IoTeX’s goal is to create a blockchain that can support all types of Internet of Things (IoT) use cases — smart cities, supply chain, wearables, autonomous vehicles, and more. Although they share common requirements (i.e., scalability, privacy, IoT device support), each use case is unique and requires a tailored approach to optimize performance and security. To accommodate this diversity, IoTeX’s utilizes a root chain / sub-chains architecture that will allow developers to create custom sub-chains using the design that best suits their DApps. Applications will seamlessly exchange value / data with other applications via cross-chain communication. This is our vision for the future of IoT — a vibrant ecosystem of fit-for-purpose and interoperable sub-chains powered by IoTeX.

Over the past two months, we have developed several in-house innovations which bring us closer to our vision for the future of IoT. The core features of Photon, which we detail in the following sections, include sub-chain provisioning, cross-chain communication, consensus (Roll-DPoS) enhancements, and IoTeX Explorer v2.0. Through exhaustive code reviews / “quality weeks”, we have greatly enhanced the stability of our smart contracts, wallet, and existing code base.

In Photon, we introduce our FIRST root chain / sub-chain pair, which are separate, homogeneous blockchains running on separate databases.
The root chain / sub-chain architecture is a core part of IoTeX’s blockchain design, allowing any user to create their own sub-chains with the architecture, programming language, and even consensus mechanism that best suits its purpose. For example, a privacy-focused sub-chain would benefit from a Mimblewimble architecture, while a sub-chain requiring higher throughput may utilize bigger blocks. Not only do sub-chains add flexibility for developers, but they also add scalability. You can think of sub-chains as separate blockchains running in parallel, where activity on one sub-chain does not affect throughput on other sub-chains. Their states (i.e., history of transactions) are periodically synced to the root chain, which records the state of the entire IoTeX network. With the ability to add unlimited sub-chains, the IoTeX network is practically infinitely scalable.
In Photon, we introduce our FIRST root chain / sub-chain pair, which are separate, homogeneous blockchains running on separate databases. They share some P2P networks but are otherwise independent, meaning transactions on the root chain and sub-chain are logged on separate ledgers and each will produce blocks in parallel. While sub-chains are flexible and customizable, the root chain is more rigid and performs specific roles. In the IoTeX network, one of the roles of the root chain is to record the state of each sub-chain at various points in time (blocks), which is detailed in the following diagram.


Every block of a sub-chain contains various types of transactions, including token / data transfers and smart contract executions. As with every blockchain, a block is produced and verified (“mined”) after the max block gas limit is reached. In addition, the digest of transactions of the sub-chain is recorded on the root chain for every new block created. This is accomplished by reporting a hash root (aka Hash ID in the diagram above) of the Merkle tree of transactions every time a sub-chain block is mined; put simply, a Merkle tree is a hierarchical representation of the history of a blockchain’s transactions at a certain point in time. Every new block will have a unique Merkle tree and therefore a unique Hash ID, which is sent to the root chain as a proof of what happened on the sub-chain since the last block.
Root chain transactions consist of votes for delegates, cross-chain transfers of value / data (described in the next section), and Hash IDs of various sub-chain blocks, which represent snapshots of transaction history of all sub-chains in the IoTeX network. As shown in the figure above, Block 3 of the root chain contains several cross-chain transactions (i.e., Hash ID (cross-chain)) as well as the Hash IDs of several sub-chain blocks (i.e., A, B, C, X-2, X-3). “X-2” is the state of sub-chain X-2 after its second block, “X-3” is the state of the sub-chain after its third block, and the state of sub-chains A, B, and C are also recorded. Depending on the amount of transactions generated on a sub-chain (i.e., the rate at which it produces new blocks), multiple Hash IDs of sub-chain blocks can be stored in the same root chain block.
The end result is massive scalability. With a normal blockchain architecture, all of sub-chain X’s transactions would be stored individually on the root chain. With IoTeX’s architecture, we can effectively store an entire sub-chain block as a single transaction on the root chain, enabling “100-to-1” scalability. With the ability to add unlimited number of parallel processing sub-chains, the IoTeX network will be able to support billions of IoT devices in the future.
1542552967949.png

Cross-chain Communication (CCC)
For our Photon release, we preview some of these building blocks:
  • Token deposits from root chain to sub-chain: transfer EIOTX tokens between independent blockchains (i.e., root chain and sub-chain) via an Explorer API call
  • Upgraded IoTeX Wallet: utilize a single wallet for both root chain and sub-chain (i.e., different account addresses, same private key), with separate token balances

Creating a sub-chain wallet


Record your sub-chain wallet public key


You can preview these features and test the deposit function in the new IoTeX Wallet now. Step-by-step instructions to create your own root chain and sub-chain wallet are provided above, and you can find a demo in our Photon overview video. In the coming weeks, we will launch several community reward programs to allow our community to further test this functionality and explore our root chain / sub-chains architecture.
Roll-DPoS Consensus Upgrades

On the performance side, we reduced block production time (i.e., latency) by 30% from 10 to 7 seconds.
On the security side, we implemented distributed key generation, a major security improvement to dual key generation that was implemented in Testnet Beta “Epik”.
In a staging environment, we were able to achieve some amazing results — more than 1,000 TPS, 1 second latency, and support of 100 delegates. By the time of our Mainnet Alpha launch in Q1 2019, we expect to achieve our current peak performance results with full stability.


Some exciting things to look out for over the next few months include:
  • Development of new features, including privacy-enabled sub-chains and hardware
  • Software development kits (SDKs) and documentation to start a Testnet node
  • Fully open Testnet, where users can validate transactions, build decentralized applications (DApps), and explore the IoTeX network first-hand
  • Block Producer (BP) Election Program details will be shared
  • Bug bounties targeted at hackers / developers
  • Research papers on sub-chains, cross-chain communication, and Roll-DPoS
  • Community rewards programs to test features and promote IoTeX
  • Proofs of concept and demos showcasing IoTeX in action
  • And more…
Code Contributions — We Want Your Help!
The iotex-core project is open source and licensed under the Apache License 2.0. Contributions to help IoTeX reach its full potential (e.g., style/bug fixes, feature recommendations, proposals for schemes/algorithms, documentation help) are all welcomed and greatly appreciated. For code contributions, please refer to our Contribution Guidelines for more information. To report issues, please file an issue on our Github page.
 

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#8
Happy Thanksgiving!

Dear IoTeX community,

As we enter the holiday season, it is a great time to reflect on this past year, share moments with our loved ones, and thank the people who have helped us on our journey so far. It's been an amazing and successful year for IoTeX - raising our private sale, listing on global exchanges, launching four code releases with game-changing innovations, and growing our team to 25+ all-stars. It has truly been a year of building, and we have enjoyed sharing our progress with you.


The most exciting part is the best is yet to come. The next few months will be action-packed, and we are a few months away from our Mainnet Alpha launch. We are excited to launch new developments we have shared on our roadmap, as well as some amazing things we have been working on behind the scenes. The future is bright for IoTeX, and we are committed to transforming the blockchain & IoT industries in 2019 and beyond.

All of this is made possible by our amazing and passionate team and community - the pioneers who believed in our vision, values, and technology. We appreciate your help, support, and belief in IoTeX. This holiday season, everyone here at IoTeX wants to thank you for being the incredible family that motivates us to work hard and endure the long nights. We extend our best wishes to your families and loved ones -Happy Thanksgiving!


Best Regards,
The IoTeX Team
 

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#9
ita.jpg


IoTeX Blockchain: Interview to Simone Romano

Recently I was interviewed by Fabrizio, an Italian software developer and blogger, about the IoTeX Blockchain. I’m publishing here the English translation of the interview, you can find the original Italian interview on the Fabrizio’s blog: https://fabryprog.blogspot.com/2018/11/iotex-intervista-simone-romano.html

Hi Simone, please introduce yourself a bit: who are you, what do you do?
Hello Fabrizio, and thank you for your interest in the IoTeX project! I am 41 years old, and have always been passionate about computer technology. I graduated in Computer Engineering specializing in Automation and Industrial Robotics, then my professional career followed a more “industrial” path that IT, though in a very innovative sector. For the latest 10 years, I have been working at my own small company where I design advanced automatic machines, which perform quality control on 100% of the products in a producion line. In short, I provide manufacturing companies with machines equipped with digital cameras and image processing software: those machines “inspect” and “evaluate” all the pieces that are produced, rejecting those which do not comply with the specifications. In the same field I also own several industrial patents, both Italian and international.

How did you approach the blockchain and IoTeX world?
Since I deal more with automation than IT, I came to know about this technology quite late: only at the end of 2017, when it was newrly impossible not to hear about blockchain! Since then the blockchain captured me: I began studying whitepapers, and reading source code. A few months later, in April 2018, one person asked me for a technical opinion about this new project dedicated to the Internet of Things, IoTeX. After a few days spent in the IoTeX official Telegram group I immediately realized that was something “different”, not only because the technological solution they proposed seemed perfect for the IoT, but above all for the professionalism, accuracy, and the strong academic footprint of the team.

These functions are critical to build networks of autonomously coordinated heretogeneous devices, and they cannot be natively implemented in IOTA, because it lacks the concept of global consensus. For example, privacy and smart contracts in IOTA will probably be developed as second level solutions (e.g. QUBIC, MAM): this means that they are applications, or SDKs, which make use of the IOTA ledger, but that are not imposed by a decentralized and unchanging consent mechanism. In one case (MAM), the problem of user privacy is not solved (the data of the users remain in the hands of the device manufacturers who can still decide not to use MAM, or do not have the knowledge to use it, moreover does not hide the sender/receiver identity, only encrypts the data sent). In the other case (QUBIC) the security and features of smart contracts that are supposed to be provided are still to be verified.
Simone Romano
There will be a time when a partnership with these multinationals will make sense, but to get there IoTeX needs lean partners first, those who share the same vision and the same timing, creating working prototypes that show a real functional value quickly.
Simone Romano

In addition, with the recent release of the IoTeX Explorer source code, with the imminent arrival of the Alpha Mainnet, and SDKs, I would like to invite interested developers to test it and start building applications on IoTeX right now. I would also like to form a community of developers: every idea and contribution is welcome — you can contact me directly on the Italian IoTeX group , where everyone is invited to join!

Full Interview - Blog


IoTeX Roll Dice Campaign III — Photon

The campaign will start from 12/03/2018 5:00 PM PST to 12/07/2018 5:00 PM PST. Detailed instructions will be updated here when the campaign starts. Please note that this is not a first-come-first-serve campaign. Please take your time to participate!

Hints to Win

More - here
 

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#10
The IoTeX Testnet, SDKs & Dev Docs now Open to the Community!
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We are excited to announce that the IoTeX Testnet is fully open to the community! Using our new software development kits (SDKs) and step-by-step developer documentation, anyone can easily start their own Testnet node, run transactions, deploy DApps, and much more. We can’t wait to see the great things you will build!

IoTeX Open Testnet — Phase I & II
Our Mainnet Alpha launch (scheduled for Q1 2019) will be the formal launch of the IoTeX Mainnet. To prepare for this major milestone, we are opening our Testnet to the public as the first stage of our gated launch process. The purpose of Open Testnet is to familiarize developers with the IoTeX platform and improve the operational aspects of our blockchain in preparation for our Mainnet launch. The Open Testnet consists of two phases:


Phase I (starting today): Community-operated Full Nodes
In the first Open Testnet phase, we will allow anyone to create a full node in the IoTeX testnet:
  • Setup and run a full node via a gateway
  • Generate transactions (i.e., transfers, smart contract executions, votes)
  • Build DApps on the IoTeX Network
  • Monitor blockchain activity and explore the network
Phase II (starting Jan 2019): Community-operated Full Nodes and Block Producers
Starting in Jan 2019, we will enable block producers to produce and verify blocks on the IoTeX Testnet. During this time, we will also disclose block producer (i.e., supernode) and staking requirements, as well as introduce the first group of block producer candidates. After Mainnet Alpha is launched, we will incrementally add more block producers and scale the network throughout 2019 to ensure the stability and security of the network.

How To Participate In Open Testnet Phase I? - Open Testnet

Documentation

The Blockchain & IoT Tech Stack
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In our last blog Blockchain’s Role in Today’s IoT Landscape, we explained how blockchain will revitalize innovation in the IoT industry and unlock new capabilities. Now, let’s take a deep dive into the multiple layers of the Blockchain & IoT tech stack and describe how these layers ultimately come together to form end-to-end IoT solutions!
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IoTeX Roll Dice Campaign III — Photon

Our 🎲Roll Dice Campaign🎲 has finished!

IoTeX Tech AMA Livestream — December 7, 2018
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Thank you for those who joined our tech AMA and livestream session on December 7th! We had a great time answering your tech related questions and talking about our technical progress so far and we would like to provide a brief summary for those of you who weren’t able to join, as well as, below you will find the questions that were chosen by the team and qualified for bonus points.

Built in Privacy
A short video explaining the the benefits of built-in privacy feature provided by the IoTeX Blockchain
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#11
Past Events & Conferences

December 3–6— RISC-V Summit in Santa Clara
Our Head of Cryptography, Dr. Xinxin Fan attended this conference and got insights on Commercial & Open-Source Implementations, Software & Silicon, Vectors & Security, Applications and Accelerators, Simulation Infrastructure and much more with the industry leaders!

December 9–11— World Digital Asset Summit (“WDAS”) in San Francisco
Invited by New Do Venture, our co-founder Raullen attended WDAS 2018 hosted by IoT block, as the guest speaker at the Investor & Founder Panel discussing “Sharing Economy: A Testbed for Blockchain, IoT and Decentralized Governance” along with Origin protocol and Bee Token.

How To create a full testnet node
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Quick guide on setting up a Testnet node from our community supporter Fabrizio

INTRODUCTION
Hello everyone, last week developers team publicated IoTeX testnet, it is an IoT centred blockchain.

Unlike other blockchains, a full node IoTeX can be install into lowenergy devices (raspberry). Now its database is 1.6 GB large

This guide help you to deploy a testnet node
REQUIREMENTS
The iotex-core is packaged into a docker image. So you must have docker into your 64bit system.

Official installation guide links:

After that you must install docker compose tool
INSTALLATION
I create a github repository to deploy a full node quickly.

Below a sequence of commands:
  1. repository download
  2. copy the file config.template.yml into config.yml
  3. edit the file config.yml. You must put your public IP
  4. execute start command
    • docker-compose up -d
Use follow command to show the application log

docker logs iotext_iotex-core_1

(log example)



IOTEXT EXPLORER
In addition to iotex-core software i put another official software: iotex-explorer

To open your iotex-explorer, open your preferite browser to address

http://PUBLIC IP ADDRESS:4004/




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#12
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IoTeX is proud to join China Mobile IoT Alliance, a joint union of technology companies and enterprises focused on bringing frontier technology, products and solutions to the IoT industry! China Mobile is the largest mobile telecom corporation and the world’s largest mobile phone operator. As the first and only blockchain company which was invited to join the alliance, IoTeX will focus on bridging the blockchain technology with real world use cases.


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IoTeX will sponsor and partner with the University of Cincinnati to build a joint research and development laboratory, which will focus on privacy-preserving cryptography research and blockchain applications. As a privacy-centric blockchain, IoTeX has developed innovative blockchain privacy protocols (DKSAP-IoT) and will work with University of Cincinnati researchers and professors to further drive cutting-edge blockchain privacy research.

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Starting December 16 of IoTeX News Digest YouTube Campaign
It is planned as a permanent company that will start every Sunday.
Hello our dear community! For those of you, who have been following us for sometime, you know that we like to regularly keep you updated on the progress of our project and share the latest news. We regularly send out newsletters, monthly project update reports and share news and announcements daily on our Telegram channels, Twitter, and also through the weekly News Digest videos on our YouTube channel. In order for these videos to be even more interesting and valuable to our supporters, we would like to introduce a campaign series around it — meet the IoTeX News Digest YouTube Campaign! 🎉

Since our News Digest videos come out weekly on Sundays, this is when this campaign will take place as well. We hope you will find this campaign interesting and fun to participate in! Enjoy!

Campaign Period
⏰ December 30, 3AM PST — January 1, 3AM PST

Steps to participate:
  1. Join our Telegram Group and Telegram Announcement Channel
  2. Please provide your feedback/suggestions or holiday wishes in a comment under the video
  3. Complete this form
Rewards
To qualify for rewards, you must complete all the steps listed in the instructions. We will increase the amount of winners based on the participation rate. Please help to spread the word about IoTeX and help us to build a true Global Community💙

🎈Number of participants ≤20 — we will randomly select up to 3 winners that will receive 200 IOTX each

🎈21≤ Number of participants ≤50 — we will randomly select up to 5 winners that will receive 200 IOTX each

🎈51≤ Number of participants ≤100 — we will randomly select up to 10 winners that will receive 300 IOTX each

🎈101≤ Number of participants ≤300 — we will randomly select up to 20 winners that will receive 300 IOTX each

Please note that one person can only participate once in this campaign and we do not allow multiple submissions/accounts.

🎁Bonus🎁
As a holiday gift from our team, you will have a chance to receive an exclusive gift — IoTeX hoodie that will keep you warm this winter! We will randomly select the winners based on the number of this video’s views:

100 ≤ News Digest EP 23 ≤ 300 views — 1 winner will receive a hoodie

301 News Digest EP 23 ≤ 500 views — 3 winners will receive a hoodie

501 News Digest EP 23 ≤ 1,000 views — 5 winners will receive a hoodie

*Please note, one participant can either win IOTX or a hoodie.

*We will announce and contact the winners by January 5.

As a holiday gift from our team, you will have a chance to receive an exclusive gift — IoTeX hoodie that will keep you warm this winter!



GENERAL AMA - December 21, 2018

Most Thoughtful Questions
Q1: Lately I’ve noticed that there are many superb tech events to which IoTeX is the only blockchain project to be invited back-to-back latest being China Mobile IoT Alliance. That is very huge and may be overlooked by many as being the first and only means huge advantage in competition. How exactly does IoTeX continue to deliver on these things periodically in respects to as much as CAN be said?

A: Thank you! We are very honored to be the first and only “blockchain” company to join the China Mobile IoT Alliance. Our contributions will follow two directions. 1) contribute to technical and academic expertise and resources 2) More importantly, we will work with the other alliance member for real proof and concept, use cases, and commercialization of the blockchain for the Internet of Things industry. This alliance has members covering various IoT verticles and they are all very valuable resources and potential partners of us. During the quarterly meeting, we will sit down with the members and discuss the practical ways to target specific use case scenarios and and the real-life solution. It may take a lot of efforts but we will lead the blockchain application side to push the development progress.

Q2: Will IoTeX Blockchain support human readable accounts beside addresses like for EOS? And do you expect IoTeX blocktime could be as fast as 0.5 seconds?

A: On the root chain, we plan to use the raw address derived from EC private keys. Human readable account and account management is a platform-level feature, not an infra-level feature, that can be easily implemented at contract level (btw, IoTeX will come with some native contracts). For example, Ethereum has ENS which is, tho not as popular as, similar to EOS’s account management. The problem of natively integrating an account scheme into the blockchain is the sacrifice of extensibility — I believe different account schemes would be needed for different scenarios/applications.

In terms of the blocktime, I’d against to have it as small as 0.5sec for two reasons. 1. A normal RTT for a request/response over the internet is >500msec; producing a block within 0.5sec basically means the BPs need to be directly connected over a private or semi-private network, which introduces lots of concerns about centralization which IoTeX wants to avoid; 2. Producing block too fast introduces security risks such as EOS got attack few days ago. If we really want to make it fast, we need a subchain, e.g., in the form of a plasma chain, that could be a bit centralized but collateralized enough stake for users to build trust upon. Definitely being fast is not the priority for the root chain; safety and reliability are.

Q3: Hi, I started study IoTeX recently and so I wanted to study the Go source code (iotex-core). I found that it includes 2 closed source components (libsect283k1 and libtblsmnt) and that, currently, they are only builds for ubuntu (x86_64) and Mac OS X. Analyzing the first one I see that it calls functions like blake256_hash, ECDSA_sign, schnorr_verify so it seems it’s related to signature handling. Did you planed to release the source code of that components (so “paranoids” can be sure there are no cryptographic backdoors)? If yes, when?

A: The two crypto libraries handle the cryptographic protocols used in the IoTeX blockchain. The source codes of those libraries are being reviewed and improved internally at this moment and will be released early next year before the mainnet launch.

Q4: Will the team be able to handle the large scale of IoT really? We’re talking what could be millions of devices, are you guys taking into account like network overhead and bandwidth requirements for nodes fully?

A: Yes — we are committed to creating a protocol and environment that can support the entirety of the IoT industry. Unlike other blockchain platforms / protocols that are designing for general purpose use cases or other specific use cases (e.g., finance), we have made upfront design decisions for our blockchain to tailor fit it for IoT. We use lightweight cryptography to reduce the footprint / storage requirements for IoT devices (e.g., gateways / routers that connect to smaller sensors) running our blockchain protocol. We built our in-house Roll-DPoS consensus mechanism because DPoS is the most scalable consensus scheme right now. And we have a sub-chains architecture that allows for “separation of duties” — in other words, each sub-chain performs specific functions which do not affect the performance of other sub-chains. These are all design decisions that come together to fulfill the requirements of global IoT.

One misconception is that ALL data from IoT devices will need to be stored on the blockchain. IoT devices today are getting smarter and smarter — they are able to process data locally (e.g., data validation, light analytics) to reduce the amount of data that must be sent to the Cloud / blockchain. This is called edge / fog computing. When paired with blockchain, this allows for the most critical data (i.e., results of analysis, state change data) to be stored on the blockchain, while other data is processed outside of the blockchain.

Q5: A Kondratieff Wave is a long-term economic cycle believed to result from technological innovation and produce a long period of prosperity. For example before the invention of the internet there was an economy downcycle and it is believed that inventions in Information technologies spurred the rally up for few decades and economy of the world was growing at a fast pace and 30 years from then economy collapsed during the 2008 crisis. After that shortly bitcoin and blockchain was introduced to the world. What do you think: is it coincidence or blockchain and in that regard IoTeX as well will be the next stepping stone marking the beginning of the new Kondratieff Wave and bloom of world economy?

A: Very interesting question — this is something that we think about a lot. The world is changing extremely quickly — in developed countries, we are seeing the start of the “third industrial revolution” that is transforming how we power our society (i.e., renewables vs. fossil fuels), communicate (i.e., digital / social), and consume (i.e., [blank]-as-a-service). In non-developed countries, mobile-based technology is emerging and “leapfrogging” the traditional banking systems (check out M-PESA from Kenya). The theme in both developed and non-developed countries is transparency, automation, and trust — this is where blockchain will shine. Blockchain will create entirely new engagement models across several industries — we are already seeing it in the financial space, and we believe 2019 will be the year when blockchain & IoT really skyrockets.

Q6: Hi! Have you ever thought about creating your physical IoT device, thanks to which it would be easier to introduce the IoTeX blockchain into our lives? If so, tell us about it! If not-it’s time to think about it)

Merry Christmas and Happy New year!

A: Yes — this is something that we are working on (cannot share too much on this topic), but what we can share is we want to bring blockchain & IoT to everyone — hobbyists, professional developers, and enterprises. To do that, we must make hardware development / prototyping kits available to the masses, that can help anyone get started with their own IoT implementations. Already sharing a little too much here, but stay tuned ;)

Q7: Quite an interesting thing is that financial market strength of Iotex is correlating with resillience of the network because if price of Iotex token appreciates it starts to get more economically inefficient to attack the network and this perfectly alligns with Iotex investors’ reachabilities. What are the plans of the team to achieve this parallel goal not from the technological point of view?

A: You mention a very important point about blockchain protocols — the more “stake” in the network, the more resilient the network is due to removing the “nothing at risk” concern. Much of this is actually enabled by choices in the design of a consensus mechanism. By this, we don’t mean simply choosing DPoS or PoS or PoW, but even more granular, such as determining who is elected to produce blocks (i.e., voting in DPoS), what the rewards are for producing blocks, and . We aim to balance fairness so that block production is not centralized (i.e., Pareto distribution, 80/20 rule) as well as incentivizing block producers to continue to stake tokens. Along these lines, we have been designing and testing our consensus mechanism at an extremely detailed level, as well as observing other projects’ design decisions (especially other DPoS and PoS projects). We see many flaws in the balance of power in other projects (see example: https://cryptogo.de/en/lisk-the-mafia-blockchain/),and will make sure that our protocol is fair to investors, block producers, DApp developers, and users. Stay tuned for more announcements on our process!

Q8: Lately you have become part of the IoT Alliance mobile china. It is very nice to see how much this project is gaining importance in the Blockchain and IoT fields. Those who follow the telegram groups regarding cryptocurrencies know that IoTeX is a name that lately appears more and more frequently in chats all over the world. For this reason, I ask you if you intend to take advantage of the moment favorable to you and increase your marketing investments or do you prefer to focus on product development? In your plans there is also the idea of proposing a listing at some Exchange?

Not all the world’s population has enough money to buy IoT products. Are you planning to do something to bring technology to even the least developed countries?

A: Great question! Under the current market, we are sad to witness that some projects have left us or have fewer updates about the development progress. There are many reasons we don’t know behind the scene. As our early supporters know, we have a very detailed and ambitious roadmap and we always deliver on or ahead of time to keep pushing our progress to move forward step by step. Financially, we have also reserved enough fundings for the future 3–4 years development. It is a great time for us to do some precipitation (improving and revising the current code we have) and focus on our use case/DApp/product development and real partnership along with our coming Mainnet Alpha stage. In our opinion, the marketing investments will perform better when we have actual progress.

As for the “buying IoT products” — we can see it at a higher level. The IoT devices can be not limited to the general smart home, wearables, smart cars… It can also be smart machines in various verticals such as logistics, agriculture, energy, off-site verification system, etc. As an end user, we may not have the chance to see and use them directly, but they are largely used by corporations and ultimately benefit our everyday life. And these machines will also be widely used in those less developed countries. Many of our partnerships focus on this side.

Q9: Do you have future plans to change from Roll DdPos to yet another type of dPos?

A: You should think about DPoS as a family of consensus mechanisms — all DPoS schemes are similar, in that a voted committee of delegates produces and validates blocks, but apart from that most DPoS schemes are very different. For example, EOS uses a concept called “approval voting”, where any token holder is able to vote for 30 validators. If the token holder has 100 EOS, then all 30 of the BPs will get 100 votes (not 100 divided by 30). From our point of view, this is a recipe for collusion, as the top 21 token holders can all vote for each other 21 times and block out other potential BPs. IoTeX (and other DPoS schemes like Tron) do not use approval voting. This is just one example of the nuances of DPoS and consensus mechanisms in general.

Like other projects, we will be bootstrapping our network when our Mainnet launches, and will make adjustments to our consensus mechanism throughout 2019 to optimize performance and fairness. We will be unveiling the full details of our block producer requirements (e.g., HW/SW, ops, stake), block rewards, voting process, etc. in the near future.

Q10: do you think your technology will significantly improve carsharing, which is now gaining momentum. will you be able to improve this market and bring your technologies and ideas to it?

I read your news, tell in more detail about technology of the intellectual parking which allows operators of the parking remotely and to automatically keep track of employment rate of the parking in real time? whether you have competitors in this direction?

A: The Auto industry is a huge opportunity for blockchain & IoT. As more and more software is being put into cars (e.g., Tesla now has over-the-air automatic updates for their cars), the data gathered from cars as well as the data sent to cars must be fully protected. This is a huge deal — Elon Musk often says the biggest risk to Tesla is if someone is able to deploy an OTA update to the entire fleet of Tesla vehicles, which could take over control of cars. Blockchain will play a very important role in gathering trusted and shareable consumer data from vehicles (for use in insurance / compliance and data marketplaces) and also how cars consume new information.

A parking / smart city solution would utilize a combination of IoT and blockchain technologies. On the IoT side, RFID/NFC technology will likely be used to have cars communicate with infrastructure (e.g., parking meters), while blockchain will be used to create a foundation of trust between drivers and the city. Once this foundation of trust is established, multiple parties will be able to transact in a trusted way. This will lead to automation opportunities, such as fully automated “park and pay”.

Q11. In the future when Iotex will be the underlying base for vast number of devices how would the network/devices be affected in case of soft or hard fork if the system will need an update? Would the problems be hard to bypass with potential software transition?

The way that IoT devices integrate with the IoTeX blockchain is as follows: full nodes will be run on full-power devices (e.g., normal computers, IoT gateways / routers), and light clients will be run on smaller resource-constrained devices (e.g., sensors). These light nodes will not participate in consensus (due to their lack of compute resources), but given sufficient storage resources they will be synced with a full node (i.e., the gateway it passes data to) and periodically download the latest state of the blockchain. Given a fork, the latest state of the blockchain will be pushed to full nodes, and light nodes will be automatically synced.


Dear IoTeX community,
The time has come to remember what we have experienced together in the past year, to share our moments with our loved ones and thank the people who helped us on our journey. In which we gladly shared with you our successes. It was an amazing and successful year for IoTeX.

All this was made possible thanks to our amazing and passionate team and community - followers who believed in our vision, values and technology. We also want to thank each of you for your continued support and faith in our vision! IoTeX has a bright future, and we strive to transform the blockchain and IoT industries in 2019 and in the future. The next 2019 will be very important for us and our community, and as always we will share our successes and news with you.

We express our best wishes to your families and loved ones - Happy New Year!
 
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#13
IoTeX Announces Block Producer Requirements

Hello IoTeX community! 2018 has been an eventful year for IoTeX — we built an amazing global community, developed the IoTeX root chain from scratch, listed the IOTX token on top-tier exchanges, aligned with innovative strategic partners, and much more. As we reflect on these milestones, we are also meticulously planning for the journey ahead. IoTeX’s next frontier will be the official kickoff of our Block Producers Program and launch of MainnetAlpha in Q1 2019. In this post, we introduce our guiding principles for designing IoTeX’s governance and crypto-economics, the role of IoTeX block producers, and the initial requirements to become a block producer.

Guiding Principles for IoTeX
The IoTeX Mainnet utilizes the Roll-DPoS consensus mechanism, a more democratic version of delegated proof of stake (DPoS) with high throughput, instant finality and high resilience to network attacks. Within the IoTeX network, a committee of “block producers” are elected by token holders using a randomization algorithm to maintain the network. We strongly believe that IoTeX block producers must be deeply rooted in our community and should be passionate and experienced enough to make our decentralized ecosystem a fair and prosperous place. To this end, we use “PEGS” as our guiding principle for the design of our block producer election process and overall network governance:
  • Participation and inclusivity: mechanisms will be built-in to the voting / staking process to ensure power is not centralized to a few “big player” block producers; in other words, our process will aim to prevent collusion and the formation of “cartels”.
  • Evolution driven by all stakeholders: IoTeX block producers will be responsible for producing / validating new blocks and will be rewarded appropriately. In addition, block producers, together with all token holders and network contributors, will participate in network governance to make sure that IoTeX evolves with fairness and decentralization.
  • Growth as a form of stake: block producers should not only consist of stakeholders with large token holdings but also those that contribute to the growth of IoTeX in other meaningful ways (e.g., community engagement, project awareness, network traffic, referrals, development of useful features and tools), especially during the initial bootstrapping phase.
  • Sustainability in all circumstances: Instead of relying on inflation of native tokens, IoTeX employs a rewards scheme that is fair to block producers regardless of the market environment. Block producers will always be able to cover their hardware and maintenance costs.
Why Roll-DPoS?
Fundamentally different from proof of work (PoW) and proof of stake (PoS) schemes, Roll-DPoS allows for massive scalability while maintaining high decentralization. In Roll-DPoS, token holders take into account computational resources, tokens staked, and several other factors (e.g., contributions, reputation, network activity) when voting for the block producers of their choice. Potential block producers are rank-ordered by the amount of votes they receive, and a pool of top vote-getters (“candidates”) are deemed eligible to join the committee of block producers for the current epoch — this is what we call the “ranking scheme”.
From this pool of candidates, multiple sub-committees of block producers are randomly selected by the randomization algorithm to become block producers for the IoTeX root chain and various sub-chains. After every epoch, new sub-committees of candidates are randomly selected for block production. After being selected to a sub-committee, the primary role of an IoTeX block producer is to produce and verify blocks in exchange for rewards paid in IoTeX tokens — this is what we call the “rewarding scheme”. For more details, please see the Roll-DPoS yellow paper and this high-level video overview.

With our high quality implementation, Roll-DPoS provides the following benefits:
  1. A new block is produced every ~7 sec for great scalability (~3,000 TPS for each root chain and sub-chain on Testnet); block sync is fast and reliable.
  2. Committees responsible for “mining” the root chain and each sub-chain are randomly selected; within each committee, the order for block production is also randomized, providing high resilience to oligopolies / cartels, attacks, and network blips.
  3. Distinct committees are responsible for different/heterogeneous blockchains (note: this is one form of sharding). This minimizes network/computation/storage overhead for block producers. In other words, a block producer can choose to produce blocks for the blockchain that provides the highest ROI (currently the root chain) without needing to store data / maintain another blockchain it doesn’t care about.
We will share comprehensive details on the ranking scheme and the rewarding scheme in two separate blog posts soon.

Block Producer Requirements
As block production and verification in the IoTeX network is managed exclusively by a pool of block producers, it is crucial that all candidates meet specific hardware, software, and operational requirements. These minimum requirements are set based on the fact that “the network is only as strong as the weakest block producer”, and are necessary to maintain full security and high performance of the IoTeX blockchain:


Hardware
  • Server and backup server running IoTeX software (both with firewall)
  • Memory: 16GB of RAM
  • Local storage: 4TB
  • CPU: 64-bit
  • Processor: 8 cores, 2.4 GHz each
  • Network: 100Mbps
Software
  • Linux: Debian Stretch (9)
  • Go-lang: 1.10.x
  • Monitoring & alerting tools (feel free to DIY)
Operation
  • Node monitoring and on-call support
  • 99.9% uptime, with failover across geolocations
  • Data backup across geolocations
  • Preventative measures to guarantee security
  • Handle frequent software upgrades during the bootstrapping phase
In addition, a minimum stake of 1,200,000 IOTX tokens is required to become an IoTeX block producer. The actual amount and duration of tokens staked will ultimately impact a potential Block Producer’s ranking, as well as their associated block rewards. Please note that these are initial minimum requirements, and may be subject to change as we bootstrap the IoTeX Network.

Estimated Expenses for the first year
Server: c5.2xlarge. ~$3,000/year​
Memory: st1. ~$1100/year​
Band width: ~$600/year​
Total (with AWS Service): <$5,000 for the first year

Interested in becoming a Block Producer?
For those interested in becoming part of the initial set of Testnet block producers, please complete this form. Later this month, we will release a more comprehensive application for Mainnet block producers. Please stay tuned to our official channels to stay in the loop!
 
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