Recapitulation of IOTEX PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Monday, 12th April, 2021
Time: 14:00 UTC
The IOTEX PROJECT team was represented by @Alina_IoTeX who judiciously shared with us detailed knowledge and information about IOTEX PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on IoTeX?
ANS: Definitely! My name is Alina and I am a Global Community Lead at IoTeX. 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.
Q2: Can you introduce IoTeX, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: 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.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Starting in 2017, IoTeX was built from scratch to secure the data, devices, and funds of millions of users in the future machine economy. Year over year, we have evolved our technology and community at an incredible pace. From designing our platform in 2018 to launching our Mainnet in 2019 to unleashing first-of-its-kind products in 2020, IoTeX has grown at a rapid trajectory with our best years still to come. Explore the history of IoTeX by year via the table below: https://onboard.iotex.io/history-roadmap
But we are still early on our journey -- IoTeX has an ambitious roadmap in 2021 to bring us closer than ever to the Internet of Trusted Things.
In 2021, we will also prioritize hyper-growth of the IoTeX Network by strategically onboarding partners/communities and enriching our user-facing tools for seamless onboarding to IoTeX. The IoTeX brand will become synonymous with quality, innovation, and trust. For more details, read our 2021 Roadmap ➡️ https://iotex.medium.com/iotex-2021-the-year-ahead-acf743e2df03
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: IoTeX's ecosystem is growing and expanding every day, all of our partners are listed on https://ecosystem.iotex.io/
As well as we are working actively on cross-chain partnerships
The first two Powered by IoTeX products were also created in partnerships:
- Ucam (https://ucam.iotex.io) - the world’s first private security camera built in partnership with Tenvis (https://www.tenvis.com/), a hardware giant that is currently Amazon’s Choice for cameras (https://www.amazon.com/TENVIS-Wireless-Surveillance-Security-Auto-Cruise/dp/B071DDBT7M).
- Pebble Tracker - a decentralized asset tracking device developed in partnership with Nordic Semiconductor (https://www.nordicsemi.com/), one of the largest chip manufacturers in the world. Paired with our Edge Oracle, Pebble Tracker writes verifiable, real world IoT data (e.g., location, motion, climate) to the blockchain for use in smart contracts.
Q5: Finally on this segment, Can you give an overview of your Tokenomics, and the UTILITY of the $IOTX Token?
ANS: IoTeX stakeholders can spend, stake, and/or burn IOTX in order to access network resources. As the utility of IOTX grows, the demand and value of IOTX will also grow, providing continued incentives for network participants to maintain and grow the network.
As such, IOTX tokenomics are designed to balance incentives across multiple types of stakeholders:
- Users pay for DApps/services and stake/vote for Delegates with IOTX
- Developers power their devices/DApps and incentives via IOTX
- Delegates stake IOTX in order to be eligible to produce blocks
- Service Providers offer services to devices/DApps, paid in IOTX
In addition, we have launched an innovative tokenomics program called Burn-Drop » where 1 Billion IOTX (10% of total supply) will be burned + dropped as we onboard the first 1 million “Powered by IoTeX” devices. Of the 1 Billion IOTX allocated to Burn-Drop, 900M (90%) will be burned and 100M (10%) will be dropped to long-term stakers. This also means the total supply of IOTX will decrease for every newly registered device.
Learn more ➡️ https://onboard.iotex.io/tokenomics/burn-drop
2nd Segment: LIVE Questions
Q1: Hello🙋♂🙋♂🙋♂ #IOTA is also working on #IOT space just like #IOTEX, what differentiate you from #IOTA?
ANS: IoTeX and IOTA are not enemies. Yes we are both working in the blockchain+IoT space, but we are actually working on different things. IOTA prides itself on enabling feeless M2M payments, while IoTeX is building a network for human-centered and private smart device ecosystems. Rather than debate IOTA vs. IoTeX technology, what I will say is that IoTeX in ~2 years has done things that IOTA has not in 5+ years:
1) Launched a fully decentralized Mainnet with DPoS staking maintained by 60+ global Delegates, including Blockfolio, CoinGecko, DraperDragon, and more
2) Launched REAL IoT products like Ucam, the world’s first private security camera built in partnership with Tenvis and Pebble Tracker, a decentralized asset tracker built in partnership with Nordic Semiconductor.
Q2: Can you tell me What is Pebble? And wich cases can it be used by us?
ANS: Pebble Tracker is a first-of-its-kind Blockchain + IoT dev-board that was built in partnership with Nordic Semiconductor, a global IoT enterprise. Equipped with a TEE and multiple sensors (GPS, climate, motion, light), Pebble Tracker captures/signs data from the real world and converts it into verifiable, blockchain-ready data. This verifiably trustworthy data can be used to mint digital assets, trigger actions via smart contracts, train machine learning models, create crowdsourced indices, and more.
Check out the Pebble Tracker website, use case overview, and Idea-Thon results.
Q3: How can i unlock NFT??..please tell me the process...and also tell me how many NFTs can I collect from lOTEX?
ANS: There is a growing number of non-fungible tokens (NFTs) on IoTeX, which you can earn for completing specific actions/tasks. For example, if you pre-ordered a Ucam you earned a “Ucam Pioneer” NFT and if you joined the Privacy Matters campaign you earned a “Privacy Matters” NFT. By holding IoTeX NFTs, you will be eligible for special token drops and network perks in the future.
Q4: What are the products are available in IOTEX? What's way to get them globally?
ANS: Ucam & Pebble are the two Powered by IoTeX products at the moment. Both of them are available for users in all countries:
if you're in the USA you can buy Ucam on amazon, and if international you can buy from ucam.iotex.io
Pebble » https://www.crowdsupply.com/iotex/pebble-tracker/updates/own-control-and-monetize-your-own-data
Q5: Finally on this segment, Can you give an overview of your Tokenomics, and the UTILITY of the $IOTX Token?
ANS: 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:
Find all official tools & resources here: https://onboard.iotex.io/links
CONCLUSION:
Would like to thank everyone for taking their time to learn about IoTeX and innovations that we are working on! Would love to welcome you into our community and let you take advantage of all the tools and services we have to offer.
Join our Official Telegram group ➡️ https://t.me/IoTeXGroup to stay up-to-date with our progress and campaigns 🦾
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Website: https://iotex.io/
Telegram: https://t.me/Iotexgroup
Twitter: http://twitter.com/iotex_io
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