IoTeX, the privacy-centric blockchain platform to power the ″Internet of Trusted Things″ launched its Mainnet today after more than two years of development.
According to a press release, founded as an open source project in 2017, IoTeX was built from scratch by former tech leads from Google, Facebook, Uber, Intel, Bosch, and more. IoTeX’s vision is to enable all physical and virtual ″things″ — humans, machines, businesses and dApps — to exchange information and value at global scale. IoTeX combines blockchain, IoT, and privacy to bring trust to the new decentralized economy.
″The Mainnet introduces the IoTeX Root Chain, which provides a robust foundation for developers to build next-gen dApps,″ details IoTeX Founder, Raullen Chai. ″Very soon, anyone will be able to spin up their own Layer 2 chains as effortlessly as spinning up a new instance on Cloud.″
Delegates play a pivotal role in the IoTeX Network, acting as community-elected guardians that manage consensus and drive network-wide initiatives. Delegates are rewarded in native IoTeX tokens, which have also been launched along with the Mainnet. More than 750 million votes have been cast by tokens holders this past month for 50+ Delegates. The initiation of live economic incentives and diverse Delegates, including DraperDragon, CoinGecko, and Cobo, symbolizes an important turning point for IoTeX.
″Our Mainnet launch transforms IoTeX from a theoretical experiment to a real, tangible network,″ explains Chai. ″We look forward to continuing this journey with the entire IoTeX ecosystem, including our longtime supporters and new Delegates from EOS, Tezos, Tron, and more.″
The release said since its inception, IoTeX has partnered with enterprises, SMBs, and universities on research and development at the intersection of blockchain, IoT, and privacy.
Image Credit: IoTeX