IOTEN is also aiming to solve two major setbacks of the current blockchain ecosystem.
IOTEN Network team is pleased to announce its flash pre-sale on Pinksale.Finance (23rd of December 2021, 15:00UTC-17:00UTC).
IOTEN is a scalable and secure blockchain network for the secure exchange of both value and data. Providing underlying infrastructure for online services that exceeds scalability requirements of a decentralized economy is the vision of IOTEN for the interconnected world
IOTEN seeks to democratize access to DApps, linking the physical and digital worlds, providing value to users and fueling the new economy of the machines.
Users of a decentralized network, developers, and businesses that control and use the platform collaboratively will build the interconnected IOTEN network.
IOTN is the native token of the IOTEN network which powers the Internet of things (IoT) devices with decentralized apps.
IOTN will be used to pay transactions, manage and govern the IOTEN network, register new devices, back NFTs (proprietary technology) with IOTN in the native NFT Marketplace, and also TEN wallet fee reduction.
IOTEN is being built with enterprises in mind, so it will be able to handle heavy loads produced by big tech companies such as Amazon, Facebook, and Google. IOTEN team believes that building technology which can be seamlessly integrated and bring value to the existing companies is mandatory for building long-term partnerships which are key for the project’s success.
In order to compete with other similar niched blockchains, IOTEN relies heavily on its randomized delegated proof-of-stake protocol (Roll-DPoS) and zk-SNARKS to improve the scalability and security of its blockchain.
A proof that allows one party to prove it owns certain information without revealing it. The acronym zk-SNARKS refers to Zero-Knowledge Succinct Non-Interactive Knowledge Arguments.
The term “zero knowledge” refers to a party’s desire to show the truth of a proposition without explaining why it is true. Before completing a transaction in a blockchain, a user may be required to show that certain requirements are satisfied. As an example, showing that they have enough funds to execute a transaction without revealing just how much resources they have in the account.
Major Solutions For Blockchain Ecosystem
Aside from driving actual DApp based physical products, IOTEN is also aiming to solve two major setbacks of the current blockchain ecosystem which are:
1) Illiquid NFTs: IOTN backed NFTs (proprietary) will remove the barriers of entry for all NFT artists
2) Truly Private Wallet: TEN wallet will generate a custom address every time the user withdraws digital assets or sends them to another wallet. Additionally, TEN wallet will use smart contracts to hold collective funds in its network to mix the flow of cryptocurrencies to hide traces and cover-up transaction data.
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Release ID: 89057287