IoTeX Announces Mainnet v1.3 Upgrade for July 22

IoTeX Announces Mainnet v1.3 Upgrade
  • IoTeX is launching its mainnet v1.3 upgrade on July 22.
  • The upgrade will add dApps and reduce gas fees on the network.
  • Also, the upgrade will make IoTeX more secure with zk-SNARKs and zk-STARKs.

Internet of Trusted Things (IoTeX) recently announced the launch of EVM Instabal, its mainnet v1.3 upgrade. 

According to a recent tweet, the launch will be on July 22, 2021, at around 2 p.m UCT. Notably, v1.3 will deploy at block height 12,289,321.

Notably, this will be a hardfork upgrade that will add Web3 dApps, reduce gas fees and add zk-SNARKs computations to IoTeX. The EVM upgrade will also support ChainID opcode to prevent relay attacks and enable cross-chain transparency.

In addition, the upgrade enhances block sync strategy making it more robust. Also, mainnet v1.3 fixes a bug that the API query needs to wait to return the latest committed block. As a result,  the upgraded nodes will no longer stop working after losing network connectivity. Instead, the upgrade enables nodes to automatically resume working after connectivity is restored.

To clarify, IoTeX is an open-source platform that empowers the next generation of digital smart devices. These adaptations in turn will fuel the machine economy.

In fact, IoTeX combines innovations in blockchain, secure hardware and decentralized identity (DID). Ultimately, IoTeX aims to give users control over their digital assets. This is because IoTeX envisions a future where users and not corporations control digital devices and data.  

As such, the IoTeX ecosystem includes certain tools that enable users to achieve digital control. These tools include Ucam, Peddle, Mimo DEX, Multisender App, Unifi protocol, and more. For example, the EVM Instabul upgrade will also improve denial-of-service attack resilience, adjust gas costs for EVM storage, zk-STARKs, and zk-SNARKs. 

Of note, zk-SNARKs and zk-STARKs will support improved privacy and network scalability at a cheaper cost. 

Finally, the IoTeX supports easy to launch private IoT devices, apps, and networks.  Thus, connecting the physical internet devices block by block, making them fast and scalable

At the time of writing IoTex’s IOTX token was trading at $0.01956183  according to Blockfolio

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