IoTeX (IOTX) is an automatically scalable and privacy-centric blockchain infrastructure for the Internet of Things (IoT). IoTeX is committed to building a next-generation blockchain platform that supports IoT applications with lightweight, privacy and easy to expand disruptive blockchain underlying technology. IOTX tokens are an important part of IoTeX network ecosystem, used to transfer money, run distributed applications, and motivate community participants.

Project Introduction

IoTeX was founded in 2017 as an open source project in Silicon Valley. It has built a network architecture from scratch (without forks) to tailor solutions for IoT use cases. IoTeX's mission is to build an open trusted IoT ecosystem, committed to allowing all people and machines to freely interact and exchange information and exchange value in a safe, trustworthy and privacy-protected environment. Combining technologies such as blockchain, secure hardware, and privacy computing, IoTeX network allows trusted data from trusted devices to be used in trusted DApps.

The IoTeX team consists of more than 30 top engineers and scientists from Uber, Google, Intel, Facebook and other top technology companies. At present, the IoTeX network is jointly maintained by more than 70 nodes from all over the world, including Blockfolio, CoinGecko, DraperDragon, etc.

IoTeX is an open ecosystem with native tokens (IOTX) and completely decentralized. IOTX tokens have multiple uses, and their goal is to ensure trusted, transparent and secure interactions between the entities in the IoTeX network, including nodes, stakeholders (voting), developers, service providers and users. IOTX tokens complement each other and the IoTeX token economy, establishing a complete economic and reputation incentive mechanism, further strengthening the concept of IoTeX network decentralization, and fully applying it to the Internet of Things products "enabled by IoTeX".

In IoTeX networks, individual entities access and use various network resources by using, staking and destroying IoTX. As the utility of IOTX tokens increases, its demand and value will continue to grow, and it will continue to inspire many participants to support, maintain and serve IoTeX networks.