IoTeX IOTX Price 0.07561150

IoTeX (IOTX) is hard and painstaking work, since starting with an open source project in 2017, IoTeX has built a decentralized platform that aims to empower an open economy for machines - an open ecosystem in which people and machines can interact with guaranteed trust, free will, and with properly designed economic incentives.

Thanks to a global team of more than 40 scientists and engineers, IoTeX has built its EVM-compliant blockchain from the ground up, using the innovative Roll-DPoS consensus. Launched in April 2019, with more than 100 delegates worldwide, it has already processed more than 10 million transactions. 

In addition to the IoTeX blockchain, the team created the main infrastructure blocks for connecting to the Ethereum, BSC and Heco blockchains, such as the ioPay wallet and the ioTube bridge, which serve ten thousand users. IoTeX helps you scale EVM-based dApps without expensivegas charges.

Who are the founders of IoTeX?

The founders of IoTeX are Raullen Chai, Kevan Guo, Xinxin Fan, and Jing Sun.

In addition to being the co-founder of IoTeX, Raullen Chai is also an advisor at BootUP Ventures, and a member of the Industrial Distributed Ledger Task Group at the Industrial Internet Consortium. Previously, he worked as the head of research and development in the field of cryptography and security engineering at Uber.

Kevan Goh is also the co-founder of Hyperconnect Lab. He used to be a research associate and technical manager at Facebook.

Prior to co-founding IoTeX, Xinxin Fan was a senior research engineer at the Bosch Research and Technology Center in North America. He also worked as a research associate and project manager at the University of Waterloo.

Jing Sun also works as a managing partner at Sparkland Capital. She is an LP investor at Polychain Capital and a business angel at Rippling.

What makes IoTeX unique?

IoTeX is a decentralized machine economy framework that caters to a wide variety of machines, from smart home devices, to autonomous vehicles. To this end, IoTeX has created and launched a fast, high-performance, and EVM-compatible blockchain that provides flexibility and scalability for a variety of applications. In addition, middleware and Dapps are built on the blockchain to make self-contained devices and real oracles a reality.

How many IoTeX (IOTX) coins are in circulation?

IOTX is a proprietary coin that manages the underlying blockchain protocol, and is used as the gas for the blockchain protocol. Burndrop is a unique cost-effective design that leads to IOTX deflation, while the number of devices managed by IoTeX increases.

To date, the daily trading volume of the IOTX token is 27,637,451 USD.

With the maximum supply of the IOTX token in the amount of 9,441,378,959 coins IOTX, there is 0.00000000 in circulation, the market capitalization of which is 713,876,853 USD.

How is the IoTeX network protected?

IoTeX has several mechanisms that ensure the confidentiality of users and transactions. Some of them are ring signatures and a secure payment code that hides the address of the recipient of the transaction.

Delegated Proof of Stake (DPoS) works when stakeholders vote for block producers on the network. The number of block producers is set, and once they are elected, they are responsible for adding new blocks to the block chain.

For this, they receive a reward that they can distribute to the interested parties who voted for them, encouraging the block producers to continue working, and the interested parties to continue voting for the block producers.