[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"59aa77f2-dce8-464c-af9e-82808b71c080","updated_at":"2022-07-26T11:57:00+00:00","account":{"firstName":"Marigold","lastName":"Vance"},"description":"Started as an open-source, decentralized platform with an aim to empower the open economics for machines, IoTex facilitates the interoperability between Internet of Things (IoT) devices with decentralized apps. Let’s take a deep dive into IoTeX and its IOTX tokens!","sapo":"Started as an open-source, decentralized platform with an aim to empower the open economics for machines, IoTex facilitates the interoperability between Internet of Things (IoT) devices with decentralized apps. Let’s take a deep dive into IoTeX and its IOTX tokens!","title":"IoTeX (IOTX): Building the Connected World","content":"

Introduction to IoTeX (IOTX)

IoTeX is a decentralized layer-one blockchain that enables connection between IoT (Internet of Things) devices and people in a safe and trustworthy manner.

Aiming to create a decentralized network of users and developers, IoTex bridges the gap between real-world devices, data, and utility to blockchain dApps.

As the backbone of the IoT ecosystem, IoTex is attempting to create an open environment facilitating safe and reliable communication between humans and machines.

History of IoTeX (IOTX)

Formerly built as an open-source project in 2017, the IoTeX mainnet was officially made public in April 2019.

IoTeX was founded by Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun.

The IoTeX blockchain has been developed by a group of 40 research scientists and computer engineers.

Released in 2019, the IOTX token processed up to 10 million transactions.

IOTX token All-Time High.

On November 13, 2021, the IOTX token hit an all-time high of $0.001239.

About IoTeX (IOTX) token

IoTeX (Symbol: IOTX) is the native token of the IoTeX, used to fuel the whole ecosystem.

IOTX token serves the following utilities:

Gas fee: Like other native tokens of Layer-1 blockchains, IOTX is used as payment for on-chain transactions.
Network governance: IOTX holders are entitled to elect Delegates and vote on network governance proposals.

The ecosystem of IoTeX (IOTX)

The IoTeX network is based on four key components that make it work properly:

Roll-D PoS: IoTex is secured by the Roll-D PoS mechanism, a variant of the Delegated Proof of Stake, allowing the blockchain to obtain immediate finality and scalability.
Layer two subchains: IoTeX subchains improve the network’s flexibility to meet various requirements of IoT devices.
Edge computing: Edge computing speeds up data storage and transaction settlement.
Cross-network communication: Cross-network facilitate interoperability and communication between all subchains.

Outlook on IoTeX (IOTX)

Based on the concept of IoT (Internet of Things), IoTeX builds a borderless environment to make everything around us connected easily to the internet.

Apart from empowering IoT devices to work safely and securely, IoTeX also designs and launches devices in the market with specific functions.

At the time of writing, on July 26, 2022, the IOTX token is trading at the price of $0.02923.

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","tags":[],"image":{"fileName":"iotex-iotx-deep-dive.png"}}]

IoTeX (IOTX): Building the Connected World

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