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IoTeX AMA Livestream — July 2/19

Thank you to those who joined our general AMA and livestream session on July 2! We had a great time answering your questions and talking about VITA, Delegates Program, Mainnet, development, current goals and we would like to provide a brief summary for those of you who weren’t able to join, as well as, below you will find the questions that were chosen by the team and qualified for rewards.

Session participants

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Livestream Video

Livestream Recap/Highlights

  • Launch of IoTeX Analytics
  • Delegates reward tools
  • Updates on VITA

Questions from the community:

Q1: Looking back at your progress until now, what would you have done differently if anything?

Q2: Given your respective backgrounds, what was the moment where you said we have to do this and we have to start IoTeX?

Q3: Given the amount of IoT devices out there in the world and their lack of security and privacy how hard would it be to retrofit various devices to make use of IoTeX?

Q4: There are a few coins out there right now that seem to be aiming towards the IOT so what sets IoTeX apart?

Q5: With the launch of Mainnet, when do we expect to see the exchanges switch over?

Q6: When can we expect the native wallet with ledger integration?

Q7: Is it possible to introduce such an option as re-delegation of profits or reinvestment so that coins are not sent to delegates purses or wallets but are automatically delegated to implement the concept of compound interest?

Q8: The price of the token is not looking great these days what factors do you think influence it and what’s your strategy to keep holding the community’s attention?

Q9: What’s your roadmap after Q4 2019 and when will you share a new roadmap?

Q10: Can you share more details about the marketplace?

Q11: What progress do you have with your partnerships?

Q12: Do you see IoTeX having a role in home surveillance and home automation and if so what kind of smart home and home automation?

Q13: What’s the benefit of a three day withdrawal period after unstaking?

Q14: How many nodes do you have and how many tokens need to run a node and what are the rewards?

Q15: What killer features does IoTeX have that are ahead of the competition?

Q16: How does VITA intend to open up the technology to the community and to the researchers so it can be continuously improved? Are there plans to fully open source VITA in the future?

Q17: What do you think about smart contract Oracle’s like Chainlink?

Q18: How many difficulties did you pass to develop the project/what’s the hardest thing that we have done to date

Q19: Are you going to do any work for PR?

Q20: For how many weeks months etc can we claim VITA?

Updates from the team

Launch of IoTeX Analytics

Delegates reward tools

Updates on VITA

Very soon we will hold the Genesis Voter VITA airdrop, once the ledger integration is implemented. So stay tuned for more updates on VITA, if you haven’t checked out VITA yet, definitely find the links in our Telegram group or on Twitter. We think that now is a great time to accumulate VITA, not only its the time that most of VITA is being minted every day but it’s basically free for everyone to claim, so regardless of whether you think it’s gonna be a dynamite token in the future or you just wanted to get some free IoTeX swag and IoT products. So claim your VITA and check out our Discord, we have been dropping a lot of new features almost every day.

Q1: Looking back at your progress until now, what would you have done differently if anything?

Q2: Given your respective backgrounds, what was the moment where you said we have to do this and we have to start IoTeX?

Xin Xin: Looking at the existing application landscape, we are still far from our vision, as we need to find a way to connect all these applications silos that exist. Blockchain technology is a good candidate since it can remove the untrusted intermediaries and bring something new and realize the ultimate goal for the IoT.

Q3: Given the amount of IoT devices out there in the world and their lack of security and privacy how hard would it be to retrofit various devices to make use of IoTeX?

Right now actually, we see some projects straying away from the fully decentralized vision and I think that will end up being a bad decision. We also get lots of questions about sharding, which is a really hot topic everybody’s talking about, but I personally think that sharding for a layer one blockchain is a terrible idea, it’s a wrong direction since the layer one blockchain should be very pure, simple and decentralized.

But going back to the original question, I think Xin Xin, has some great perspectives on you know, what does blockchain add to these smart devices like and just because you connect a lot of smart devices in a network doesn’t mean that’s a smart network, so how does a blockchain kind of bring us to that smart network?

Xin Xin: We can think about this problem from the two different IoT aspects, one major issue is that most of the IoT devices are not secure when people design them. Because the early IoT adapters didn’t think about the security and privacy at the very beginning, that’s caused a lot of problems and that’s why you see many data breaches reports almost every day, especially in IoT domain, but now I think this trend is gradually changing. When I participate at different types of IoT conferences, people gradually realize the need for good security in the device from the very beginning. However there are still application silos, that haven’t been resolved yet for multiple reasons, IoT systems are rather complex and have so many stakeholders along the supply chain. You have the US manufacturers, Chinese manufacturers, system integrators, cloud service providers — all of them play different roles in the entire IoT map.

Q4: There are a few coins out there right now that seem to be aiming towards the IoT so what sets IoTeX apart?

Q5: With the launch of Mainnet, when do we expect to see the exchanges switch over?

Q6: When can we expect the native wallet with ledger integration?

Q7: Is it possible to introduce such an option as re-delegation of profits or reinvestment so that coins are not sent to delegates purses or wallets but are automatically delegated to implement the concept of compound interest?

Q8: The price of the token is not looking great these days what factors do you think influence it and what’s your strategy to keep holding the community’s attention?

Laryy: I think it’s important to understand the nature of the industry, it’s very cyclical, kind of like the debt cycle in traditional markets. You know, every time Bitcoin gains dominance, then a lot of capital flows in and then once bitcoin is over overpriced then flows back down into more alt markets. While this is going on, we just received word that we’re in the top 25 projects in the entire industry from Flipside Crypto which is big which is a partner of Coinmarketcap and they do a lot of very deep analytics of blockchain projects. So we are in the top 25 from overall projects and I think in the top 5 in terms of the developer activity, so you know, the price side is not really reflective of the progress that’s really going on here and for those of you that are staying committed, I think it will pay off in the future!

Q9: What’s your roadmap after Q4 2019 and when will you share a new roadmap?

Q10: Can you share more details about the marketplace?

Like you know, we are also developing an AvoBoard and Avochain, we have this idea of an IoT oracle in a privacy-preserving way, so I think that will be like the cornerstone that the marketplace will be built on top of, but that’s like far down the road, it’s not the thing we are actively building right now. At the moment, we are building a foundation layer of this new technology that has never been built before.

Q11: What progress do you have with your partnerships?

Those kinds of partnerships don’t really amount to concrete you know cobuild deliverables but it’s more research partnerships and kind of keeping each other up to date. With NKN for example, we’ve built the Airbnb of the future use case, where integrated a lot of different smaller home devices with IoTeX blockchain running on NKN’s connectivity network. We actually had a meeting with them a couple of weeks ago to talk about the next evolution of a project, mostly focusing on smart cities and the automotive sector, so really trying to figure out ways that we can combine our technologies to kind of create a proof of concept or a use case. But for some of the other partnerships, you know very truthfully and honestly to the community, some of the other projects that we signed like mid 2018, peek bear market, a lot of them had difficulties fundraising and that’s been their number one priority for the past like two-three quarters, Lineable is one of them.

Q12: Do you see IoTeX having a role in home surveillance and home automation and if so what kind of smart home and home automation?

Q13: What’s the benefit of a three day withdrawal period after unstaking?

Q14: How many nodes do you have and how many tokens need to run a node and what are the rewards?

Q15: What killer features does IoTeX have that are ahead of the competition?

Q16: How does VITA intend to open up the technology to the community and to the researchers so it can be continuously improved? Are there plans to fully open source VITA in the future?

Q17: What do you think about smart contract Oracle’s like Chainlink?

Q18: How many difficulties did you pass to develop the project/what’s the hardest thing that we have done to date

Q19: Are you going to do any work for PR?

Q20: For how many weeks months etc can we claim VITA?

Announcing the Winners

Discord ID’s: Ernstjan Albers, captainmouse86, Crypt0BHunter

We have a total of 6 winners and each will receive 250 VITA.

About IoTeX

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Stay connected with us!

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https://t.me/iotexchannel
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Building the Internet of Trusted Things: iotex.io

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