Taraxa is a fast, scalable IoT device-friendly public ledger designed to increase the trust, anonymity and value of the IoT ecosystem. Using the block DAG topology, and with the lowest coordination cost, combined with fuzzy sharding technology and VRF-driven PBFT consensus, to ensure fast and asynchronous final confirmation of the ledger. In addition, Taraxa also pioneered the first VM to perform concurrent processing, rather than the sequential execution common in today's blockchain systems.

Taraxa hopes to solve the problem of device entity credibility by giving devices unique identities, provable data and message sources, and the ability to conduct anonymous transactions. By providing a full range of solutions, including decentralized key generation, storage and recovery mechanisms at the device manufacturing stage, to device-level encryption authentication to ensure data origin and its immutability, and ultimately realize the services between devices in the Internet of Things with deals.