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Blockchain IoTeX

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In the coming months, IoTeX will launch the first privacy-focused IoT products that will run on Mainnet Beta. These will be the first blockchain-IoT products on the market, but this is not our end goal. The most important thing is that these products serve as a “template” to inspire and guide developers/enterprises to build next-gen IoT products with built-in privacy and trust using IoTeX technology. This is a future trillion dollar market that will be “Powered by IoTeX”.

Key components that have been released in Mainnet Beta include:
  • Native IOTX Staking: stake/vote for Delegates using native IOTX for the first time via IoTeX’s Desktop Wallet (note: activated by end of October after v0.9.0 is installed by Delegates)
  • Expanded Delegates Pool: # of Consensus Delegates grew from 12 (April) to 24 (June) to 36 (August), adding further decentralization to the network
  • Upgraded Virtual Machine: IoTeX virtual machine is upgraded to EVM St. Petersburg and now supports Solidity v0.5.X+
  • Cross-Chain Transfers: framework to transfer assets (e.g., stable coins) and data to other blockchains (e.g., Ethereum)
  • Faster Block Production & TPS: reduced block time, higher transactions per second (TPS) and transactions finalized 2x faster across the entire network
  • Optimized Data Storage: ~40x improvement to storage size, ~10x improvement to sync speed, and data partitioning for easier backup and archiving
  • XRC20 Token Standard: allows anyone to create new tokens on the IoTeX Network for use in explorer, wallets, and DApps
The full list of new features and enhancements is provided in the table below.

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See Mainnet v0.5.0 - v0.9.0 on IoTeX Github for more details.

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IoTeX Mainnet Beta Launch & "Name-the-Net" Campaign
Mark your place in IoTeX history by entering our "Name-the-Net" contest where YOU can pick the codename for Mainnet Beta! (optional)
  • 5 Grand Prize Gleam Winners = 5,000 IOTX each.
  • 20 Honorary Gleam Winners = 1,000 IOTX each.
  • "Name-the-Net" Winner = 25,000 IOTX + IoTeX Swag Bag!
Participate
 
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We would like to host this AMA session to go over the recent release of Mainnet Beta and share the updates and progress on our secure hardware devices and plans for the upcoming term. Everyone is welcome to submit their questions starting now in our Telegram Group, Discord or in real time during the livestream on YouTube, for more details and instructions please read below.


Session participants
Join our co-founders Raullen, Jing, Qevan and the Head of BD Larry during this livestream and ask them questions in real time!

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True Trust In The Internet Of Things Calls For An End-To-End Rethink
By Jing Sun
10/21/19 AT 8:43 AM

Society now faces a critical question. When the problem evolves from securing our data to securing the physical devices we rely on -- our homes, our cars, crucial medical devices -- how can we protect ourselves?

The current information infrastructure is therefore fundamentally unable to meet the pressing challenges of today and the greater challenges of tomorrow.

This secure hardware can and should be applied to all of our devices in order to guarantee true end-to-end trust.

This is where blockchain technology comes in. Like credit card chips and other secure hardware, blockchains are highly secure and encrypted.

Truly safe information networks and databases are therefore also needed for an Internet of Trusted Things. This is where blockchain technology comes in. Like credit card chips and other secure hardware, blockchains are highly secure and encrypted. This means that the information they store cannot be hacked the way normal databases can. The information they store, like that on the physical device, is secure and permanent.

The key, then, to re-engineering our interconnected world -- and readying it for the Internet of Trusted Things -- is to combine secure devices with secure networks. Both elements are needed to maintain the chain of trust from the physical world to the digital world. Without true end-to-end security, hackers will simply exploit the weak links in the chain. This fully secure and trusted world is not science fiction, but relies on technology that we are already deploying. If we take the challenge we face seriously, and act now to secure the devices and networks that power our lives, we can replace today's fear and sense of powerlessness with a new world rooted in security, trust, and peace of mind. One where we no longer need to ask others “don’t be evil,” because the Internet of Trusted Things ensures that they “can't be evil.”
 

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Join Product Testing in our vitamart today and get free products

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Check out this xbox Wireless Controller for Xbox 🕹 by VOYEE. This sensitive #joystick has enhanced directional keys to provide better accuracy, and the built-in motors let you experience realistic vibrations and impacts and help you easily win in games. Join our Product Testing via vitamart

IoTeX Delegates Sync Call - October 25



Blockchain & IoT - Reference Architecture
Full Blockchain & IoT Reference Architecture:


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Livestream - Highlights
With Ucam, we will be able to allow everyone to enjoy the data privacy and freedom


Questions from the community:

Q1:
DID {self-sovereign identity} is the first step to reach this ultimate goal, since you will be able to own the decide and the data it collect and decided whether or not you want to share it with anyone. In order to challenge the traditional industry and the big players in it, we need to start with something we can actually influence, for example, allocating and expanding the resources. As an idea, we can have DID in our IoPay app, so that it can be an ID provider to users, where they can create and manage their digital identities. In the future, users can pay attention to whether other apps are “Powered by IoTeX” and have a peace of mind, knowing that their data is safe.

In addition, since the creation and enforcement of regulations such as GDPR and CCPA, business practices are changing and a lot of IoT companies want to make themselves compliant but sometimes are unsure of the process, this is where our technology can be also used and we can become a technology enabler for them.
Q2:
We have actually established that all the data will be owned by users and for example with Ucam, we don’t really expect people to monetize it. Here’s a quick, real-life example: I am wearing a Fitbit band and its tracking my health data. Imagine IoTeX’s tech is built into it, so we can encrypt all the data and have a device & my identity on the edge. The moment the data gets generated and collected, its automatically encrypted and goes to the cloud {I can use AWS or Google for this}, so I fully control where and how the data is stored and I can delete it at any time. Then, I can have a trusted computing technology tap into the encrypted data and extract for example my sleeping patterns to review how healthy I am, run computation and provide me with the results. This is a very simple end-to-end flow without monetization and sacrificing our privacy. But, there are also lots of other types of data, such as home or health data that can be potentially monetized.
Q3:
We are working on a number of different initiatives to support the mass adoption, Vitamart is one of them. We work with a lot of different IoT manufacturers and their main problem is how to make their brand known to potential customers. With Vitamart, we want to introduce users to all these different types of brands, so they can start testing their products for free and provide feedback, in order for the manufacturer to improve their products.

When we started working on IoTeX we got approached by different IoT companies and over time, started working on Ucam, since we saw the need for secure smart home devices in the market. The overall industry at the moment, in our opinion, is not really going in the right direction, since users are uploading their data directly into the cloud servers which can be easily misused and compromised. With Ucam, we will be able to allow everyone to enjoy the data privacy and freedom.
Q4:
First of all, we can not fight this battle alone so we definitely need other companies, technologies, projects, people to help us work on this. Secondly, there are copycats everywhere and there’s no way to eliminate it, so that’s why we just need to stick to what we are doing best! We are already a leading company among other projects in this market, so just need to keep pushing forward.
Q5:
IoT is a very big space and the opportunities in it are endless. There are reports that have cited that IoT will be a 4–6B dollar market in the next few years. We think its actually bigger than that and it’s potentially a trillion-dollar market! Its market cap is comprised of all the furniture & smart home devices, infrastructure of the cities/smart cities, human, cars, machines, wearable devices, etc. Just for the cameras, in 5 years it will be a 100B market, and its just one of the devices in this market, which is huge!
Q6:
We were lucky from the beginning since we had a very global community supporting IoTeX and now we need even more support from our communities since we are launching products. Our goal is to make these products available globally, so that all of our community members will have a priority of getting their hands on them and being the first ones to try. We will provide early access to our community members, so that’s one of the ways you can participate in our ecosystem. You can be not only the first one to try the products but also the one to introduce it to your local community!
Q7:
IoTeX x Supply Chain
Q8:
Why do you think your idea needs the blockchain?
Q9:
Given the recent release of our Mainnet Beta, we are approaching a very stable blockchain for our developers, and have about 10 different applications already running on top of it, see this blog. When we collected feedback from developers of these Dapps, and asked why they chose to build on our blockchain and not Ethereum for example, they all said that it was very easy to build on top of IoTeX.

In terms of the token side, it is time for us to drive the real adoption, demand and usage of our token. We have a number of products in the pipeline, starting with Ucam, smart lock, Pebble Tracker and other products that will all utilize IoTeX’s infrastructure and use native IOTX for operation. We are also thinking of the next phase for IoTeX’s crypto-economics and are discussing a number of different ideas internally {ex. for every DID registered, one token is burned to manage the utility of the blockchain} to drive scarcity and demand for the token. Some projects are talking about micro-payment narrative, which we think would be a part of the things that we are doing, but the IoTeX token should be used to build up the foundation of the entire network, not just related to one component, such as DID. Once we reach a decision on this, we will be sure to share more details with our community, probably around the time when Ucam will be launched, which is mid-December 2019.
Q10:
Since the US market is highly regulated, we don’t want to jeopardize anything for our token holders, so we are working with lawyers to make IOTX tokens available in the US market and will share progress on this later.

Mainnet Beta Launch & project updates

We will have native staking, that will be enabled in the next week or so and after, we will shrink the block producing time to 5s to improve the user experience

We will publish a tutorial on staking with native IOTX
The maximum staking period has been increased to 3 years

DID

The decentralized identity that we are proposing is basically a self-sovereign digital identity that is fully managed and controlled by the user rather than a 3rd party or centralized service

We plan to implement DID in our first IoT devices - Ucam

Questions from the community:

Q7: IoTeX x Supply chain
One type of IoTeX’s products that can be used in this industry is definitely the Pebble Tracker, which is a supply chain oriented secure hardware that we are developing in-house. It tracks GPS location, temperature, humidity, air quality, motion vibration and other important metrics to provide the transparency in the supply chain industry. Since this industry is so broken and manual, using blockchain by itself is not the ultimate solution, the problems need to be addressed more holistically. Currently, the supply chain industry lacks digitalization of the data, it’s mostly manual and done by people — this is where a secure hardware device, like, Pebble Tracker, can help. Second, is the automation, which is partially implemented by centralized systems and is risky, since the data can be tampered with for the financial interests of the parties involved. Blockchain can be the ultimate solution for this and serve as a neutral decentralized place to automate things.

Q8: Why do you think your idea needs the blockchain?
Blockchain provides the fundamental trust many things that we are building and it’s very synergetic with IoT. Depending on the tech stack we will have, like cloud storage, trusted hardware, and even machine learning in the future, the difference is that blockchain provides identity and neutrality among things. Without it, we are just creating another centralized service like Google or Amazon, which doesn't make sense.



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The IoTeX team is coming to meet the top blockchain talents at Blockchain Career Fair - the largest blockchain talent event in the United States. Stop by our booth UCBerkeley
- looking forward to meeting you there!


NEWS

  • IoTeX AMA with CryptoCalibur is coming this Friday - Don’t miss our LIVE Telegram AMA on November 1, from 17 to 18 PM UTC in CryptoCalibur Telegram Chat - ask anything about IoTeX!
  • IoTeX met today with David Ferrer i Canosa, Secretary of Digital Transformation from the Catalonian Government
 
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LEO

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IoTeX Staking & Token Swap Guidance
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Hello IoTeX Community! There are currently two tokens in the IoTeX Network that are swappable on a 1:1 basis -- IOTX-E (ERC20) and IOTX (Native):

  • IOTX-E (ERC20): used for staking/voting on Ethereum Mainnet, and currently trading on most exchanges (e.g., Binance, Bittrex, Kucoin)
  • IOTX (Native): used for staking/voting and running txns/contracts on IoTeX Mainnet, and currently trading on select exchanges (e.g., PIEXGO)
Throughout the next six months, important events such as official exchange swaps and migration to “Native IOTX only” will occur. In this blog, we provide schedules/guidance for staking and token swaps.

Existing Votes/Tokens on Ethereum
After Mainnet GA is launched in Q1/Q2 2020, all existing votes/tokens on Ethereum will be automatically converted to IoTeX Mainnet. This process involves taking a snapshot of the voting smart contract on Ethereum and installing the snapshot to IoTeX. You do NOT need to unstake/restake your tokens.


Example: if you recently staked 10,000 IOTX-E (ERC20) with 350 day stake duration, your votes/tokens will be automatically converted to IoTeX after Mainnet GA. When the stake duration expires and you unstake, you will receive 10,000 IOTX (Native).


The final cutoff to swap IOTX-E to Native IOTX will be announced in Q1 2020.

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⚠ Important Notice ⚠

‼All remaining points in the IoTeX Profile System will be converted to IOTX (native) by the end of November!

If you have any points left in our profile system, please make sure to login and set a valid ETH address by the end of 11/15/2019. We will do a batch swap for all points to IOTX (native) before the end of the month.

All native IOTX will be sent to your corresponding IoTeX address (“io…”) which shares the same private key of the ETH address you set in the profile system.
‼Please DO NOT use an exchange account!‼


IoTeX Wins CES Innovation Award for Ucam - Private, Blockchain-Powered Security Camera

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Ucam is a next-gen, blockchain-based home security camera that is user-centric and fully private. Equipped with premium features, including 1080p HD video, motion detection, night vision, and two-way audio, Ucam allows users to monitor their homes from anywhere at any time. What truly differentiates Ucam are several privacy-related breakthroughs, including end-to-end encryption of all content, full consumer data ownership, and blockchain-based data authorizations. For the first time, devices owners, rather than hardware manufacturers and corporations, will be able to own and control all of their data.

The CES Innovation Awards are “an annual competition honoring outstanding design and engineering in consumer technology products.” Honorees will be featured at the annual CES convention in Las Vegas, which runs from January 7-10, 2020. Past honorees have included Google, Amazon, Samsung, Sony, LG, and more.

“We are proud to be recognized by an organization as renowned as CES and extremely excited to deliver the first privacy-focused and blockchain-powered IoT products to the mass market,” said IoTeX CEO Raullen Chai. “This award is further proof of the value of building the Internet of Trusted Things, and we are proud to be at the cutting edge with Ucam.”

IoTeX plans to open pre-orders for Ucam to the general public in December 2019. Looking forward to 2020, the company will continue its rollout of privacy-focused products and services for the Internet of Trusted Things, including new hardware and software products to guarantee security, trust, and privacy between people and their devices. The full range of IoTeX's privacy-preserving hardware products is available - here

The full list of CES Innovation Award Honorees for 2020 is now available - here

With Ucam, we will be able to allow everyone to enjoy the data privacy and freedom
 
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