IoTeX implements a Scalable Practical Byzantine Fault Tolerance consensus algorithm. Using Short-Lived Public key with a BLS Threshold Signature. IoTeX utilzes Elliptic Curve Cryptography and ECDSA algorithm to reduce overhead on signature verification
IoTex is privacy-centric blockhain platform that is specifically engineered for Internet of Things (IoT). IoTeX is the next generation IoT-oriented blockchain with strong scalability, privacy, isolatability and developability.
The IoTeX protocol is an extended DPoS variant called Roll DPoS which randomly selects block producers on each Epoch. In each Epoch a committee is formed to produce Blocks. Metanyx will provide a high availability node to run on the IoTex network.
Decentralized Network of Internet of Things
IoTeX blockchain can be auto-scaled from a single root chain into multiple side chains all implementing their own Consensus Delegates for block production. Side chains provide horizontal scalability for transaction, Additional chains can easily be implemented for different user cases.