💲RECAP AMA EPID COMMUNITY x IOTEX
EPID is Hosting an AMA with IoTeX
🕖AMA Timing : December 28th 2020 1:00 PM (UTC +0) | 8 PM (GMT +7)
🏚Venue For AMA: @EPID_Community
💰Reward Pool : $100 IOTX
➡️Segment 1: Project Introduction
Grunt | Community Manager:
Q1: Can you give a brief introduction of what IoTeX is?What is it aiming to do, and what it intends to solve in this industry?
Alina_IoTeX:
IoTeX started in 2017 as an open-source project with a vision for the Internet of Trusted Things — an open ecosystem where humans and machines can interact with guaranteed trust, free will, and privacy. IoTeX combines blockchain, secure hardware, and confidential computing to enable trusted data from trusted devices for use in trusted Dapps.
IoTeX was built 100% from scratch (no forks!) and is tailor fit to support Blockchain + IoT use cases. IoTeX is now empowering privacy-preserving smart devices like Ucam and Pebble Tracker, which are the world’s first #OwnYourData devices. The IoTeX team is based in Silicon Valley and consists of 30+ top tier engineers and scientists from Uber, Google, Intel, Facebook, and other top tech companies. Currently, the IoTeX Network is maintained by 60+ global Delegates (https://member.iotex.io) including Blockfolio, CoinGecko, DraperDragon, and more.
Grunt | Community Manager:
Q2: Can you share some of your background and experience? How did you know and get involved in cryptocurrency? What made you decide to found IoTeX?
Alina_IoTeX:
Just shared above 😉 I have been with the project for 2.5 years and joined shortly after it was founded in 2017. I was fascinated by the team’s background and project’s vision when I first came across it. Knowing how valuable our data and privacy are and the problems that exist in this space, I wanted to become a part of a project that is solving these problems and giving people back the full control.
I have a degree in BComm and over 14 years of experience working in Customer Service, Marketing and Project Management, as well as co-founded several start-ups. My role includes managing IoTeX’s communications channels, developing community engagement strategies and overseeing the Brand Ambassador Program in order to bring IoTeX’s products and services to the masses and communities across the world.
Grunt | Community Manager:
Q3: Currently, there are many scam projects that cause investors to lose. So, Why we should choose and trust IoTeX?
Alina_IoTeX:
I think by looking at IoTeX’s history and all the tools, services, codes we have launched it is apparent that this is a serious project and REAL products! I suggest you to learn more about IoTeX and the team iotex.io and join our community to erase any doubts you may have and DYOR 😉
Grunt | Community Manager:
Q4: Can you tell me more and everyone here about IoTeX ecosystem?
Alina_IoTeX:
Our Ecosystem page includes IoTeX devices, DApps, tokens, partners, and exchanges. Projects listed on it are a mix of those developed solely by IoTeX Foundation, in collaboration and by external partners.
Grunt | Community Manager:
Q5: What is a mission of project?
Alina_IoTeX:
The IoT connects our world in unprecedented ways, but it also opens a portal into our private lives. For the past decade, governments and corporations have shamelessly tracked our activities, collected and sold our data, and breached our fundamental right to privacy at global scale. Is this the future we must accept? No — we have the opportunity to re-architect our world with privacy and data-ownership as first principles to ensure the IoT benefits everyday people and businesses, not omnipotent institutions.
IoTeX’s mission is to enable a borderless ecosystem where humans and machines can interact with guaranteed trust, free will, and privacy. We envision a future where users, not institutions, are in complete control of their devices and data. No intrusive ads or surveillance, just privacy and peace of mind. We call this vision the Internet of Trusted Things.
Powered by the IoTeX platform, the Internet of Trusted Things is the first open, safe, and human-centered ecosystem of self-sovereign devices and users. With the Internet of Trusted Things, we can finally have peace of mind knowing our data, identity, and privacy is owned by us, not institutions. Join IoTeX on our mission to establish a new privacy paradigm for smart devices and elevate device builders and users to new heights — together, we can build the future we deserve.
➡️Segment 2: Question From Twitter
Grunt | Community Manager:
Q1: @ryuuuubtc12
How do you define a really good exchange? How about $IOTX? Security is very important so,how about IOTEX security systems? Is it enough safe bcos recently many exchanges get hacked and what makes IOTEX different from other project?
Alina_IoTeX:
Well let’s start with the fact that IoTeX is not an exchange 🤷♀️
Please see the 1st part during which we introduce what is IoTeX
To answer the second part of your question, what makes IoTeX unique from other projects » IoTeX has deep expertise in both blockchain and IoT, which has allowed us to launch the world’s first blockchain-powered IoT products. We have not seen any other project launch real products like IoTeX. We are way past the white paper phase — these days, the proof of real products matters a lot. Only two years after IoTeX launched our first code release in April 2018, we already have many devices powered by the IoTeX platform, not just prototypes or PoC.
1) Launched a fully decentralized Mainnet with DPoS staking maintained by 60+ global Delegates (http://member.iotex.io/), including Blockfolio, CoinGecko, DraperDragon, and more
2) Launched REAL IoT products like Ucam (https://ucam.iotex.io/), the world’s first private security camera built in partnership with Tenvis (https://www.amazon.com/TENVIS-Wireless-Surveillance-Security-Auto-Cruise/dp/B071DDBT7M) and Pebble Tracker (https://www.nordicsemi.com/News/2020/02/IoTeXs-Cellular-IoT-based-tracker-delivers-environmental-and-condition-data-for-assets-in-transit), a decentralized asset tracker built in partnership with Nordic Semiconductor (https://www.nordicsemi.com/).
Grunt | Community Manager:
Q2: @Mark75479039
Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?
Alina_IoTeX:
We have a number of different initiatives internally and externally to foster and promote community education and awareness. First of all, shortly after the project was launched, we have introduced a Brand Ambassador Program https://goo.gl/owhmg5
Our Ambassadors help us to set up communities in different countries and educate local followers on all things IoTeX. Ambassadors also help with creating content, including step-by-step videos, explainers, guides, etc.
On a regular/monthly basis we host Town Halls/AMAs, where we share with the community things we are working on and what’s coming up next and of course answer any questions they may have for us.
+ we have a number of different activities & campaigns in which members can participate in and receive rewards in IOTX & VITA ➡️ Community Scoreboard — December
Grunt | Community Manager:
Q3: @y1sus_afp
IoTeX has completed integration with Google BigQuery. How will this new merger help to fulfill the mission and vision of IOTEX? As Google is a centralized company, the IOTEX data that will now be in your cloud will not be at risk?
Alina_IoTeX:
This partnership entails a new use case for taking data from the blockchain into the real world and being able to analyze it. With BigQuery, anyone can run advanced analytics across multiple datasets/blockchains, as well as track inter-chain activity for interoperable tokens, such as ioBTC and ioETH in the IoTeX Network.
By increasing the transparency of blockchain systems, the contained data becomes more accessible and useful. This project’s objective was to make real-time IoTeX data, such as gas costs, smart contract activity, mimo liquidity, Ucam registrations, and decentralized identity (DID) records, from IoTeX available for exploration with BigQuery. Specifically, this integration:
- Performs real-time extraction of data from the IoTeX blockchain
- Stores the data to Google BigQuery and de-normalizes it to make exploration easier
- Derives insights from the extracted data via Google’s Data Studio
Grunt | Community Manager:
Q4: @Nanacy86635239
There are interesting stories behind every successful project, and of course you have to work hard. Can you share one of these interesting stories with us? What does the IoTeX name stand for?
Alina_IoTeX:
IoTeX = IoT (Internet of Things) + ex (extension, expand, etc.)
Basically we want to expand and extend the capabilities of the Internet of Things = IoTeX!
There are many interesting stories that happened to us while building IoTeX during these past 3 years 😅 I think what stood out the most in my memory was building Ucam and than presenting it live at CES 2020 in Las Vegas — the world’s largest tech conference, and winning the CES Innovation Award for Cybersecurity & Privacy 🚀
Grunt | Community Manager:
Q5: @venao18639289
IoTeX is the only blockchain platform capable of powering the Internet of Trusted Things. i found this sentence in your Medium. What self-confidence do you have to claim such a thing? Can you briefly explain to us?
Alina_IoTeX:
The IoTeX platform employs a unique, modular architecture to meet the unique requirements of IoT-related use cases. At its core, the IoTeX platform seeks to enable trusted data and trusted devices, meaning developers do not need to replicate this complex work. Instead, developers can focus on building business logic, economics, and industry-specific components to differentiate their applications and services. Here’s a graphic of what the layers of our tech look like:
➡️Segment 3: Free asking
Q1: ︵❣️Kim AI︵❣️:
Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes.?
Alina_IoTeX:
IoTeX has one of the strongest and most technical teams in the entire industry. We are at the forefront of cutting-edge tech in the blockchain space, but we are also equally cutting-edge in the IoT space, including hardware, connectivity, and large-scale architecture. The IoT industry recognizes our potential too — IoTeX was recently selected as the Co-Chair of the Industrial Internet Consortium (IIC) Blockchain Group along with Amazon and Huawei. We built our entire blockchain and IoT middleware from scratch and launched several blockchain-powered IoT products in only two years. The best part is we are just getting started — there is so much future potential for IoTeX.
Q2: Linda Elizabeth:
Do the token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project??
Alina_IoTeX:
Definitely! IoTeX is a digital democracy where the voice of the community is the driver of change. The fact that any stakeholder can propose, debate, and vote for changes is a core principle embedded into our governance design.
In the future, all IoTeX stakeholders will have the ability to evangelize and implement their ideas without requiring permission from the IoTeX Foundation or anyone else — a truly open ecosystem where the best ideas win!
Learn more: https://iotex.medium.com/decentralized-governance-of-the-iotex-network-35164d5605ea
Q3: Диего | Diego | ディエゴ | Satoshi Club | BCCore:
Can you tell me what is the role that IOTX uses in your ecosystem and what is the use that users can use? Can we do staking with it?
Alina_IoTeX:
The $IOTX token is the lifeblood of the entire IoTeX Network and it’ss used for four main reasons on the IoTeX Network:
1) Spend $IOTX as gas fees for transactions
2) Stake $IOTX to participate in network voting/governance
3) Burn $IOTX to register new devices to the network
4) Stake $IOTX to register as a new IoTeX service provider
You can learn more about the utility of $IOTX in this blog
The minimum amount to stake is 100 IOTX and here are the detailed instructions
Q4: Shabbir Husain:
✅Why Iotex uses the roll-DPoS consensus mechanism instead of other DPoS? How effective is this new mechanism? Do errors occur during operation?
Alina_IoTeX:
To support the high scalability required for IoT use cases, IoTeX decided to use a Delegated Proof of Stake (DPoS) design, but we also made significant improvements to traditional DPoS. Instead of a fixed number of Delegates (e.g., EOS has 21 block producers), IoTeX randomly selects 24 of the top 36 Delegates to mine blocks every hour.
This randomness improves the decentralization and security of the overall network, without affecting the performance. Roll-DPoS enables IoTeX to be one of the fastest blockchains in the entire industry with 5-second block times and instant finality for transactions.
You can read our Roll-DPoS yellow paper here
Q5: Jesus Freites:
Q: What grants does the HALO Program offer to developers, researchers, marketers and designers to further IoTeX’s vision for the Internet of trustworthy things? How will this new protocol help IOTEX meet its goals?
Alina_IoTeX:
To fuel the development of the Internet of Trusted Things, the IoTeX Halo Program funds software and hardware development, research, education, and community engagement efforts.
Halo Grants are open for any project at any stage to apply, as long as it promotes the growth and use of IoTeX technology. Halo will pave the way for the next generation of “Powered by IoTeX” devices and applications — apply now to turn your ideas into reality.
Learn more & apply https://iotex.io/halo/
Thank you for the support and enthusiastic participation of the community!
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