What is a Delegate
IoTeX is a decentralized and permissionless network with a digital democracy where token-holders stake IOTX and vote for Delegates to maintain/grow the network.
The IoTeX Network utilizes Roll-DPoS consensus, where community-voted Delegates manage consensus on behalf of the entire network. 24 of the top 36 community-voted Delegates are randomly selected to mine blocks every hour.
The top 36 voted Delegates are called Consensus Delegates, that manage transaction verification and block production on behalf of the IoTeX Network. For their services, Delegates are rewarded in IOTX tokens, which they may share with their voters.
There are currently over 100 Delegates in the IoTeX network. You can see the current list of elected IoTeX delegates on stake.iotex.io.
Any token-holder that stakes IOTX can vote for one or more Delegates. By staking/voting, token-holders not only enhance the overall security of the IoTeX Network, but also earn up to 10% annualized interest on their staked IOTX.
Last modified 1yr ago