IoTeX Issue First Blockchain Grants

IoTeX Issue First Blockchain Grants

IoTeX have announced the first five initiatives to receive funding through the project’s Halo Grants program which is geared to growing the ecosystem and expanding the trust in the Internet of Things (IoT).

With grants open to a wide range of participants who promote the growth of IoTeX technology – including software and hardware developers, researchers and community activists – the initial beneficiaries cover a spread of blockchain-related sectors.

IoT Mass Adoption?

Launched in a private sale initial coin offering (ICO) in February 2018 that raised $14 million, IoTeX’s own IOTX token began life as Ethereum ERC-20 compatible but underwent a swap for a native token on the project’s mainnet earlier this year.

Using an extended Delegated Proof of Stake (DPoS) protocol known as Roll DPoS, IoTeX’s stated goal is to harness blockchain, secure hardware and decentralised identity (DID) to overcome the issues facing mass adoption of IoT technology such as scalability, cost, and privacy concerns.

The five projects receiving Halo Grants funding seek to address some of these fundamental obstacles.

Netherlands-based HealthBlocks are proposing a private healthcare service that allows individuals to analyse, monitor and manage their own health data. Such information could be used for personalised guidance on healthier living and provide the option of authorising access to the data to other entities such as doctors, hospitals, and insurance companies.

Metanyx already run a full IoTeX node as a Delegate and are looking to establish IOTX as a spendable currency by developing an integration called IoTeXPay with WordPress online sales platform, WooCommerce.

Newly established Delegate, Smart Stake, will develop a user-friendly dashboard to provide easier access for stakeholders to assess the performance of Delegates so as to increase transparency and aid decision making.

Cloud technology company, Helix, will integrate their Blockchain Extract, Transform, Load (ETL) tool to make all of the IoTeX blockchain data available to Google’s open-source data platform, BigQuery, to provide opportunities for advanced analytics.

The adoption of a proposal by GameFantasy will lead to the creation of the first blockchain-based game using both IOTX and the Vitality (VITA) network token. Players of Cats Around the World will utilise IoTeX smart contracts to raise virtual pets and access new game permissions.