IoTeX is not an Ethereum. While both platforms are blockchain-based and open-source, they differ in their fundamental design and purpose.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. These contracts are written in a Turing complete programming language, meaning that they can theoretically perform any computation that can be done by a computer.
IoTeX, on the other hand, is designed to be the “internet of things” platform. It uses a unique “rolling consensus” algorithm that allows it to be scalable and efficient while still maintaining decentralization.
NOTE: IoTeX is not an Ethereum. It is a blockchain-based platform for the Internet of Things (IoT) and the decentralized economy. It is built on its own blockchain and does not share any technology with Ethereum. IoTeX provides a decentralized infrastructure for secure systems, privacy-preserving data exchange, and trustless data hosting services.
Rolling consensus is more flexible than the proof-of-work algorithm used by Ethereum, meaning that it can be adapted to different types of devices and use cases.
In conclusion, IoTeX is not an Ethereum.
Ethereum is a decentralized platform that runs smart contracts, while IoTeX is designed to be the “internet of things” platform.
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