IoTeX (IOTX) operates as a decentralized platform, fostering an ecosystem where people and machines interact securely. More
| Fully Diluted Valuation | $279.71M |
|---|---|
| 24H Trading Volume | $10.82M |
| 24H Low / High | $0.03 / $ 0.03 |
| Circulating Supply | 9.44 B |
| Total Supply | 9.44 B |
| Max Supply | 10.00 B |
| Categories | Internet of Things (IOT) 7 more |
|---|---|
| Founder | Raullen Chai 3 more |
| Website | iotex.io Whitepaper |
| Socials | 5 more |
| Chains | Ethereum Ecosystem 1 more |
| Explorer | Basescan 5 more |
| Contracts | 0x6fb....14d69 1 more |
| Name | Pair | OG Score |
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IoTeX (IOTX): Bridging Blockchain and IoT for Trust, Security, and Innovation
IoTeX (IOTX), founded in 2017 by visionaries Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun, stands as a pioneering force at the intersection of blockchain and the Internet of Things (IoT). With a mission to establish an open machine economy built on trust, freedom, and economic incentives, IoTeX has garnered attention for its innovative Roll-DPoS consensus mechanism and a robust EVM-compatible blockchain.
A Decentralized Ecosystem for Machines
At its core, IoTeX operates as a decentralized platform, fostering an ecosystem where people and machines interact securely. The project's blockchain, launched in April 2019, has proven its mettle by processing over 10 million transactions and engaging more than 100 delegates worldwide. This solid foundation allows IoTeX to seamlessly integrate with major blockchains like Ethereum, BNB Chain, and Heco.
Three Pillars of IoTeX (IOTX): Device, Storage, and Blockchain Layers
The IoTeX network is structured around three essential layers: Device, Storage, and Blockchain. The Device Layer ensures trust in data from connected devices by providing verifiable identities, enabling secure interactions. The Storage Layer efficiently stores data on the IoT Cloud, offering timestamped verifiability and data provenance. The Blockchain Layer, the heart of IoTeX (IOTX), supports P2P transactions, smart contracts, and IoT applications, seamlessly interacting with the Storage Layer.
Innovative Middleware and Real-World Applications
IoTeX (IOTX) goes beyond the blockchain, implementing middleware components such as decentralized identity, confidential computing, and secure hardware. These innovations pave the way for self-sovereign devices like Ucam, a private home security camera, and Pebble Tracker, an asset-tracking device communicating real-world IoT data to the blockchain for smart contract utilization.
IOTX: The Powerhouse Cryptocurrency
At the center of IoTeX's operations is its native cryptocurrency, IOTX. This utility token plays a pivotal role, serving as gas for the blockchain protocol, facilitating transactions, and enabling staking for governance participation. The unique "Burndrop" economic design ensures deflation of IOTX as the IoTeX network orchestrates an increasing number of devices.
Securing Privacy and Transactions
IoTeX employs advanced security measures such as ring signatures and trustworthy payment codes to safeguard user privacy and transaction details. The Delegated Proof-of-Stake (DPoS) consensus mechanism, where stakeholders elect block producers, adds an extra layer of decentralization and security.
Real-World Impact: Ucam and Pebble Tracker
Ucam, IoTeX's decentralized home security camera, has been deployed in over 3,000 households, emphasizing the platform's commitment to privacy. Pebble Tracker, an IoT dev board, empowers developers with real-world data for applications like weather derivatives and machine learning-as-mining, bridging the physical and crypto worlds.
Founders Driving Innovation
IoTeX's success is propelled by its visionary founders, each bringing a wealth of experience. Raullen Chai's background at Uber, Qevan Guo's tenure at Facebook, Xinxin Fan's research leadership, and Jing Sun's role at Sparkland Capital collectively shape IoTeX's trajectory.
Looking Ahead: Trust, Innovation, and Expansion
As IoTeX continues to evolve, its commitment to an open machine economy, privacy-focused solutions, and real-world applications positions it as a key player in the blockchain and IoT convergence. The journey of IoTeX, from its open-source origins to pioneering privacy-centric devices, showcases its dedication to building a secure and interconnected future for machines and humans alike.
IoTeX stands out with its innovative Roll-DPoS consensus mechanism and an EVM-compatible blockchain, fostering an open machine economy where devices like the private home security camera Ucam and asset tracker Pebble seamlessly bridge the physical and crypto worlds.
IoTeX was founded in 2017 by Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun. Raullen Chai, a former Head of Crypto R&D and Security Engineering at Uber, leads this accomplished team driving the convergence of blockchain and the Internet of Things (IoT).
IoTeX has garnered support from various investors, with significant backing from Sparkland Capital, Polychain Capital, and angel investor Rippling. This diverse investor base underscores the project's appeal and potential in the blockchain and IoT space.
IoTeX employs the unique Roll-DPoS consensus mechanism, a variation of Delegated Proof-of-Stake (DPoS), where stakeholders vote for block producers. This mechanism enhances scalability, decentralization, and security, ensuring the robustness of the IoTeX network.
You can buy IoTeX (IOTX) on Binance, Gate.ioBitgetMEXCHTX cryptocurrency exchanges.
