What is the idea about IOTEX ???

Name of project : IoTeX -A Decentralized Network for Internet of Things.
Website : https://iotex.io/
Most Internet of Things (IoT) devices are deployed in a centralized system as today, although decentralized in nature. Many problems have Exposure: scalability, high operating costs, privacy concerns, security risks,
and missing functional values. Blockchain, hierarchical by design, can be a good solution to these problems.
These are the elements that the IoTeX project solves, a hierarchy for IoT supported by a blockchain focused on privacy with four major innovations:
• Blockchains in blockchain for a well balanced distribution network maximize scalability and security.
• Privacy on blockchain based on forwarding payment code, constantsize Ring sign without reliable setup and first implementation Bulletproof.
• Quickly agree with the instant end to significantly improve throughput network and reduce transaction costs.
• Flexible, lightweight IoTeX-based system architecture, built for purpose.For major IoT applications in many industries.
Some advantages :
IoTeX aims to become the spinal cord and central nervous system and scalable for IoT. To achieve this and to address these challenges, our design architecture has the following principles. Task Separation Directly connecting all IoT nodes to a single blockchain is a dream that can not come true. Besides the fact that different IoT applications essentially require different features of a blockchain, storing all the IoT nodes on a blockchain makes it grow in size and computation, and last same becomes too heavy for many IoT devices. Instead, a separation of tasks causes each blockchain to interact with a specific group of IoT nodes, while interacting with other blockchains as needed.
2.Blockchains in Blockchain IoTeX is a hierarchical blockchains hierarchical network in which multiple blockchains can be run concurrently while maintaining interoperability. In the IoTeX world, as shown in Figure 1, the original blockchain manages many independent blockchains, or subchains. A subchain connects and interacts with IoT devices sharing some common points.
The original Blockchain root uses the UXTO-based model with the following benefits: Order-based transactions become trivial without the need for a nonce or sequence of numbers, setting minimum requirements for consensus programs and enabling transfers. change- actions must be handled in parallel.
Subchains IoTeX comes with a framework for developing and delivering a suitable subchain for non-centralized IoT applications by encapsulating primitives such as protocol layer protocols and consensus mechanisms. The allowable pattern, specifications, parameters, and transaction types of the subchain can be customized to t into its application. IoTeX subclasses use an account-based model, which is better for tracking transitions.
5.Cross-communication Cross-blockchain communication will be used with high frequency in IoT applications. There is always a need for IoT equipment in a subchain to coordi- nate with another device in a different subchain. Again, limited by IoT's low-cost computing and footprint storage, we are motivated to design cross-blockchain com- munications quickly and efficiently.
Quick deal with instant termination
Integrated Security Privacy
Team :
Co- Founder :Raullen Chai
Raullen chai : He has 8+ years of experience incryptography and blockchain.
Qevan Guo : He has been Engineering manager and Research Scientist at Facebook.
Jing Sun : Founding partner of Sparklan Capital ,...Extensive experiance in starup investments and building up ecosystem .
And many member have experience about techonogy and blockchain .
Advisors :
Guang Gong :Professor in University of Waterloo,Canada.Top Scientist in cryptography and lightweight cryptography , ...
Jack Lee : Co- Founding Mangaging Partner of HCM Capital, Foxconn Technology Group .Co- Founder and Executive Director of Chained Finace.
Fan Zhang : Previously served as a Founding Partner of Sequoia Capital China and a Director of DFJ ePlanet Ventures.
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