IoTeX

In September 2024, Bistroo achieved significant milestones, notably launching a partnership with IoTex and initiating the Bistroo Super Community Campaign. This collaboration aims to enhance the ecosystem by leveraging resources from partner projects, which will ultimately reward all contributors. The month also marked a remarkable growth in user engagement, with 6,304 first-time users placing orders, reflecting a 228% increase year-on-year. Furthermore, Bistroo surpassed 100,000 active users and saw a 402% rise in new user accounts, indicating a robust expansion in its customer base. The marketing efforts in September were centered around partnerships and community engagement, coinciding with Bistroo's 5th anniversary. The launch of the Bistroo Super Community Campaign involved collaboration with ten projects to promote growth within the crypto space. Additionally, Bistroo unveiled a revamped website and litepaper, aligning with its current and future objectives. The partnership with IoTex is expected to bolster Bistroo's capabilities and enhance its service offerings, further solidifying its position in the market. On the development front, Bistroo rolled out several updates to improve user experience for both merchants and customers. Enhancements included a streamlined merchant portal, improved mobile interfaces, and new features such as the 'as soon as possible' delivery option. These updates are designed to optimize the ordering process and improve feedback mechanisms for restaurants. With these advancements, Bistroo continues to position itself as a leading SaaS infrastructure for restaurants, offering lower fees and instant payouts, while enabling both customers and merchants to earn rewards within the BIST ecosystem.

The IoTeX ecosystem is experiencing unprecedented growth, particularly in the DePIN (Decentralized Physical Infrastructure Network) sector. With the launch of IoTeX 2.0, the platform has introduced a sophisticated tech stack that has attracted 218 projects, including 51 dedicated to DePIN. This surge in activity is underscored by the impressive DePINscan, which now tracks over 280 projects and 18 million devices. The upcoming Get GOATed Season 2 campaign promises to further energize the ecosystem with 100 million $IOTX incentives, marking a pivotal moment for IoTeX and its vision to become the leading DePIN ecosystem in the crypto space. IoTeX is now recognized as the third-largest DePIN ecosystem, trailing only Ethereum and Solana. The platform's commitment to supporting its projects through initiatives like the DePIN Surf Accelerator and the IoTeX Ecosystem Fund has fostered significant advancements in the sector. Notable projects such as Network3, Nubila, and Wayru are making headlines with their innovative approaches and successful fundraising efforts. For instance, Network3 has raised $5.5 million and is set to launch its $N3 token soon, while Nubila has secured $2.5 million to enhance its environmental data collection capabilities. Looking ahead, IoTeX is not only focused on nurturing its internal projects but is also expanding its influence across other Layer 1 networks. Recent integrations with platforms like Solana and Polygon are designed to enhance cross-chain liquidity and broaden the reach of DePIN capabilities. As the ecosystem gears up for major product launches, including ioID and W3bstream, the excitement surrounding IoTeX continues to build. With a robust roadmap ahead, IoTeX is poised to solidify its position as a key player in the DePIN landscape, driving innovation and collaboration across the crypto universe.

The IoTeX ecosystem is experiencing a significant transformation, particularly in the realm of Decentralized Physical Infrastructure Networks (DePIN). In the latest developments, IoTeX has introduced several key initiatives, including the IoTeX Hub, which serves as an all-in-one aggregation platform for users to engage with the ecosystem efficiently. This quarter has seen a remarkable increase in user engagement, partnerships, and product launches, marking a pivotal moment for IoTeX as it continues to expand its influence in the blockchain space. The community has also approved the migration to USDC.e, a new stablecoin standard, enhancing the financial infrastructure of the network. In addition to these advancements, IoTeX is rolling out its 2.0 version, which upgrades its infrastructure to support modular DePIN applications. This upgrade positions IoTeX as a comprehensive platform for developers looking to create innovative solutions within the DePIN framework. Furthermore, the launch of the IoTeX Web Wallet V2 Beta aims to improve user experience and functionality, making it easier for users to manage their DePIN assets. The ecosystem is also welcoming new projects like Wayru and Network3, which aim to leverage IoTeX's capabilities to foster decentralized initiatives in various sectors, including energy and artificial intelligence. Lastly, IoTeX is focusing on enhancing liquidity within the DePIN sector through the introduction of the DePIN Liquidity Hub, which is set to become a central point for token liquidity. With over $350,000 in DePIN token liquidity already established, this initiative is crucial for supporting emerging projects and ensuring their sustainability. As IoTeX continues to innovate and expand, it is clear that the ecosystem is poised for significant growth, driven by a commitment to decentralization and community engagement.

StealthEX recently conducted an AMA session on X Spaces in collaboration with IoTeX, and we’re excited to share the highlights with you. Recap of Exclusive AMA: StealthEX and IoTeX Host: StealthEX – instant cryptocurrency exchange. Guest: Giuseppe, DevRel lead at IoTeX. Questions from Twitter: Q1: How will IoTeX’s infrastructure specifically contribute to the advancement of AI? What role does real-time data play in training those models, and how can it impact the accuracy and capabilities of AI agents? Giuseppe: IoTeX’s infrastructure plays a key role in advancing AI by leveraging the DePIN model, where individuals can contribute data or GPU power for AI model training. With our infrastructure, people can provide real-time data, which is essential for improving the accuracy of AI models. What makes IoTeX unique is that everything is verifiable on our Layer 1 blockchain, meaning that anyone can check the contributions and computations, ensuring that AI models are built on trusted data sources. This adds transparency and boosts the reliability of AI systems. Q2: As IoTeX transitions into version 2.0, what new tools, protocols, or frameworks are being introduced to enhance the experience of developers building DApps on DePIN infrastructure, and how will these changes impact overall ease of use and performance for end users? Giuseppe: IoTeX 2.0 brings all the individual components we’ve been building together into a cohesive infrastructure. This includes tools like wallets, bridges, and decentralized off-chain computation layers. The key here is modularity: developers can choose specific components that suit their project needs, making their applications easier to build and more scalable. For end users, this translates to better performance and a smoother experience since developers don’t have to reinvent the wheel and can focus on creating useful, composable DApps. Q3: With the launch of a web wallet, version 2 was highlighted as an all-in-one DePIN asset manager. What unique features does it offer that position it above other wallets in the DePIN space? Giuseppe: Our web wallet is unique because it’s specifically designed for DePIN assets. It serves as a hub where new DePIN projects can list their tokens, and users can trade these tokens across multiple chains like Ethereum, Binance Smart Chain, Polygon, and now Solana. We’ve built the wallet to be more than just a place for storage – it’s an entry point for DePIN projects and users to discover, interact with, and cross-trade assets. Additionally, we’re expanding its cross-chain capabilities, making it easier for people to interact with multiple ecosystems within the DePIN space. Q4: Can you explain the features of IoTube as a cross-chain bridge facilitating asset exchanges between IoTeX and major Layer 1 and Layer 2 blockchains? How does IoTube enhance interoperability and facilitate seamless asset transfers across different blockchain networks? Giuseppe: IoTube is our decentralized bridge that connects IoTeX with major Layer 1 and Layer 2 blockchains like Ethereum, Binance Smart Chain, Polygon, and now Solana. Its main feature is enabling seamless cross-chain asset transfers, which is critical for DePIN projects that want to expand their user base across multiple ecosystems. By bridging these chains, we ensure that projects aren’t confined to a single ecosystem but can interact with users and liquidity on other chains. We recently announced our collaboration with Solana, which is a huge step toward making IoTube one of the most interoperable bridges in the DePIN space. Q5: Can you elaborate more on the Halo Grants initiative and its tailored support for DePIN projects at various stages of development? How do these grants foster innovation, provide professional guidance, and drive forward projects within the IoTeX network? Giuseppe: The Halo Grants initiative has been around for a while, providing support for smaller DePIN projects that are just getting started. It’s perfect for teams of one to three people who have great ideas but need resources to get started. We also offer more support for larger projects through our Accelerator program, which helps teams scale up by offering marketing, technical, and community-building assistance. So far, we’ve seen a lot of success with projects launching their devices and tokens, and many are now preparing for their next rounds of funding. The goal of both Halo Grants and the Accelerator is to foster innovation and help these projects grow within our ecosystem. Q6: With the introduction of decentralized governance in IoTeX 2.0, how does the platform balance governance efficiency with decentralization, and what mechanisms are in place to prevent centralization of power within the ecosystem? Giuseppe: Decentralized governance has always been at the core of IoTeX. With IoTeX 2.0, we’ve taken this further by introducing a new DAO structure—what we’re calling the “Marshall DAO.” This DAO is designed to allocate funds and resources to DePIN projects that the community believes are promising. Governance efficiency is maintained through proposals and community voting, ensuring that power isn’t concentrated in a few hands. By enabling the community to participate in decision-making, we prevent centralization and ensure that the platform remains transparent and fair. Live Questions Q1: Can you explain how the modular architecture of IoTeX 2.0 supports the scalability and specialized needs of DePIN projects? How does it compare to other existing solutions in the market? Giuseppe: The modular architecture of IoTeX 2.0 allows projects to select specific components they need, like identity protocols or off-chain computation, which increases scalability. This flexibility is key to supporting projects with unique requirements while enabling composability—where different projects using the same modules can easily collaborate. Compared to other solutions, IoTeX’s modular approach offers greater interoperability between projects, which is crucial for scalability and growth. The modularity empowers developers to build on top of other DePIN projects and make use of shared resources, something that many other ecosystems don’t offer. Q2: Staking programs are very important for any project. Can I stake your token? Do you have any plans for a staking program? Giuseppe: Yes, staking has been available since we launched IoTeX in 2019, and it operates on a delegated proof-of-stake (DPoS) model. You can stake your tokens via stake.iotex.io and either become a delegate or vote for other delegates. We recently introduced liquid staking and passed a proposal that allows staking to be represented as NFTs, making it even more flexible. We currently have between 110 and 120 delegates, with the top 36 responsible for block production. It’s a great way to contribute to the ecosystem and earn rewards while securing the network. Q3: What have been the challenges this project has faced since 2019 after launch? Giuseppe: We’ve faced numerous challenges over the years. One major challenge has been educating people about the value of combining IoT and blockchain. In the early days, it was difficult to explain our vision for DePIN, and getting people to see the benefits of decentralized machine networks took time. On the technical side, building entirely new protocols like off-chain computation layers was also a challenge. There weren’t many existing templates to follow, so we had to push boundaries and innovate. Persistence and constant iteration have been our main strategies for overcoming these challenges. Q4: After all these challenges, what has been your strategy for overcoming them and moving the project forward? Giuseppe: The strategy depends on the challenge. For product-related challenges, we focus on market fit and user research, iterating as needed until we get it right. For narrative challenges, where people don’t yet see the value of what we’re building, we keep pushing forward with our vision until the market catches up. Each challenge has its own unique strategy, but persistence and the willingness to adapt are key. StealthEX: Thank you all for joining today! Recap of Exclusive AMA: StealthEX and IoTeX You can swap IoTeX (IOTX) crypto on StealthEX exchange platform. How to Buy IoTeX Coin? Just go to StealthEX and follow these easy steps: Choose the pair and the amount for your exchange. For example, ETH to IOTX coin. Press the “Start exchange” button. Provide the recipient address to which the coins will be transferred. Move your cryptocurrency for the exchange. Receive your coins! Follow us on Medium, Twitter, Telegram, YouTube, and Publish0x to stay updated about the latest news on StealthEX.io and the rest of the crypto world.

Network3, an AI Layer2 platform for global artificial intelligence developers, recently unveiled its latest innovation at the R3al World Summit in Singapore. The new Local Large Language Model (LLM) feature is designed to enhance the efficiency and performance of Edge AI technology. Edge AI involves deploying AI models directly on local devices like smartphones, bringing data processing closer to the source to improve application performance and reduce latency. The global Edge AI market is projected to exceed $269 billion in the next eight years, highlighting the growing significance of this technology. Transforming Smart Devices into AI Training Assets With a focus on making Web3 & AI technologies accessible, Network3 integrates DePIN with AI to enable IoT devices to train small AI models. By leveraging idle resources on smart devices, individuals can participate in AI training and earn rewards. The introduction of the local LLM feature aims to optimize smart devices' processing capabilities during idle times, reducing reliance on cloud computing, cutting down bandwidth usage, and enhancing data security and privacy. Network3, with over 320,000 active nodes globally, recently launched the N3 Edge V1 mining device, offering dual mining capabilities for IoTeX and Network3 tokens. Offering AI Chat Services on Mobile Devices Network3's latest update allows users to access AI chat services on their mobile devices without the need for expensive cloud infrastructure. A test version of the update will be available for download on the official website soon, providing users with the opportunity to interact with the model, earn tokens, and personalize their AI experience.

**Decentralized Physical Infrastructure Networks (DePINs)** DePINs have emerged as a critical part of the blockchain industry, disrupting traditional infrastructure models in data storage, computing power, and connectivity. The market cap for DePIN projects is estimated at $20 billion, attracting investments from top venture capital firms like Andreessen Horowitz and Binance Labs. Projects such as IoTeX and Akash Network are successfully onboarding contributors to their decentralized networks, with IoTeX having over 100,000 connected devices and Akash Network boasting more than 50,000 contributors for decentralized cloud computing. The potential for DePIN to transform markets like the Internet of Things (IoT) is significant, especially with the IoT market projected to reach $500 billion. DePIN, short for 'decentralized physical infrastructure networks,' utilizes blockchain to maintain networks of physical hardware, offering solutions in various applications like sensors, wireless infrastructure, and energy grids. By incentivizing peer-to-peer hardware infrastructure through cryptocurrency tokenomics, DePIN projects are gaining traction in sectors like road mapping, telecommunications, and data storage.