IoTeX (IOTX)

IoTeX (IOTX) - The platform that seeks potential open economy for machines.

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IoTeX (IOTX) is a platform that seeks to empower the economy for machines, where they can interact with humans.
It seeks to add trust and free will to that relationship between human and machine, within an economic ecosystem.
Another goal is to create dApps to connect the physical world with the world of cryptocurrencies, such as NFT, weather derivative and machine learning.

Key Metrics IoTeX (IOTX)

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What is IoTeX (IOTX)?

IoTeX emerged in 2017 as an open source project, creating a decentralized platform with the vision of driving an open economy for devices, establishing an ecosystem where humans and machines can interact with safety, freedom and effective economic stimuli.

With an international team of over 40 experts including scientists and engineers, IoTeX developed its own EVM-compatible blockchain from the ground up, introducing the novel Roll-DPoS consensus in April 2019. This network, which has more than 100 delegates worldwide, has already processed more than 10 million transactions.

IoTeX is not only limited to its blockchain, but has created key infrastructures for integration with Ethereum, BSC and Heco, including the ioPay wallet and ioTube bridge, benefiting thousands of users and enabling EVM-based DApps to scale efficiently without the burdens of high gas fees.

Its founders are Raullen Chau, Quevan Guo, Xinxin Fan and Jing Sun, all of whom have extensive engineering experience.

IoTeX (IOTX): What makes it different and why invest?

IoTeX has developed middleware such as Decentralized Identity, Confidential Computing and Secure Hardware, which enable the creation of self-contained devices. Notable examples include the real-world oracle Ucam, already deployed in over 3000 homes, and Pebble, initially delivered to over 300 developers.

These tools enable revolutionary Dapps that bridge the physical world with crypto, enabling the creation of real-element based NFTs, weather derivatives and machine learning projects for mining, demonstrating the expansive potential of IoTeX in connecting emerging technologies.

IoTeX represents the decentralized core of the machine economy, providing services to a wide range of devices, from smart home appliances to autonomous vehicles. To achieve its mission, IoTeX has developed and implemented a fast, efficient and EVM-compatible blockchain, designed to adapt and scale according to the needs of different applications. The platform also integrates middlewares and Dapps built on top of its blockchain, facilitating the operation of autonomous devices and physical world oracles.

The IOTX cryptocurrency is the cornerstone of the IoTeX blockchain protocol, serving as both a unit of value and a gas for transactions on the network. In addition, IoTeX has implemented an economic mechanism called Burndrop, whose unique design promotes the deflation of IOTX while increasing the number of devices managed by the IoTeX network, marking a significant advance in the interaction between blockchain technology and the internet of things (IoT).

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