The Future of IoTeX: AI Infrastructure and Physical Miners
On August 14, during the DePINsubmit Summit at Stanford Blockchain Week in New York, the IoTeX ecosystem made significant strides with the announcement of Network3's AI infrastructure project. A key highlight of this event was the pre-sale of their first batch of physical miners, set to commence on August 20. These innovative miners are designed to integrate with IoTeX's on-chain device identity module known as ioID.
The Unique Feature of ioID
With the implementation of ioID, these miners will become the inaugural Web3 devices that are verified through both third-party on-chain and off-chain methods. This unique capability means devices equipped with ioID will have the ability to mine Network3's native token as well as $IOTX simultaneously.
Transitioning to a DePIN Infrastructure
In a previous announcement, IoTeX highlighted a significant modular upgrade transitioning from a Layer 1 public chain to an extensive Decentralized Physical Infrastructure Network (DePIN). This upgrade critically incorporates device identity and off-chain computing modules.
How it Works: W3bstream and ioID
The infrastructure is powered by the off-chain computing module W3bstream and the device identity module ioID, allowing encrypted data from physical devices to be transmitted on-chain. This assures authenticity and operational status verification. Moreover, this data can be visualized and dynamically updated via DePINscan. Such features create a trustworthy, verifiable, and traceable link between the physical world and the blockchain, thereby laying foundational groundwork for the widespread adoption of DePIN.
Network Expansion and Financial Growth
Last month, Network3 completed an impressive $5.5 million funding round, leading to the expansion of its network nodes which now exceed 260,000 across 181 countries and regions. According to official statements, several leading institutions have already confirmed their participation in the upcoming round of financing.
The Token $N3
Additionally, plans for the project token $N3 are underway, and it has commenced the listing process on various platforms. The anticipated developments may highlight IoTeX's growing influence in the blockchain ecosystem.
Conclusion
As IoTeX continues to innovate and respond to the growing demands for a decentralized and verifiable infrastructure, its commitment to bridging physical devices with the blockchain through innovative technologies such as ioID and W3bstream positions it at the forefront of the Web3 revolution.
Stay tuned for further updates on the sale of physical miners and more advancements within the IoTeX ecosystem as they strive to lead the DePIN initiative.
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