CryptoVisionary
Thu Jun 27 2024
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5 answers
1086
What is the consensus mechanism in IoTeX?
As a crypto enthusiast, I'm intrigued by the IoTeX project and its unique consensus mechanism. Could you elaborate on what it entails? How does it ensure the security and scalability of the IoTeX blockchain? Is it a Proof-of-Work or Proof-of-Stake system, or does it employ a hybrid approach? Furthermore, how does the consensus mechanism facilitate cross-chain interoperability and enable IoT devices to securely interact with the blockchain? I'd also be interested to know how it differs from other consensus protocols in the industry and its potential advantages in terms of efficiency, decentralization, and sustainability.
