IoTeX
We feel IoTeX is currently in an excellent position to serve as the foundation of expansion for our platform due to its high speed and low transaction costs, in line with the true meaning of Decentralized Finance.
Parrot Defi on IoTeX
What is IoTeX?
IoTeX is taking the IoT (Internet of Things) to the next level by pushing blockchain technology further, creating a borderless ecosystem where humans and machines can interact with guaranteed trust, free will, and privacy.
Hence, being a privacy-focused blockchain and designed to connect numerous Internet-connected devices, IoTeX has identified challenges that stand in the way of the mass adoption of IoT. These include scalability, high operating cost, lack of privacy, and lack of functional value.
They solve this by leveraging a unique proof of stake consensus mechanism and a sidechain architecture.
What are the advantages of IoTeX?
IoTeX uses Randomized Delegated Proof of Stake (Roll DPoS). It is the core piece of technology in the IoTeXx network. It was conceived to address many challenges faced by the standard DPoS networks.
The Roll-DPoS combines DPoS with Verifiable Random Functions (VRF) and Practical Byzantine Tolerance (PBFT).
By including all these together, Roll-DPoS can achieve high scalability and improved decentralization, making IoTeX the fastest, most secure, and most scalable blockchain platform on the market, backed by award-winning research and technology.
In addition, IoTeX already powers real devices, including award-winning blockchain-powered cameras from Consumer Electronic Show (CES) and the pebble geo device, perfect for supply chain optimization in any industry.
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