The IoTeX Network uses Roll-DPoS consensus, where Delegates are elected by token holders to run consensus on behalf of the entire network. The primary role of a Delegate is to help grow and maintain the network by providing robust node infrastructure, maintaining high server uptime, collaborating with other Delegates to run consensus, and contributing to various network initiatives. IoTeX uses a unique staking/voting process managed completely by the smart contract. As such, there is no centralized entity that can manipulate voting results — it is fully decentralized as all voting should be! In the IoTeX Network, 1 token = 1 vote and voters can also get bonus votes by setting a pre-defined stake duration (bonus curve). For more information on the voting process, please see our all-in-one Voter Handbook.
There are currently 50+ IoTeX Delegates from 20+ countries, including developers, community, media, universities, enterprises, and funds/VCs. Also included are experienced node operators from other PoS/DPoS networks, such as EOS, Tezos, Tron, Lisk, and IOST. With such a diverse, committed, and experienced group of Delegates, we are confident that the IoTeX Network will be able to evolve efficiently and sustainably.
Voting for Delegates began on March 11, with a goal of having 20% of the total circulating supply (~500 million IOTX) staked/voted to bootstrap the Mainnet. This goal was met within one week, a testament to our highly committed community! With one week left until Mainnet Alpha, there are now >750 million tokens staked/voted (~30% of the circulating supply). If you haven’t voted yet, vote today on the official voting website!
Read this blog for more details ▶️https://medium.com/@iotex/everything-you-need-to-know-about-iotex-mainnet-alpha-b8d790e0bd55