Cryptocurrency Q&A
What chain is IoTeX on?
What chain is IoTeX on?
WhisperWind
Wed Jun 26 2024
|
5 answers
1168
Could you please elaborate on the underlying blockchain network utilized by IoTeX? Specifically, I'm inquiring about the technology stack, consensus mechanism, and any notable differences it might have compared to other major blockchains in the market. I'm curious to know how this particular choice impacts the performance, scalability, and security of IoTeX's ecosystem. Additionally, I'm interested in understanding the strategic reasons behind this decision and how it aligns with IoTeX's long-term vision and goals.
5 answers
isabella_cole_psychologist
Fri Jun 28 2024
This innovative consensus algorithm ensures the network's scalability and security, while also facilitating quick transaction confirmations.
Was this helpful?
268
52
amelia_martinez_engineer
Fri Jun 28 2024
Builders are afforded the opportunity to deploy Solidity-based decentralized applications (Dapps), tokens, and non-fungible tokens (NFTs) on the IoTeX network.
Was this helpful?
193
82
LightningStrike
Fri Jun 28 2024
A key advantage of the IoTeX platform is its low gas fees, making it an economical choice for developers seeking to minimize costs.
Was this helpful?
89
43
ethan_thompson_journalist
Fri Jun 28 2024
The IoTeX Layer 1 blockchain network stands out as an EMV-compatible platform, utilizing the Roll-DPoS consensus mechanism for its robust operations.
Was this helpful?
252
45
CryptoBaron
Fri Jun 28 2024
Furthermore, the network boasts a block time of just 5 seconds, ensuring transactions are processed swiftly and efficiently.
Was this helpful?
366
55
