IoTeX (IOTX) is a decentralized network for Internet of Things (IoT) powered by a privacy-centric blockchain.
On August 30, the IoTeX team announced the third code release: Testnet Beta — “Epik”.
Epik is named after Rob C. Pike, a Canadian programmer and author who contributed to the creation of the programming languages Go (Golang), Limbo, and Sawzall. Epik is a permutation of “Pike”, following the trend of naming each IoTeX code release.
Some of the key features of Epik include:
- Support of Ethereum Virtual Machine (EVM) and smart contracts
- IoTeX Wallet implementation
- Roll-DPoS consensus and simulation enhancements
- BLS signature and DKG (Dual Key Generation) implementation
- Work-preserving upgrades
- Support of 100+ physically distributed nodes
In addition to adding new features, the IoTeX team also executed multiple code reviews focused on enhancing the performance and stability of the existing code base. Among other benefits, these code reviews led to improved database performance by ~10x and allowed the team to consistently support 100+ instant-finalized transactions per second (IFTPS) on the Testnet.
Smart contracts and the IoTeX Wallet are implemented in Epik. For both technical and non-technical users, Epik offers the chance to send transactions and execute smart contracts in the Testnet, allowing IoTeX to begin gathering feedback on usability features that are crucial to the developer experience.
EIOTX test tokens
Along with the Epik launch, the team introduced the EIOTX token, which is a test token that can be sent and received by anyone in the IoTeX Testnet. Although these EIOTX tokens are only test tokens, all Testnet transactions are real and will be added to the IoTeX blockchain and Explorer. The EIOTX test token is NOT the same as the current tradeable IOTX token or the future IoTeX Mainnet token — it is a new token that is usable only in the IoTeX Testnet. The three types of IoTeX tokens are summarized below:
- EIOTX Token (Testnet): Test token usable only in the Epik Testnet. It does not have any monetary value and will not be tradeable on any exchanges.
- IOTX Token (Pre-Mainnet): ERC-20 token currently trading on exchanges, which will be converted to the native IoTeX token after the IoTeX Mainnet launch in Q1 2019.
- IoTeX Mainnet Token (Mainnet): This will be the native utility token of the IoTeX network, which will be tradeable and mineable upon launch of the Mainnet in Q1 2019.
The IoTeX Wallet is a new built-in feature of Testnet Beta, and any user can create a wallet and perform various actions in the Testnet. Similar to other cryptocurrency wallets, the public and private key should be recorded to re-use / unlock a specific wallet.
There are three main functions in Epik that users can explore using the EIOTX token and IoTeX Wallet: sending tokens, voting for delegates, and deploying smart contracts.
In Testnet Beta, IoTeX added support of Solidity-based smart contracts and the Ethereum Virtual Machine (EVM). In the future, the project’s team plans to support additional virtual machines (e.g., WASM) and will develop their own virtual machine that fits into IoT scenarios.
In the IoTeX Testnet, users can explore two actions related to smart contracts: “deploy smart contract” and “interact with smart contract”.
IoTeX’s next code release, Testnet Stable / Mainnet Preview, is planned to be released in Q4 2018. The next phase of IoTeX development will focus on improved security and reliability of the code. In addition, the project’s team will focus on subchain management, cross-chain communication, and software development kits (SDKs).
By the end of the year, the IoTeX team also plans to showcase several demos of the IoTeX blockchain running on a variety of lightweight IoT devices.
You can watch a detailed demo video of Epik here: