The biggest challenge of blockchain technology nowadays is entering in the real world. Technology vantages, indeed, are not known at all, even because blockchain technology is not so advanced for a massive use. Some advanced projects, like Ethereum, often show scalability limits when the network increases the transactions per second (TPS). This limit is also a fortress point of other projects like IoTeX, blockchain that aims to transform blockchain technology in a common one for all real uses.
The objective of IoTeX is based on the following technological pilasters:
• RDPoS (Result Delegated Proof of Stake) protocol is a consensus built on DPoS. It optimizes block generation nodes and delegate nodes on blockchain net, reducing necessary time to reach consensus among delegates and so creating more TPS (transaction per second). The blockchain speeds consensus and supports millions of nodes instantly, reducing latency;
• IoTeX maximizes privacy of transactions basing on a secrecy lightweight protocol and keeping active signing ring dimensions;
• IoTeX is thought to interface with more sub-chains and exchange with them data and values. This important innovation increases enough scalability;
• Finally, the blockchain is not centralized but decentralized and usable for scopes that each organization wants to reach. So, IoTeX becomes real robot language behavioral.
Project that wants to develop itself on IoTeX blockchain, is going to work on a principal hidden blockchain, defined Root Chain, that will be the same that will manage data from peripheral sub-chains. Each sub-chain will manage a specific organization aspect through own smart-contracts. All will work in security, transparency and fully decentralized.
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In example, if the reader thinks about ambient assisted living, the Root Chain can allow access to a control panel from which is possible “to reach” every local plant, while each sub-chain manages hydraulic, electric, photovoltaic, lighting plants, etc… At the same time, if you think about car fleet management of a rental company, the root-chain gives instant picture of all cars circulating, while each sub-chain manages fuel levels, geo-localization, maintenance status, accidents, etc…
How each one can image, IoTeX applications are infinite and guarantee high security level and high reliability, taking into account chain-to-chain interface and high scalability that makes IoTeX blockchain unique in the sector.
IoTeX testnet will start in April 2018 and the team points to start the first test in November to become operative at the end of 2019. The tight roadmap is justified by all work done during the 2017.
The team is solid and well knows blockchain programming. Its members are not new to technology world, indeed, jointly have collected a lot of private and famous investor funds because interested to the project.
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For further information visit:
Website https://iotex.io/
Whitepaper https://iotex.io/white-paper