IoTeX Mainnet v1.14.0 Upgrade Boosts Throughput to 1000 TPS

Tuesday, April 23, 2024 6:02 PM
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IoTeX, a leading modular Decentralized Physical Infrastructure Network (DePIN) blockchain platform, has upgraded its Mainnet to version 1.14.0, achieving a remarkable increase in throughput to 1000 transactions per second (TPS). This enhancement places IoTeX as the sixth fastest blockchain globally and the second fastest among EVM-compatible chains. The upgraded Mainnet v1.14.0 has raised the block gas limit to 50M, significantly enhancing processing capabilities while maintaining blockchain stability. With over 114 million transactions and 29.5 million blocks processed to date, IoTeX provides a robust and scalable environment for developers to build DePIN applications. The IoTeX L1 serves as a trust source for project-related token economies and identity layers, offering speed, low costs, and instant finality with transaction costs as low as a fraction of a penny. The upgrade also improved delegate management through delegate endorsements, activated with the approval and activation of the latest IoTeX Improvement Proposal (IIP), making delegate management more flexible and encouraging diverse projects to participate in the IoTeX network operation. CEO of IoTeX, Raullen Chai, stated, ‘This performance upgrade is a significant milestone for IoTeX, offering developers a powerful platform for building next-generation DePIN applications and solidifying IoTeX’s position as a leading blockchain for a scalable, secure future.’ IoTeX is a modular Web3 infrastructure platform that connects smart devices and real-world data to blockchains, empowering developers to integrate Web3 into everyday life through various innovations. With the launch of W3bstream, the world’s first off-chain compute framework for smart devices and real-world data, IoTeX has become a leading DePIN technology provider, enabling vertical innovations for machines, humans, businesses, and dApps to interact with trust and privacy.

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