IoTeX Mainnet Alpha is the first and main step of our project with you in building a reliable Internet of things that can be trusted.
This article is a review - Everything You Need to Know About iotEx Mainnet Alpha
We started our way in 2017 with network creation Internet reliable things, In which all physical and virtual "things" are people, cars, enterprises and Dapps - can effectively share information and values globally.
Over the past two years, we have created a blockchain network from scratch, and dedicated themselves to the introduction of new innovations in the blockchalines industry. Our work is implemented in IOTEX Mainnet Alpha, which provides a modern root chain, on which new levels of level 2, tokens, Dapps and enterprises will be launched.
IoTeX Mainnet Alpha is an Internet infrastructure that you can trust. Our vision is much larger than just trust in modern IoT devices. Acting as a decentralized confidence structure for all physical and virtual things, IOVEX will provide end-to-end confidence throughout the life cycle of information, including the collection, transfer, storage and use. This means that data and assets can be shared with all types of "things", which allows the use of new decentralized business models, including people, machines, enterprises and Dapps:
- People can unhindered to interact with the machines in the new sharing economy and in cases of data use as services.
- Machines can directly interact with other machines for the nutrition of decentralized autonomous organizations (DAO)
- Enterprises can cooperate with other enterprises to achieve new levels of collective intelligence and impact
- People, cars and businesses can access reliable DAPP applications to perform various processes / tasks with full data privacy
Internet of things you can trust will change the world. But for the embodiment of these fantasies into reality, a special kind of block chain is required. IOTEX is the only blockchain platform capable of supporting Internet things that can be trusted. From the first day, we have adopted preliminary design solutions to adapt our blockchain network to support data confidentiality, reliable calculations, large-scale IoT, interaction and options for using large data. Our project serves as an infrastructure to unite all "things". We all create and maintain a new decentralized economy.
What is Mainnet Alpha?
Mainnet Alpha is an root chain, which is a reliable basis for future level chains 2 (L2) and Dapps. As a manager of all chains L2, root chain uses Roll-DPOS consensus to ensure safety, reliability and transparency. Root chain provides a P2P network and consensus resources that are used by all L2 chains on the IOTEX network. The root chain will allow developers to deploy and run user chains L2 as new nodes in the cloud! An intersection link is also provided by root chain, which allows L2 chains to interact.
Safety-oriented root chain acts as the starting platform for various L2 chains that must be flexible and useful for use. L2 circuits can be created with an understandable economy of cryptoeconomic incentives, and architectures to meet specific uses. The first chain L2 (code name: "Avocain"), confidential-oriented and trusted calculations will be launched in the second quarter of 2019.
Key components running in IOTEX Mainnet Alpha include:
- Roll-DPOS consensus: The internal mechanism of the IOTEX consensus is an option for delegated block confirmation (DPOS), which provides higher scalability without prejudice to decentralization or safety. Roll-dpos randomly selects 24 of the 36 best delegates selected by the community using a distributed key generation (DKG) + BLS signatures. New delegates are chosen randomly each era (one hour) to ensure high safety and efficiency of equipment.
- Ethereum-to-ioTex bridge: Until Q3 / Q4 is running the IOTEX gravitational circuit (control level), management tasks (for example, rates / voting) will be performed in Ethereum. To simplify this firewall compatibility, we have created the first decentralized bridge between IOVEX and Ethereum, where the status of smart contracts for placement / voting Ethereum prescribes the IOTEX blockchain to perform solutions of delegates based on real voting results.
- Expandable state transitions. The IOTEX state transition component is designed to be expandable. This means that it is convenient to connect to the subproofing to support certain state transitions (for example, confidential TXNS) without disturbing performance / security. At the moment, five subposters are implemented at Mainnet Alpha:
- EVM-compatible executive module: MainNet Alpha uses Ethereum Virtual Machine (EVM), which is widely used by blockchain developers. Existing DAPP based on EVM can be transferred to the IOTEX network now! In the future, we will use EVM as an autonomous executive device for peripheral devices and we will develop your own virtual machine, interpreter and the corresponding programming paradigms for decentralized computing.
- SDK and Explorer: To ensure excellent opportunities for developers, we provide the latest technological stack in the industry. Dapps can interact with blockchain IOTEX using our SDK (IOTEX-antenna) via GRPC. Developers can also create / unlock accounts, make up smart contracts and query a chain of GRAPHQL singing through our conductor (IOSEXSCAN). We use typewritten text to support types and annotation checks for ease of use and technical quality.
IotEx Native Taken & Utility
The launch of the MainNet Alpha is also the official start of the iOnex token. Own Token IOTEX is a service token that will be used both in the root chain (orchestration level) and in the gravitational chain (control level) for the following purposes:
- Decentralized management: distribution / voting for delegates, delegate remuneration and reduction, as well as voting / referendums throughout the network (t.E. Changes in the rules, parameters, protocols)
- Fee for gas: Performance of transactions and execution of smart contracts in our network. One of the innovations is that gas fees are collected as "tax", and then combine / are distributed to block manufacturers delegates.
- Binding / operating costs for chains L2: To ensure level 2 chain, you need to install tokens in the root chain as a link and pay operating costs. Each L2 chain can have its own crypto economics and tokens, but will pay "registration costs" to use the root chain resources.
Tocken exchange: Native & ERC20
New IOTEX's own token and existing IOTEX ERC20 token will coexist for 3-6 months (before the launch of Gravity Chain in Q3 / Q4 2019). Currently, the ERC20 will be used to place / vote on Ethereum and will be available for exchange for exchanges (BINANCE, BITTREX, UPBIT), and its own token will be used to perform transactions and smart log contracts in the IOTEX network.
After launching the Gravity Chain in Q3 / Q4 2019, we will promote the official exchange of ERC20 token on your own token through official exchange offices. Until then, the exchange options for token holders with the possibility of bilateral exchange of tokens 1: 1 include:
- ERC20-To-Native: Use our Ethereum-ioTex bridge to exchange through a smart contract - simply send the ERC20 to the ETHEREUM smart contract, and the corresponding amount of own tokens will be sent to your IOTEX address
- Native token in ERC20: Use our micro-service tube IOTEX - just send your own tokens to a specific IOTEX address, and the corresponding amount of ERC20 token will be sent to your ETH address.
IOTEX Delegates and rates / voting
Our network uses Roll-DPOS consensus, delegates are selected by the project tokens holders to achieve consensus on behalf of the entire network. Main role Delegate It is to help expand and maintain the network by providing a reliable node infrastructure, maintaining high speed of the server, cooperation with other delegates to achieve consensus and participation in various network initiatives.
We use unique Rate / Voting Process, which is fully controlled by smart contract. Thus, there is no centralized body that could manipulate the results of the voting - it is completely decentralized, as well as all the votes! On the IoTeX 1 token = 1 vote, and voters can also Earn project token, Setting a predetermined duration of the bonus (bonus curve). For more information about the voting process, please refer to our universal directory for voters.
Currently there are more than 50 delegates of IOTEX from more than 20 countries, including developers, communities, media, universities, enterprises and funds / Venture capitalists. Also included experienced nodes from other POS / DPOS networks, such as EOS, Tezos, Tron, Lisk and Iost. With such a varied, loyal and experienced group of delegates, we are confident that the IOTEX network will be able to develop effectively and sustainably.
Voting for delegates began on March 11 in order to deliver / vote for loading a network in the amount of 20% of the total circulating tokens offer (approximately 500 million. IOTX). This goal was achieved within one week, which is a confirmation of our commitment to our community! A week before Mainnet Alpha remains / voted more than 750 million tokens (about 30% of the negotiable offer).
If you have not voted, vote today on the official voice site!
IOTEX Created as a software product with 100% open source - this is a solution and a network for exchanging views and collaboration, where the whole is more than the amount of its parts. The launch of Mainnet Alpha represents a new IOTEX era, where the development of the community and team work is the main priorities. We can't wait to see how we will jointly build our common network!
Mainnet Alpha is just the beginning. Designed by us is a multi-level architecture consisting of hierarchical layers of blockchawing with unique duties: Gravity Chain (control), root chain (orchestration) and chains Layer 2 (Operation / execution). Additional layers will be released during 2019, with the first level 2 chain in Q2 and GRAVITY CHAIN in Q3 / Q4. For more details, please see our post about Great Design IOTEX.
As shown in our road map, 2019 will be saturated for IOTEX. If there is a reliable base of root chains, the following steps of adding new chains L2 (T. E. Trusted calculations, IOT device concentrator), open source tools (T. E. SDK, researchers, wallets) and Dapps / Services (T. E. Dex, stable coins, oracles) will include the All Community of developers and IOTEX users.
Let's make this important milestone in Mainnet Alpha, we look forward to the upcoming travel - let's build the future together!
about the project
Founded as an open source project in 2017, IOTEX creates the world's leading blockchain platform for the Internet (IoT).
Our mission is to create a decentralized confidence structure for a new era of cooperation and data exchange between devices, applications and people. With the support of the global team of researchers and leading engineers, our project combines blockchas, reliable equipment and the latest calculations to fully implement the potential IoT.
Media Channels IOTEX:
IOTEX on CryptoCoinExpert.info
Channel Telegram : https://t.me/iotexchannel
Join us: https://iotex.io/careers