Technology Architecture
$IOTX adopts privacy-centered blockchain technology, providing flexibility and scalability by utilizing a fast consensus mechanism based on Proof-of-Stake and side-chain technology. This design aims to solve the problems of large-scale application of Internet of Things (IoT) technology, including scalability, privacy protection, high operating costs and lack of functional value. IOTX's technical architecture includes separation of responsibilities, built-in privacy protection, Occam's razor principle (that the simplest solution is often the right one), and a low-resource blockchain designed for IoT devices. The core technology includes the root blockchain and sub-chains, as well as cross-blockchain communication, enabling a “blockchain within a blockchain” architecture.
economic model
IOTX is the core of the IoTeX network, with a maximum supply of 10 billion units and 94.4% of the circulation so far. IOTX is not only used to pay gas fees for transactions and smart contracts, but also supports the operation of decentralized applications (DApps), allowing holders to participate in network governance and receive rewards through staking and voting. IoTeX’s token distribution plan is designed for long-term stability and growth, including private placement, community development, team, ecosystem development, Roll-DPoS mining and foundation. IoTeX also launched the Burn-Drop v2 token economic strategy to encourage community participation and network expansion.
Financing Amount & Lead Investment Company
IOTX raised a total of approximately US$35 million in early stage funding, including Series A. The initial coin price is $0.0070. IOTX’s strategic partners and investors include Blockchain Foundation and Jinse, among others. It recently received $50 million in financing from companies including Borderless Capital.
project team
IOTX’s team has extensive experience in cryptocurrency and cryptography. Raullen Chai, one of the co-founders, has a PhD in cryptography, has held a leadership role in encryption R&D at Uber, and was also a security engineer at Google. The other two co-founders are Qevan Guo, who holds a PhD in machine learning and computer vision, and Jing Sun, who has extensive investment experience in the blockchain, security and IoT fields.
Social MediaHot
In 2023, IoTeX made a huge real-world impact in the DePIN field by participating in or hosting more than 20 conferences and events.The R3AL WORLD hosted by it is the first and largest live event for the DePIN project, attracting more than 5,000 participants and 500k+ social media exposure. In addition, IoTeX's Layer 1 blockchain and ecosystem remained online 100% of the time in 2023, processing 111M+ transactions and 740 verified smart contracts. These activities and achievements have attracted widespread attention on social media, demonstrating IoTeX's influence in the blockchain and IoT fields and the activeness of the community.
Chart Analysis
From the weekly chart, at the end of 23, the rise broke through the bottom of the large pressure range, and completed a complete retracement against the previous pressure range in January-February this year to confirm that the support was effective and began to rise. At present, it is still in the rising channel of the daily line, and the EMA moving average is in a bullish arrangement, which is bullish in the big cycle. Spot can be bought in small quantities for testing, and then slowly increase positions according to the situation.
