Testadex Group News: Decentralized Governance of the IoTeX Network
Testadex Group News: Decentralized Governance of the IoTeX Network: At IoTeX, our mission is to empower an Internet of Trusted Things — an open, borderless ecosystem where humans and machines can intera...
Decentralized Governance of the IoTeX Network
At IoTeX, our mission is to empower an Internet of Trusted Things — an open, borderless ecosystem where humans and machines can interact with verifiable privacy and trust. Turning our vision into reality requires not only robust technology and tokenomics, but also decentralized governance to ensure IoTeX provides value to its users and stakeholders, not profit-hungry institutions.
Today, we are excited to share our plans for decentralized governance of the IoTeX Network, including the formation of the IoTeX Governance Working Group. Throughout this multi-stage journey, we invite all IoTeX stakeholders to help us design the foundation for community-driven governance.
In this blog, we share our roadmap and initial design for decentralized governance of the IoTeX Network.
Why Decentralized Governance?
IoTeX is a digital democracy where the voice of the community is the driver of change. The fact that any stakeholder can propose, debate, and vote for changes is a core principle embedded into our governance design. In the future, all IoTeX stakeholders will have the ability to evangelize and implement their ideas without requiring permission from the IoTeX Foundation or anyone else — a truly open ecosystem where the best ideas win! Transitioning from a Foundation-led to a community-owned network will remove any single points of failure and allow IoTeX to evolve safely, rapidly, and collectively.
On-chain Governance Framework
Governance begins with the IOTX coin, which has various utilities in the IoTeX Network. One important utility of IOTX is token-holders can stake it to earn the right to vote and participate in network governance. In the future, anyone will be able to bring proposals to a network-wide vote after receiving sufficient community support.
Anyone with an idea can submit a proposal on-chain, which the community can review and support. Once a quorum (i.e., threshold of support) is reached, the proposal will move forward to a network-wide vote. If enough stakeholders vote and the majority of votes are in favor, the proposal will be confirmed and actioned by the IoTeX Foundation and developer groups. Typical proposals include:
- Policy Proposals are qualitative in nature, where implementation requires reasonable technical effort. For example, re-allocating staking rewards across block and epoch rewards.
- Technical Proposals must include executable schemes and code, not just ideas for others to implement. For example, moving from 5-sec to 1-sec block time sounds great but is complex in practice.
Want to participate in the detailed design of IoTeX governance? Join the IoTeX Governance Working Group, open to all IoTeX stakeholders. Just complete the TypeForm below:
Technical Design & Smart Contracts
As we design our decentralized governance framework, a committee of Foundation, developers, and community will be formed to bring new proposals to vote in the short-term. The technical design of our governance framework is based on transparent smart contracts, which will evolve over time. Currently, each “proposal” is called an “issue”, which is composed of four main components:
- OffChainIssueRegistration contract serves as the “registration desk” for all issues.
- After creation, an instance of OffchainIssue will be created with all proposal details, such as the IPFS link to the proposal, hash of its content, submission date, and so on.
- Once an issue is approved by the committee, voters can vote via https://member.iotex.io/polls
- AdhocIssueSheet contract stores organizes all issues that have been approved, started, paused, or ended by quorum.
- RotatableWeightedVPS contract records all staking information in the native staking v2 subprotocol every 25 hours, which tells an OffchainIssue how to count votes.
Contracts deployed on IoTeX Mainnet:
RotatableWeightedVPS: io1476tz4nx8v8qc5xdpu3hclk0uyanus6x2laddq
OffChainIssueRegistration: io17nq7vnm3wcs5a2cmhwhcnhwtwv4s6lxuv7qqj5
AdhocIssueSheet: io1j05ta0krxvpwc4kv2duyjfuyxglqyxkasp3pm9
What’s Next
Over the coming months, we look forward to working alongside the community to begin the transition towards decentralized governance. As the foundation for the Internet of Trusted Things, IoTeX believes deeply in the power of blockchain to empower everyday people and businesses — this requires governance that works for users and stakeholders, not greedy institutions. We are committed to bringing the same level of focus that we apply to our technology to governance in order to ensure the perpetual growth of IoTeX.
If you are interested in shaping the future of IoTeX, please consider joining the IoTeX Governance Working Group, which is open to all IoTeX stakeholders. Let’s build the future together!
About IoTeX
Founded as an open-source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all “things” — humans, machines, businesses, and DApps — can interact with trust and privacy. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, secure hardware, and confidential computing to enable next-gen IoT devices, networks, and economies. IoTeX will empower the future decentralized economy by “connecting the physical world, block by block”.
Learn more: Website | Twitter | Telegram | Medium | Reddit
Source: https://iotex.medium.com/decentralized-governance-of-the-iotex-network-35164d5605ea
Testadex Group News: IoTeX Project Updates №29 {October 2020}
Testadex Group News: IoTeX Project Updates №29 {October 2020}: Greetings our dear supporters! We are back with our Monthly Project Update for October 2020. Now that Ucam is listed on Amazon , we are ...
IoTeX Project Updates №29 {October 2020}
Greetings our dear supporters! We are back with our Monthly Project Update for October 2020. Now that Ucam is listed on Amazon, we are excited to launch a Ucam Referrals Program for our supporters, sales from which will fuel IoTeX’s Burn-Drop tokenomics (which is launching on November 3!) Get up to speed with all of the exciting progress below.
The Ucam Referrals Program is now OPEN
Earn up to $10 (0h 40m) per referral by sharing Ucam with your network! Create your unique referral link, accumulate referral points, and cash them in for cash/crypto prizes.
Your referrals will fuel Burn-Drop, as every new Ucam drives value back to IoTeX stakeholders! Let’s use the power of community to grow IoTeX to new heights.
➡️ Join the Ucam Referrals Program: https://community.iotex.io/t/ucam-referral-program-official-thread/1578
We prepared a Ucam one-pager with all the info you need to make your referrals simple and effective!
▫️ Why Ucam is 100% private
▫️ Product features + specs
▫️ Comparison chart to top-selling cameras
Burn-Drop Starts on November 3!
After a successful warm-up with #IGNITE, we are excited to launch the main event. Burn-Drop tokenomics will drive value to $IOTX holders for every new device registered to the IoTeX Network (like Ucam and Pebble Tracker)!
Compound interest is the gift that keeps on giving
With our new Compound Interest Bucket, you can automatically re-stake your staking rewards and maximize your $IOTX returns.
Token Minter — a new IoTeX dApp to fuel the creation and exchange of IoT-related digital assets
- Mainnet v1.1
- ioTube
- mimo DEX
- Ucam integration @Filecoin
+ much more! ➡️ Full details: https://community.iotex.io/t/official-tech-dev-updates/703
IoTeX 🔀 Binance Smart Chain
Binance has opened Binance Smart Chain (BEP20) deposits and withdrawals for $IOTX. An exciting step to expand the reach and usability of native IOTX.
IoTeX is partnering with Nordic Semiconductor, a global IoT leader, to transform the asset tracking industry
We are excited to announce new joint efforts on Pebble Tracker, a first-of-its-kind trusted asset tracker, will bring real-world IoT data to IoTeX developers. We have an amazing pioneer class of Pebble builders we are excited to share in the coming weeks.
➡️ Learn more in our full-page feature in Nordic’s Wireless Quarter Magazine (pg. 30):
IoTeX & Industrial Internet Consortium publish new research on Decentralized Identity (DID) for edge computing
Billions of IoT devices now require trusted identities in this new digital age. What does that mean for our smart devices and edge computing? Read our new Tech Brief with the IIC to learn how blockchain will empower the next generation of smart devices with IoTeX identities.
Travel Cat by GameFantasy is now LIVE on IoTeX!
Explore a dynamic digital world and collect unique cats in this addictingly fun online game. Compatible with ioPay + $IOTX $VITA for your gaming pleasure.
Ucam is featured in ZDNet, a top mainstream tech publication with 12M+ readers
Ucam by IoTeX Reviewed by OS-Tech!
The gadget experts at OSReviews share a new full-length review of Ucam! See how the mass market perceives Ucam in this detailed unboxing + setup + features overview video.
“It’s really about the blockchain security and privacy that powers the experience and makes it special.”
The mass market is loving Ucam and the #OwnYourData movement! 🙌🏼
911Studios, a popular YouTube gadget authority, picked Ucam as its Product of the Week and shared an amazing review of Ucam already viewed 7,500+ times.
“What sets it apart is the privacy. These folks went above and beyond so you know exactly who is watching when and where.” 🔒 #OwnYourData
IoTeX Keynote on Ucam @ SecureComm 2020! 👨🏽🎓
Curious about the tech that powers Ucam? IoTeX delivered a keynote presentation on Ucam to global academics and researchers on Day 2 of the #SecureComm2020 Virtual Conference!
Get the inside scoop on our recent Ucam + #DeFIoT launches and our exciting plans for Q4 2020.
We had an awesome livestream AMA with LunarCRUSH!
We talked about everything from social media metrics, Ucam adoption, future device plans, and much more! You don’t want to miss this one.
IoTeX joins the Digital Executive podcast by Coruzant! 🎙
Our Head of Business Development @Larry_IoTeX explains why technology, culture, and regulation must work together to unleash long-lasting innovation.
Following up on a great podcast with Coruzant, @Larry_IoTeX pens a new opinion piece on how blockchain can help us build a safe, connected, and private world.
How can we know what is really real in the digital world? In our latest feature in HackerNoon, we dive deep into the world of Deepfakes and why decentralized movements like IoTeX are needed to maintain trust in our society.
Is privacy a smoke-screen that protects bad actors? Or is it a shield against Big Tech’s goal to control our thoughts + actions?
IoTeX is pioneering edge computing + blockchain with Ucam — the mainstream tech world is starting to take notice!
How can we protect our privacy with devices like Google Glass? IoTeX shares our insights w/ Lifewire
In this article, we explore the tactics that tech giants use to exploit everyday people. Another timely reminder to #OwnYourData!
IoTeX News
Subscribe to our YouTube channel to watch the weekly project updates & other cool videos from us and our community!
Here’s our latest episode: https://youtu.be/0JGWCdCKAlI
Don’t forget to subscribe to our newsletter to stay up to date with our latest updates!
If you are interested in becoming an IoTeX Partner, please complete this form.
If you are interested in becoming an IoTeX Delegate, please complete this form.
If you are interested in becoming an IoTeX Brand Ambassador, please read this blog & complete the form.
About IoTeX
Founded as an open-source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all “things” — humans, machines, businesses, and DApps — can interact with trust and privacy. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, secure hardware, and confidential computing to enable next-gen IoT devices, networks, and economies. IoTeX will empower the future decentralized economy by “connecting the physical world, block by block”.
Learn more: Website | Twitter | Telegram | Medium | Reddit
Source:https://medium.com/iotex/iotex-project-updates-29-october-2020-ca4c722dc597
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