Recap of Exclusive AMA: StealthEX and IoTeX

Tuesday, October 8, 2024 3:27 PM

3,435

Recap of Exclusive AMA: StealthEX and IoTeX cover

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.

Source: stealthex.io

Related News

4 days ago

Emerging Crypto Trends for 2024: A Look Ahead

The crypto market is experiencing a surge of optimism as we move into 2024, with Bitcoin reaching new all-time highs and Ethereum receiving regulatory approvals for spot ETH ETFs. This positive sentiment has sparked discussions about the future of the crypto landscape, highlighting key narratives that are expected to shape the industry in the coming years. Among these trends, decentralized social platforms, restaking, data availability layers, decentralized physical infrastructure networks (DePIN), tokenization of real-world assets (RWA), artificial intelligence (AI), and political memecoins are emerging as significant drivers of both buzz and utility. Decentralized social platforms are gaining traction as they offer users censorship-free environments and control over their data. Platforms like Warpcast and Friend.tech are leading this movement, allowing users to migrate their content and followers seamlessly. Meanwhile, restaking, a concept pioneered by EigenLayer, allows validators to lock up liquid staking tokens as collateral, enhancing the security of the Ethereum network while enabling token holders to earn additional yields. This trend has led to the emergence of several competitors in the restaking space, further diversifying the market. The tokenization of real-world assets is another trend that is gaining momentum, with major players like BlackRock entering the space. By representing assets such as real estate and fine art as digital tokens, tokenization facilitates fractional ownership and enhances liquidity. Additionally, the AI narrative continues to grow, with projects like Fetch.ai and Bittensor focusing on creating decentralized AI solutions. Lastly, political memecoins have captured the attention of investors as they satirize political figures, reflecting the speculative nature of the crypto market. As 2024 unfolds, these narratives will likely continue to evolve and influence the crypto ecosystem significantly.

Token Launch Funding AI

5 days ago

The Rise of Crypto + AI: A New Frontier in Web3 Investment

In recent weeks, the convergence of cryptocurrency and artificial intelligence (AI) has captured the attention of Web3 venture capital firms, signaling a significant shift in investment focus. Coinbase Ventures, a prominent player in the crypto space, has published an official thesis outlining its commitment to Crypto + AI projects. Hoolie Tejwani, head of Coinbase Ventures, believes that blockchain and generative AI will intertwine to form the foundation of our digital lives. This shift is not isolated; other venture capital firms, such as CoinFund and a16z, are also investing heavily in this emerging sector, with a reported $213 million directed towards AI projects in the third quarter of 2024. Coinbase Ventures categorizes the Crypto + AI landscape into three primary buckets. The first bucket focuses on AI agents that utilize cryptocurrency for transactions, suggesting a future where AI handles various tasks and requires a seamless payment method. Projects like Skyfire and Payman are already exploring this concept, with Payman enabling AI agents to transact with humans. The second bucket encompasses decentralized AI systems, emphasizing the importance of data in training AI. Initiatives like Vana are pioneering ways for users to monetize their data while maintaining privacy, potentially revolutionizing how AI is trained and governed. The third bucket delves into on-chain AI, where AI generates software code and smart contracts in real-time. This innovative approach could redefine how applications are built and operated on blockchain networks. However, the rapid proliferation of Crypto + AI projects raises questions about their substance and viability. While some view this integration as a necessary evolution, others caution against the hype surrounding it. Ultimately, the future of Crypto + AI will depend on its ability to provide tangible benefits and empower users, rather than merely riding the wave of technological trends.

AI Funding

5 days ago

Streamr: Revolutionizing Real-Time Data Streaming in a Decentralized World

Streamr is an innovative decentralized network designed for streaming live media and real-time data securely and at scale. It offers a range of use cases, including AI data delivery, live video streaming, and communication without the need for centralized servers. The platform allows users to stream verifiable data from IoT devices and networked hardware, making it a versatile solution for various industries. Additionally, Streamr facilitates data monetization by enabling users to buy and sell subscriptions to data streams, thus creating a marketplace for real-time data exchange. The Streamr Network operates on a robust and permissionless peer-to-peer architecture, which enhances its scalability and resilience against malicious attacks. By leveraging companion blockchains such as Ethereum, Gnosis, and Polygon, Streamr ensures secure identity management and payment processing. This decentralized approach addresses the limitations of traditional centralized services, which often suffer from single points of failure and vendor lock-in. With a focus on low latency and secure messaging, Streamr is poised to become a critical infrastructure layer for the emerging decentralized web (Web3). Founded in 2017 by a team of visionaries, Streamr has grown into a collaborative open-source project with around 30 contributors worldwide. Governance within the project is facilitated through voting mechanisms using the $DATA token, which serves as the backbone of the network. The recent release of the complete $DATA tokenomics marks a significant milestone in the Streamr roadmap, further solidifying its position in the decentralized data ecosystem. Node operators play a crucial role in securing and relaying data streams, while delegators can earn revenue shares by supporting these operators, fostering a community-driven approach to data management.

AI Product Launch

5 days ago

CUDOS Achieves Major Milestones in September with ASI Merger and Infrastructure Expansion

September marked a transformative month for CUDOS, characterized by significant developments, impressive growth metrics, and strategic partnerships. A highlight was the proposal for CUDOS to join the Artificial Superintelligence Alliance (ASI), aiming to synergize AI and cloud computing for sustainable innovation. The community's enthusiastic response culminated in a successful vote for the merger, paving the way for a new chapter in CUDOS's evolution. Detailed resources, including a voting guide and migration steps for the upcoming token merger with $FET, have been made available to assist users in this transition. The month also witnessed remarkable operational achievements, with a staggering 8,475 new virtual machines (VMs) deployed, reflecting a 159% increase from the previous month. This surge brought the total number of VMs across the CUDOS Intercloud to nearly 30,000. Additionally, the user base surpassed 11,000, and the platform logged over 500,000 compute hours, showcasing the diverse workloads being supported. Financially, CUDOS generated over $700,000 in revenue, underscoring its robust performance and growing adoption in the market. Infrastructure expansion was another key focus, with the establishment of new data centers in Norway and the USA, enhancing global computing capabilities. These facilities are equipped with advanced hardware to ensure efficient service delivery. Furthermore, CUDOS engaged with the community through events and discussions, including an AMA with CEO Matt Hawkins, who emphasized the merger's potential benefits. The media also recognized these milestones, with coverage in platforms like Cointelegraph, highlighting CUDOS's commitment to advancing AI and decentralized computing. Looking ahead, CUDOS is poised for continued growth and innovation, thanks to the unwavering support of its community.

AI Funding

5 days ago

Decentralized Technologies Transforming Industries

In the rapidly evolving digital landscape, decentralized technologies are transforming traditional industries by providing safer and more efficient alternatives. Leading platforms such as Filecoin, Bittensor, Theta Network, and Arweave are at the forefront of this revolution, each addressing unique challenges in cloud storage, AI development, video streaming, and data retention. By leveraging blockchain technology, these projects enhance security, fairness, and long-term reliability, paving the way for a future where control is distributed and innovation flourishes without boundaries. Filecoin is revolutionizing cloud storage by decentralizing data distribution across a network of nodes, significantly reducing risks associated with centralized providers like Amazon and Google. With a market cap of $2.34 billion, Filecoin allows users to pay for storage using its native token while rewarding miners for enhancing network security. This innovative approach minimizes the single point of failure typical in traditional cloud services, ensuring that data remains safe and accessible. Bittensor, with a market cap of $4.39 billion, is reshaping AI development through a decentralized machine learning network. By incentivizing contributors with its native TAO token, Bittensor democratizes AI training and fosters open-source collaboration. Similarly, Theta Network, valued at $1.35 billion, enhances video streaming quality in underserved areas by allowing users to share bandwidth. With its dual-token system, THETA for governance and TFUEL for transactions, Theta Network is a game-changer in the video streaming sector. Lastly, Arweave, with a market cap of $2.78 billion, offers permanent storage solutions, ensuring data availability forever through its unique AR token incentive model. Together, these platforms exemplify the potential of decentralized technologies to redefine industry standards and practices.

Cloud Services AI Product Launch

5 days ago

C4E and Grenton Showcase Blockchain and AI Solutions at Gitex Global Conference

Last week, the Gitex Global Conference took place from October 14th to 18th in Dubai, UAE, where our team had the opportunity to collaborate with our partner Grenton. This annual event serves as a significant platform for fintech decision-makers to connect, share ideas, and network. Located at the Dubai World Trade Centre, Gitex Global attracted tens of thousands of participants, including entrepreneurs, investors, and industry insiders. Our focus during the conference was to showcase the integration of blockchain technology with AI and Smart Home solutions, emphasizing their potential benefits for sustainability and the development of smart cities. During the event, we engaged with key decision-makers and investors, presenting how our joint solutions can enhance community engagement and facility management through innovative technologies. Notably, Bartlomiej Gierszyn, CEO of Grenton, delivered a presentation during the Tech Talks segment of Gitex 2024. He highlighted the aggregation of data from smart homes for notifications and alerts, the role of AI in facility management, and the application of blockchain for fostering community engagement. This presentation not only provided valuable insights but also sparked significant interest among potential investors and attendees. Overall, our experience at Gitex Global was highly productive, allowing us to expand our network and generate interest in our collaborative solutions with Grenton. We believe that the conference could have been even more beneficial with a longer duration, as the discussions and networking opportunities were incredibly valuable. To stay updated on our developments and future initiatives, we encourage following our social media channels.

AI Funding