They are building a privacy-centric blockchain platform to power the Internet of Trusted Things. Our in-house innovations include the blockchains-in-blockchain architecture for heterogeneous computing, fast and robust Roll-DPoS consensus scheme, and efficient trusted computing protocols.
The IoTeX Network uses Roll-DPoS consensus, where Delegates are elected by token holders to run consensus on behalf of the entire network. The primary role of a Delegate is to help grow and maintain the network by providing robust node infrastructure, maintaining high server uptime, collaborating with other Delegates to run consensus, and contributing to various network initiatives.
IoTeX uses a unique staking/voting process managed completely by smart contract. As such, there is no centralized entity that can manipulate voting results — it is fully decentralized as all voting should be! In the IoTeX Network, 1 token = 1 vote and voters can also get bonus votes by setting a pre-defined stake duration.
There are currently 50+ IoTeX Delegates, including developers, community, media, universities, enterprises, and funds/VCs. Also included are experienced node operators from other PoS/DPoS networks, such as EOS, Tezos, Tron, Lisk, and IOST. With such a diverse, committed, and experience group of Delegates, we are confident that the IoTeX Network will be able to evolve efficiently and sustainably.
IoTex currently has a two-token model, whereas the ERC20-Token is used for voting one of the IoTeX Delegates. It is a simple one-click process which can be done with the Metamask Wallet. The rewards are then paid out to the IoTeX Mainnet Address of your choice.
In this post below, provided an overview of the voting process and step-by-step instructions on how to vote for Delegates.