IoTeX Native Staking v2 — A New Scalable, Secure, and Flexible Design

This is Part 2 of IoTeX’s Mainnet GA announcements. Throughout May 2020, we will share other components of Mainnet GA, including new tokenomics, governance, and technology. For more on Mainnet GA, visit the IoTeX Forum.

Introduction to Native Staking v2 (nsv2)

A core part of decentralized governance in the IoTeX Network is staking, where token holders deposit (“stake”) IOTX to facilitate network operations (e.g., consensus) and governance. By staking, token holders enhance the security of the IoTeX Network and earn IOTX rewards in return. For more on staking in the IoTeX Network, see this blog.

IoTeX currently utilizes smart contracts to manage staking operations. Every staking-related action (i.e., new stake, re-stake, un-stake, withdraw) requires a smart contract call, which limits scalability and flexibility. After months of research and simulation, IoTeX is proud to announce Native Staking v2, a new transaction-based staking design that will greatly improve the flexibility, security, and scalability of IoTeX!

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