One of the most promising blockchain platforms in the current market, Iotex was recently spotted at the AIBC Summit 2022 Event, which was held in Dubai. IoTeX is a self-scaling and privacy-focused blockchain technology for the Internet of Things (IoT), which “connects the physical world, block by block” to bring autonomous device coordination to the people.
The system enables a blockchains-in-blockchain architecture for heterogeneous computing, a lightning-fast Roll-DPoS consensus method, and lightweight privacy-preserving algorithms, among other in-house inventions to push the frontier of blockchain 3.0.
The platform is the fastest, most reliable, and most scalable blockchain project in the crypto market currently. The journey is to power billions of devices and decentralized applications across the physical and digital world.Having community of 200k+ with 43,138 speakers,36,774,100 transactions and 12,252 active devices. Iotex network is expanding rapidly with the market growth.
Adding further it is supported by award-winning research and technology, IoTeX is the world’s leading industrial consortia and standards body
Ideas and Projects
The IoTeX platform is home to an ever-expanding ecosystem of projects and products created by the IoTeX community.
It has around 100 delegators and is fully decentralized and has the upper hand for being the first blockchain platform to connect real-world data to Dapps.
While gathering information from the official website, each transaction is almost instantaneous and only costs a few cents. Also, In the blockchain arena, it has one of the best cryptographic security mechanisms.
The implementation exhibits a lot of flexibility and offers a lot of benefits when it comes to developing decentralized and global IoT applications. To our knowledge, this is the first real-world demonstration of using DIDs and VCs to provide decentralized IoT data permission.
To conclude platform aims to connect devices and decentralized applications and help their businesses grow. Visit the official website of the platform to gather more details related to the project.