# IoTeX ![](https://3261667438-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MjZBJVuQ9HwvlJr6RQ1%2F-MlLNi-YR36UI8bqwsh8%2F-MlLS9Xm7_a1zAPcp7wr%2Fparrotdefi%20x%20IOTEX.png?alt=media\&token=d758290d-2de8-4ad9-90c6-5ca14e540b38) 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 {% hint style="info" %} [**https://iotex.parrotdefi.com**](https://iotex.parrotdefi.com) {% endhint %} ### 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. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://parrotdefi.gitbook.io/parrotdefi/networks/iotex.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.