The content of the 2.0 white paper is still very rich, expressing the team's strong desire to do things. As shown in the Roadmap below, the main tone of this 2.0 version is to completely upgrade the original IoT Layer1 public chain to a complete set of Depin solutions and open platform systems, which is also in line with the concept of this 2.0 "AI and DePIN belong to everyone". Although on the surface it only supports building Layer2 on top of IoTex like OP, the specific work is not limited to this. It mainly includes four parts: W3bstream, DIM, Public Good, and economic model.
As the main responsibility of the Depin public chain, it is to ensure that the workload of many devices under the chain is authentic and reliable, and upload it to the chain in time to complete authentication and reward distribution. W3bstream is known as the world's first decentralized off-chain computing network. It uses ZK, fully homomorphic encryption, trusted execution environment, and multi-party computing to generate real-world activity proofs in real time, and publish these proofs on the chain to reward device holders. In order to achieve rapid computing, according to the latest paper published by IoTex, it has improved the performance of ZKP by 30%, becoming the world's fastest zkSNARK prover. W3bstream can also be used for off-chain AI computing and ensure the credibility of the computing process, and build AI data sets, which is very similar to AO's position. In addition, it is necessary to ensure the consistency of on-chain wallets and off-chain devices, and the uniformity of hardware device access. There are corresponding solutions in the subsequent DIM.
DIM stands for Depin Infra Modules, which provides out-of-the-box capabilities for the Depin project through a series of modular methods. First, it includes the MSP modular security pool to create a unified trusted layer for Depin infrastructure, so that L2 can start more quickly. Because Depin includes a large amount of on-chain and off-chain content at the same time, it needs to build its own decentralized architecture from scratch to improve its credibility. You can understand MSP as the Eigenlayer in the Depin field, which includes three roles, DIM builders, pledgers, and validators. Among them, builders are the most important, that is, third-party developers build modules such as data flow, processing, storage, and automation for Depin. Stakeholders need to be incentivized to pledge assets into their modules to ensure security. MSP provides a bribery mechanism to ensure that pledgers can get enough incentives from it.
The existence of ioID also solves the problem of inconsistent identities caused by the interaction of a large number of on-chain addresses and off-chain devices in the Depin field. ioID uses the wallet address as the on-chain identity and DID as the off-chain identity, and then maps and associates them. The most troublesome thing here is the identity authentication of the off-chain device. After all, there are many types of devices. In ioID, the Depin device can generate DID directly in the device by integrating the ioTex SDK, that is, creating an NFT for each device. After the user logs in to the website through MetaMask, deposit a minimum of 10 IOTX Tokens as the Gas fee during the device startup process, and then after the device generates the DID, read the corresponding DID on the website and bind and register it, thereby realizing the association between the on-chain and off-chain.
ioConnect is a universal embedded SDK that eliminates the complexity of Depin hardware devices. As mentioned above, ioID can generate DID for various types of hardware, but the problem is that there are so many types of hardware devices and chips and the standards are not unified. Therefore, IoTex has developed a more universal standard SDK to facilitate hardware devices to connect to the Internet.
At the end of DMI is ioDDK, which allows the Depin project to build an L2 application chain based on IoTex and inherit the security of IoTex. In the years since IoTex was launched, there has not been a single outage or theft by hackers.
In addition to the modular components provided by DIM, in the Public Good field, IoTex also provides DePinScan for users, miners, and investors to monitor the growth of Depin projects and discover early projects. DePin Liquidity Hubs is a Dex dedicated to Depin Tokens, providing liquidity for early Depin projects.
Finally, there is the adjustment of the economic model. In 2.0, there are both inflation and deflation mechanisms to form a dynamic balance hedge. In terms of inflation, IoTex's staking nodes will receive corresponding tokens as rewards. At the same time, IoTex will introduce a Gas burning deflation mechanism similar to Ethereum in 2.0, and a certain number of tokens need to be destroyed when using ioID to create an on-chain identity for the device. Therefore, if the IoTex network can achieve good growth at the business level, it will form a positive flywheel. The more people use it, the more tokens will be destroyed.
