SAN FRANCISCO, CA / ACCESSWIRE / April 23, 2019 / IoTeX (iotex.io) -- the privacy-centric blockchain platform to power the ''Internet of Trusted Things'' -- launched their highly anticipated Mainnet today after more than two years of development. IoTeX meets this major milestone alongside 50+ Delegates from 20+ countries, including funds/VCs, enterprises, developer groups, and media.
Founded as an open source project in 2017, IoTeX was built from scratch by former tech leads from Google, Facebook, Uber, Intel, Bosch, and more. IoTeX's vision is to enable all physical and virtual ''things'' -- humans, machines, businesses and dApps -- to exchange information and value at global scale. IoTeX combines blockchain, IoT, and privacy to bring trust to the new decentralized economy.
''The Mainnet introduces the IoTeX Root Chain, which provides a robust foundation for developers to build next-gen dApps,'' details IoTeX Founder, Raullen Chai. ''Very soon, anyone will be able to spin up their own Layer 2 chains as effortlessly as spinning up a new instance on Cloud.''
Delegates play a pivotal role in the IoTeX Network, acting as community-elected guardians that manage consensus and drive network-wide initiatives. Delegates are rewarded in native IoTeX tokens, which have also been launched along with the Mainnet. More than 750 million votes have been cast by tokens holders this past month for 50+ Delegates. The initiation of live economic incentives and diverse Delegates, including DraperDragon, CoinGecko, and Cobo, symbolizes an important turning point for IoTeX.
''Our Mainnet launch transforms IoTeX from a theoretical experiment to a real, tangible network,'' explains Chai. ''We look forward to continuing this journey with the entire IoTeX ecosystem, including our longtime supporters and new Delegates from EOS, Tezos, Tron, and more.''
IoTeX presents a unique vision for the decentralized world. Privacy, trusted computing, and IoT edge devices are core to IoTeX's vision of a decentralized trust fabric to connect all physical and virtual things. Amongst IoTeX's in-house innovations are Roll-DPoS consensus, blockchains-in-blockchain architecture, and trusted computing on edge devices. Each of these innovations play a key role in IoTeX's mission to build the Internet of Trusted Things.
''IoTeX's next frontier is in Layer 2 chains, which will integrate with the Root Chain to expand the capabilities of IoTeX dApps,'' says Chai. ''Our first Layer 2 chain, focused on privacy and trusted computing on edge devices, will contribute to new business models and really transform the industry.'''
Since its inception, IoTeX has partnered with enterprises, SMBs, and universities on research and development at the intersection of blockchain, IoT, and privacy. With the new Mainnet Alpha, existing proofs of concept in supply chain, smart homes, and privacy-preserving smart contracts will be expanded and new use cases will arise. The sky is the limit for IoTeX, which has an ambitious roadmap for the rest of 2019 and beyond. For more information on IoTeX and the Mainnet launch, please see the IoTeX website, launch page, and Telegram channel.
Founded as an open-source project in 2017, IoTeX is building the world's leading privacy-centric blockchain platform for the Internet of Things (IoT). Their mission is to build a decentralized trust fabric for a new era of collaboration and data exchange among devices, applications and people. Backed by a global team of research scientists and top engineers, IoTeX combines blockchain, trusted hardware and edge computing to realize the full potential of IoT.