IOTX
IoTeX Network
$0.003161
4.85%
IoTeX Network
IOTX
$0.003161
4.85%
IoTeX Network Price Converter
IoTeX Network Information
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About IoTeX Network
IoTeX is a privacy-focused blockchain infrastructure for the Internet of Things (IoT) that aims to enable autonomous device coordination and create an open ecosystem for people and IoT devices to interact with proper incentives. It is based on Ethereum and uses the Roll-DPoS consensus mechanism for instant finality and high throughput to support millions of devices. The team includes over 30 researchers and engineers and the network has over 100 delegates and is fully open-source. The IOTX token is used for transactions, staking, governance, and registering new devices on the network. The IoTeX ecosystem includes projects such as Ucam, Pebble, Mimo DEX, and IoTeX Scout, among others. The team is headquartered in Silicon Valley and includes former Google, Facebook, and Uber employees.
IoTeX is a privacy-centric blockchain infrastructure for the Internet of Things (IoT) that launched in 2017. It aims to make autonomous device coordination a reality while creating an open ecosystem where people and IoT devices can interact freely with properly designed incentives. IoTeX is based on the Ethereum blockchain and the IOTX token powers the IoTeX network. This includes paying for transactions, staking, governance and registering new devices to the IoTeX network. The project uses an innovative Roll-DPoS consensus mechanism, a variant of the Delegated Proof of Stake (DPoS) mechanism, that provides instant finality and throughput to help it support millions of IoT devices. IoTeX’s technology aims to give users full control of their internet-connected devices and data. The team includes over 30 research scientists and engineers, who have built an Ethereum Virtual Machine-compatible blockchain with the Roll-DPoS consensus mechanism. Being EVM-compatible, it allows developers to build and convert smart contracts from ETH to its network. The IoTeX network has over 100 delegates ensuring the network is decentralized and is fully open-source. The network already powers a diverse ecosystem of devices and decentralized applications. In the future, it plans to create devices powered by IoTeX’s decentralized identity system, real-world data oracles, and decentralized autonomous machines that “autonomously generate value for humans via on-chain data/assets.”
IOTX is the native token of the IoTeX network. Each token represents fractional ownership of the network and can be used to pay for transactions on the blockchain. IoTeX users can use IOTX to use decentralized applications and stake their tokens or vote on network delegates. Developers may power their devices and decentralized applications with IOTX-based incentives, while service providers may offer services to devices or decentralized applications using IOTX. The IoTeX Network ecosystem is vast and currently consists of several projects such as:
- Ucam - a blockchain-powered home security camera with 100% data privacy
- Pebble - a decentralized asset tracking device to bring verifiable real-world data to IoTeX DApps
- Mimo DEX - A cross-chain decentralized exchange (DEX) with automated liquidity and 5-sec trade finality
- Multisender App - Batch-sending IOTX and XRC20 tokens to thousands of recipients in one single action
- IoTeX Scout - An alternative block explorer for the IoTeX blockchain
- IoTube - a cross-chain bridge to transfer tokens/data between IoTeX and other blockchains like Ethereum
- IoTeX Studio IDE - an online IDE for writing, testing, and deploying IoTeX smart contracts and DApps
And many more. You can access a full list of IoTeX ecosystem projects on its website.
The IoTeX network is headquartered in Silicon Valley and backed by a global team of top engineers from companies including Google, Facebook, Google, and Uber. Its founding team includes Raullen Chai, former head of cryptography at Uber and senior software engineer at Google, and Qevan Guo, former product lead at Facebook. It also includes Jing Sun, a former managing partner at Sparkland Capital, a Silicon Valley-based Venture Capital firm, and Xinxin Fan, a senior research scientist at Bosch.
