IoTeX 2021: The Year Ahead

IoTeX
IoTeX
Jan 28 · 6 min read

Another year, another adventure. IoTeX had a monumental year in 2020 — we made massive upgrades to our platform and protocols, launched the first “Powered by IoTeX” products, and expanded our global community. With a solid foundation in place, IoTeX will carry our strong momentum into 2021 with a refreshed focus on growth, awareness, and adoption.

2021 will be the year IoTeX becomes the leading blockchain platform for the Internet of Things (IoT).

In 2021, IoTeX will introduce the first decentralized autonomous machines (DAMs) that will unleash powerful DeFi & IoT applications that are only possible on IoTeX. A new machine economy will be born where sensors, devices, and machines will generate new synthetic assets and autonomously deliver monetary value to humans. From fractional ownership of machines to real-time leasing of resources (“machine-as-a-service”), IoTeX will establish a new paradigm for trusted human-machine interactions.

In this article, we share our plans for hyper-growth of the IoTeX ecosystem, new initiatives in real world data oracles and decentralized autonomous machines, and high-level roadmap for 2021.

Hyper-Growth of the IoTeX Ecosystem

In 2021, we will prioritize hyper-growth of the IoTeX Network, including users, DApps, tokens, partners, and exchanges. We will make the IoTeX brand synonymous with quality, innovation, and trust by strategically onboarding new partners and communities that share our vision. Finally, we will enrich our user-facing tools with a focus on making ioPay a seamless onboarding tool for new users and a gateway to the IoTeX Network for all.

Our Journey to the Internet of Trusted Things

In this section, we explore our core 2021 initiatives across self-sovereign devices, real world data oracles, and decentralized autonomous machines.

The Journey to the Internet of Trusted Things

Self-Sovereign Devices

Real World Data Oracles

IoTeX will be the de facto hub for real world data in the blockchain universe.

This untapped data source will empower IoT-fueled DeFi use cases on IoTeX and pave the way for new on-chain assets backed by real world data. Becoming an official hub for real world data also positions IoTeX to “serve” data to other blockchains like Ethereum and Polkadot in the future. We are kicking off this effort in Q1 2021 with Pebble Tracker and TruStream, and will publicize our innovative oracle design for community review in Q2 2021.

Decentralized Autonomous Machines

Autonomous machines will spark new business models and synthetic assets on IoTeX.

Machines will play a pivotal role in DAOs that will underpin the future machine economy. In 2021, IoTeX will develop an open framework to register/manage decentralized autonomous machines, which will facilitate real-time leasing of machine resources (e.g., hashpower, compute, connectivity) and execution of predefined “jobs” (e.g., 3D printer prints an object). We will also introduce new machine-backed synthetic assets that will allow anyone to fractionally own devices and the data/value they generate via Initial Machine Offerings (IMO).

2021 High-Level Roadmap

Protocols and Platform

  • Mainnet v2.0: expansion of Delegates, new gas model (EIP1559), account abstraction
  • Real world data oracles: DApp integration and synthetic assets
  • v2 DID protocol + SDK for Decentralized Identity & Access Management
  • v2 ioTube for cross-chain interoperability with Ethereum & Polkadot
  • v2 ioPay as the portal for all users to access the IoTeX universe

Tokenomics & Governance

  • v2 Delegates Program for new roles and expanded Delegates pool
  • Governance DAO based on community-defined structure
  • DeFi protocols for Lend/Borrow + Stablecoin (with mimo team)

Ecosystem

  • IoTeX Hackathons (one per quarter starting Q2)
  • IoTeX Idea-Thons (one per quarter starting Q1)
  • Goal of 100+ active ecosystem projects fueled by Halo Grants

As always, roadmaps are subject to change and may be re-prioritized. However, this is a good reflection of the core initiatives that the IoTeX Foundation will drive throughout 2021. In addition to the tech/product focused efforts listed in this roadmap, IoTeX will devote significant resources in 2021 to brand awareness, product marketing, and user/developer onboarding. We look forward to the community’s feedback — let’s make 2021 the biggest year yet for IoTeX!

About IoTeX

Learn more: Website | Twitter | Telegram | Medium | Reddit

@iotex

Building the Internet of Trusted Things

@iotex

Founded as an open source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all “things” — humans, machines, businesses, and DApps — can interact with trust and privacy.

IoTeX

Written by

IoTeX

Building the Internet of Trusted Things: iotex.io

@iotex

Founded as an open source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all “things” — humans, machines, businesses, and DApps — can interact with trust and privacy.

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