If you are interested in this, it seems that you must have some ideas about fiat or crypto currencies. If not, you should do some homeworks to find out more about them. There are thousands of articles which will tell what they are. You can seek for some keywords like BTC, ETH or ICO. You can understand the concept of blockchain at: https://en.wikipedia.org/wiki/Blockchain.
Okay, if you have already done your homework, I can now tell you why I am writing this newspaper. In this era of technology development, ICO market is similar to the Wild West during the time of gold rush. If you know the way, earning good money is not some difficult, but you have to find a good-enough project to go for. Here is one among the interesting projects which I am really excited to share with you: IoTeX.
What is IoTeX?
IoTeX is a decentralized network for the IoT (Internet of things). The network is powered by a privacy-centric blockchain. The company was founded in 2017. They are headquartered in Menlo Park, California.
IoTeX targets to encourage innovation in the IoT space. They want to encourage innovation by focusing on 2 core functions which are considered to be “the two key forces to propel innovations in IoT space” by IoTeX’s team , including:
- Crypto incentives
- Community effort
With that in mind, IoTeX would like to create a next-generation network for IoT with the application of blockchain platform that provides strong scalability, privacy, “isolatability”, and “developability” for incubating new IoT applications and ecosystems.
The Internet of Things (IoT) is the network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect and exchange data, creating opportunities for more direct integration of the physical world into computer-based systems, resulting in efficiency improvements, economic benefits and reduced human intervention.
The number of IoT devices increased 31% year-over-year to 8.4 billion in 2017 and it is estimated that there will be 30 billion devices by 2020. The global market value of IoT is projected to reach $7.1 trillion by 2020.
IoTeX’s features
Core features of the IoTeX platform include:
- Built-In Privacy:
IoTeX has built-in privacy preserving techniques that aim to “maximize privacy” using features like lightweight stealth addresses and constant size ring signatures. - Fast Consensus:
IoTeX achieves consensus quickly using RDPoS. This consensus system supports millions of nodes with instant finality and low latency in an environmentally-friendly way. It’s specially designed for IoT. - “Blockchain in Blockchains”:
IoTeX, like Plasma, will pull states off the root chain to further boost privacy, scalability, and interoperability. IoTeX’s describes this as “blockchain in blockchains” or “innovated cross-chain transferring of value and data.” - Autonomous Device Coordination:
IoTeX has a decentralized autonomous organization (DAO) for IoT that codifies law for “the robot world.” Using this DAO, the community can create unified governing laws across networks of different IoT devices.
A review about IoTeX
IoTeX is among the projects that I have found potential in this blockchain era. Below are some reasons why I am telling this:
IoTeX has an excellent founding team: (100% thumbs up for this!!)
The team of IoTeX consists of probably the strongest tech members who have many years experiencing in blockchain industry. Coupled with experienced advisors, the team is perfectly prepared to deliver an impeccable product to the global market.
IoTeX was co-founded by Raullen Chai, Qevan Guo, and Jing Sun. Chai is a Ph.D and Research Scientist in cryptography at the University of Waterloo. He’s also held positions as the head of crypto R&D at Uber and as a Security Engineer at Google. He has 8+ years of experience in blockchain and cryptography.
Guo has a Ph.D in machine learning and computer vision from the National University of Singapore. He previously held a position as Engineering Manager and Research Scientist at Facebook.
Sun is a founding partner at Sparkland Capital, which has led 40+ investments and innovations in blockchain, security and IoT. Sun has also served as a board director on numerous companies and has extensive startup experience.
The demo has been up in the air
You can check out the demo of the project at
https://www.youtube.com/watch?v=wysr2VU71kI&feature=youtu.be.
The demo is illustrated in English very clearly with Russian subtitle. If you are a tech-driven person, you can check the code better at the Github: https://github.com/iotexproject/iotex-coreIoTeX has the well-built documentations and website
The detailed 40-page whitepaper of IoTeX in English is available at: https://iotex.io/white-paper
It contains the information about the project. This white paper is very nicely-designed and the information is illustrated in details. This has illustrated the great effort that the team has been put in this project.
Besides the good whitepaper, the website is also very detailed, contains all necessary graphics and information about the token sale, the project and the FAQ. The website also gives the links to social media pages and documents.IoTeX has been doing good with social media platforms
IoTeX aims at gaining popularity via social media channels and bounty programs. They have more than 11,000 followers on Twitter, which is an impressive number. You can be a part of their groups in order to be updated with the lastet information by clicking here:
Telegram: https://t.me/iotexchannel
Twitter: https://twitter.com/iotex_io
If you check out the Charity part in its website, you can see the comment of everyone about this project, most of them are positive feedbacks.
In conclusion
IoTeX’s concept can be easily understood by everyone. Due to the demand, IoTeX helps to contribute to IoT trend.
There is no reason to hesitate to become a part of IoTeX. Let’s participate in this project as soon as possible because the sooner you support the project by buying its tokens, the better price you mаy expect аlong with higher bonuses. So far, the project looks promising according to my analysis.
Please:
If you found this article helpful or you just simply appreciate the information I have curated and the analysis I have provided, please support me by liking and sharing this article. You can also follow me to stay updated with the most remarkable ICOs coming in the next articles.
More importantly, if you find this project valuable or interesting as I do, please support it via the social media channels which I have given the links below.
Interested readers can take a closer look at the following links:
Website: https://iotex.io/
Whitepaper: https://iotex.io/white-paper
Author: Tram Nguyen
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile&u=1417448
Contact: [email protected]
Telegram: @joseph_ive
IoTeX hash id is K9JGn