IoTeX is IOTX

IoTeX (IOTX) is an auto-scalable and privacy-focused blockchain infrastructure for the Internet of Things (IoT). IoTeX is committed to building a next-generation blockchain platform that supports IoT applications with lightweight, private and easily scalable disruptive blockchain underlying technology. The IOTX token is an important part of the IoTeX network ecosystem and is used for transferring money, running distributed applications, and motivating community participants.

Project Introduction

IoTeX was founded in 2017 as a Silicon Valley open source project, building network architecture from scratch (no forking) and designing solutions tailored for IoT use cases. IoTeX's mission is to create an open and trusted IoT ecosystem, committed to allowing all people and machines to freely interact with information and exchange value in a safe, trustworthy and privacy-protecting environment. Combining blockchain, security hardware, privacy computing and other technologies, the 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. Currently, the IoTeX network is jointly maintained by more than 70 nodes from all over the world, including Blockfolio, CoinGecko, DraperDragon, etc.

IoTeX is a fully decentralized open ecosystem with native token (IOTX). The IOTX token has a variety of uses. Its goal is to ensure trusted, transparent and secure interactions between various entities in the IoTeX network, including nodes, stakeholders (voters), developers, service providers and users, etc. . The IOTX token and the IoTeX token economy complement each other, establishing a complete set of economic and reputational incentive mechanisms, further strengthening the concept of decentralization of the IoTeX network, and fully applying it to IoT products "empowered by IoTeX".

In the IoTeX network, each subject accesses and uses various network resources by using, staking and destroying IOTX. As the utility of the IOTX token increases, its demand and value will continue to grow, continuing to incentivize many participants to support, maintain and service the IoTeX network.

As of this writing, IOTX has a total market capitalization of approximately $412 million, ranking 86th in market capitalization.





What are IoTeX’s core competencies?


In response to a question about competition with projects like Peaq, Raullen emphasized the importance of focusing on industry and legal compliance. He pointed out that IoTeX has continued to focus on the DePIN field for many years and has cooperated with industry giants such as Samsung, Google and ARM, which have given IoTeX a unique competitive advantage in the Web3 field.


Blockchain platforms like Polygon and Solana are larger than IoTeX, but the IoTeX team focuses on collaboration with rivals rather than competition.


"We are not competing with them, but are cooperating to build DePIN. IoTeX is more focused on investing in the field of DePIN."


Raullen further explains the following:


Integration with other large platforms:



  • IoTeX has integrated W3bstream with blockchain platforms such as Polygon, Solana, Arbitrum and Optimism to support DePIN developers on these platforms.

  • W3bstream uses IoTeX L1 as the settlement layer and IOTX as the pledged asset.

  • Notably, the successful DePIN projects on Polygon and Solana will power W3bstream and ultimately contribute to the success of IoTeX.


Focus on DePIN:

  • IoTeX is an L1 blockchain platform designed specifically for the DePIN track, which differentiates it from other general-purpose large-scale L1/L2 blockchain platforms.

  • IoTeX has tailored DePINscan.io, an industry-wide public data aggregator designed for DePIN miners, builders and investors.

  • IoTeX plans to cross-chain blue chip DePIN assets onto the IoTeX chain and trade them on mimo DEX.

  • Future plans also include working with leading projects such as DIMO, Helium and GeoDNet ​​for liquidity mining and proof-of-concepts (PoC) to perform data verification for DePIN through the use of W3bstream.