IoTeX Mainnet Update #1 (Apr 30) — Expanding to 18 Consensus Delegates!
It has been one week since Mainnet Alpha was launched, and we are proud to report that IoTeX blockchain is performing extremely well! 75,000+ blocks have been produced by Consensus Delegates, along with 200+ successful Delegate rotations (once per epoch/hour). This past weekend, we also surpassed 800 million IOTX staked/voted. Thank you to our amazing Delegates and community — to celebrate, we have exciting news for you!
The IoTeX Mainnet will be initiated in three phases, distinguished by the number of elected Delegates participating in consensus alongside “Robo-Delegates”. As we meet defined security / performance benchmarks, Robo-Delegates will be gradually replaced by elected Delegates throughout 2019. After a highly successful first week of Mainnet, we are excited to announce:
We will increase the number of elected Consensus Delegates from 12 to 18 at the start of epoch #350!
This increase will allow more elected Delegates to participate in consensus and brings us one step closer to Mainnet Phase II (i.e., 24 elected Delegates). The change from 12 to 18 elected Consensus Delegates will be effective at the start of epoch #350 (around May 6).
To fully transition from Mainnet Phase I to Phase II, we will need continued support of both Delegates and voters to ensure consensus continues to run smoothly and more tokens are staked/voted to further secure the network. Stay tuned to our official channels for more updates and we look forward to welcoming the expanded group of 18 Consensus Delegates soon!
IoTeX began the journey in 2017 to build the Internet of Trusted Things, where all physical and virtual “things” — humans, machines, businesses, and dApps — can efficiently exchange information and value at global scale. Backed by a global team of top tier research scientists and engineers, IoTeX combines blockchain, trusted hardware, and data privacy to realize the full potential of IoT.
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