Internet of Trusted Things (IoTeX) recently announced the launch of EVM Instabal, its mainnet v1.3 upgrade.
Read CRYPTONEWSLAND onAccording 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.
🚨💥 #MichaelSaylor speaks out! Claims #Ethereum a security, not a commodity! What’s next for #ETH?…
#BingX introduces #Eigenlayer Token #SpotTrading amid growing popularity of the #Ethereum Restaking Ecosystem. #Crypto #Blockchain
🚀📈 Hidden #Altcoin Bull Market on the rise! 🐂 #VanDePoppe predicts major gains. Should you…
Trading expert achieved remarkable gains by flipping $10,000 into a staggering $500,000 during the first…
#Bullish sentiment comes back in a big wave following Jack Dorsey’s promise of #Block buying…
Retik Finance has emerged as a beacon of innovation and potential, capturing the attention of…