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

Taraxa hopes to solve the device entity credibility problem by giving the device a unique identity, provable data and message sources, and the ability to transact anonymously. Services and transactions between devices in the Internet of Things are ultimately achieved by providing a full range of solutions, from decentralized key generation, storage and recovery mechanisms in the device manufacturing phase to device-level cryptographic authentication to ensure the source of data and its immutability.