IoTeX is a decentralized and permissionless network – anyone may register to become a block-producing Delegate at any time. The IoTeX Network utilizes Roll-DPoS consensus, where 24 of the top 36 community-voted Delegates are randomly selected to mine blocks every hour. For their services, Delegates are rewarded with IOTX tokens, which they often share with their voters.
To be eligible to mine blocks, all Delegates must meet the minimum requirements, including self-staking at least 1.2 million IOTX, receiving at least 2 million total votes, and maintaining a server to prevent any node downtime. The annual hardware costs to operate a Delegate node is extremely affordable at ≤$600 per year.