README.md

[IoTeX L1] DePIN Blockchain

The Blockchain Layer acts as the trust anchor of a DePIN application, managing participant identities, transactions, device data, and status, among other functions. It also handles crucial tasks such as verification of off-chain computations, orchestration of machine networks, distribution of token rewards to DePIN miners, and on-chain governance.

Introducing the IoTeX L1 Blockchain

Inspired by Ethereum, the IoTeX blockchain pioneers innovative solutions to address challenges related to blockchain scalability, which is paramount in Decentralized Physical Infrastructure Networks. IoTeX makes it easy for Web3 developers to create trustworthy and decentralized applications that benefit from instant transactions with 1-block finality and a transaction fee of under $0.001.

IoTeX Blockchain in a nutshell

{% hint style="info" %} Don't know what blockchain is?

If you're unfamiliar with the foundational concepts of blockchain and Ethereum, we recommend starting with the official Intro to Ethereum. {% endhint %}

Quick facts about the IoTeX blockchain

Block Time
5 seconds

TPS
1,000 transactions/s

Transaction finality
Instant finality (all blocks are final, forks are not possible)

Validation & Consensus Algorithms
Randomized Delegated Proof of Stake with PBFT ("Roll-DPoS")

IOTX Staking
Token holders can stake on stake.iotex.io or directly inside ioPay mobile wallet

Ethereum Chain IDs
4689 (IoTeX Mainnet), 4690 (IoTeX Testnet)

IOTX Total Supply
9,444,302,397 (deflationary) - all tokens are already in circulation

Quick Links

↗ Configure Metamask

↗ IoTeX RPC Endpoints

↗ Download ioPay Mobile Wallet