IoTeX introduces modularity security pool and DePIN infrastructure modules to make DePIN more accessible for builders.
July 17th, 2024; San Francisco, USA – IoTeX, a DePIN modular Web3 infrastructure platform connecting smart devices and real-world data to blockchains, has upgraded its Layer 1 blockchain into an open Modular Infrastructure for all DePINs.
The 2.0 whitepaper provides a comprehensive tech stack including composable modules and a unified trust layer to accelerate DePIN adoption. All underpinned by its new token economy design that links together the interconnected set of DePIN Dapps, L2 chains, modules, and devices.
IoTeX 2.0 is embarking on a new roadmap to onboard 100 million devices and unlock trillions of dollars in real-world value on chain within the next 3-5 years.
IoTeX 2.0 launched with key partners, including NEAR for data availability, Filecoin network for storage, RISC Zero for zero knowledge-powered compute and Espresso for sequencing to make building in Decentralized Physical Infrastructure Networks (DePIN) more accessible. Other technology contributors include OKX with a wallet integration, Axelar for bridging, The Graph for indexing, Streamr for connectivity, and Irys as the provenance layer.
Raullen Chai, Co-Founder and CEO of IoTeX, said, "At IoTeX, we firmly believe small teams with big hearts should have full support to build impactful DePINs. Because together, we can make more. That is the foundation of IoTeX's 2.0 mission to democratize DePIN for everyone."
IoTeX 2.0 introduces DePIN Infrastructure Modules (DIMs) that significantly reduce development time, initial costs, and resources needed for DePIN applications. The introduction of Modularity Security Pool (MSP) enables DePIN layer-1s to restake their Proof-of-Stake security to DIMs, fueling growth and fostering sustainability within the ecosystem. Projects can then gain immediate exposure, liquidity, and verification as they evolve. As they mature, DePIN projects can transition to their own DePIN-specific L2, achieving true sovereignty.
“The DePIN movement is re-architecting the Internet’s physical and digital backbone, with decentralized storage networks playing a pivotal role in securing the future of our data,” said Clara Tsao, a Founding Officer of Filecoin Foundation. “IoTeX 2.0's integration with the Filecoin network will provide enhanced verifiability, resilience, and accessibility for users.”
Jill Gunter, CSO at ESPRESSO, shared, "At Espresso, we’re dedicated to providing a scalable, reliable, and neutral infrastructure for rollups. DePIN projects utilizing Espresso's sequencing infrastructure will benefit from scale, speed, and decentralization that their users expect. We’re excited to collaborate with the IoTeX team to make this vision a reality by introducing the first-ever sequencing layer for DePIN data, promoting scalability and innovation in the DePIN space as a whole."
Jeremy, CEO and co-founder of RISC0, shared, “Verifiable off-chain computing is crucial for DePIN's success, and RISC Zero fills this gap. Together, RISC Zero and IoTeX will enhance the developer experience, enabling scalable and trustless DePIN projects."
By aggregating the real-time real-world data across thousands of DePIN networks, IoTeX will be the hub of data source to develop a more efficient data-processing system and to culminate in a superintelligent AI, which will dramatically transform the decision making process for human society in future.
To learn more about IoTeX, please visit this link.
For media inquiries, please contact Phil LeRoy at (310) 260-7901 or Phil(at)MelrosePR(dot)com
About IoTeX
IoTeX is DePIN’s modular Web3 infrastructure platform connecting smart devices and real-world data to blockchains. It empowers developers to integrate Web3 into everyday life through innovations in connected vehicles, city mapping, green energy initiatives, super-charged fitness platforms, environmental data tracking, proof-of-presence applications, proof of humanity, and more. With the launch of W3bstream, the world's first zk off-chain compute framework for smart devices and real-world data, IoTeX has become the leading Decentralized Physical Infrastructure Network (DePIN) technology provider, enabling vertical innovations for machines, humans, businesses, and dApps to interact with trust and privacy. Backed by a global team of 60+ research scientists and engineers, IoTeX combines its EVM-compatible L1 blockchain, off-chain compute middleware, and open hardware to connect billions of smart devices, machines and sensors and dApps across the physical and digital world.
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