What is IOTX?
IoTeX is an ambitious open source project dedicated to building a path to an open economy for machines. Its grand goal is to build a decentralized platform that allows humans and machines to collaborate with each other and build an open ecosystem under guaranteed trust, free will, and carefully designed economic incentives. In achieving this goal, IoTeX is not alone. Behind the project is a global team of more than 40 research scientists and engineers who are committed to building an Ethereum Virtual Machine (EVM)-compatible blockchain from scratch using an innovative Roll-DPoS consensus mechanism. On the solid foundation of the IoTeX blockchain, the team further built basic infrastructure that connects to blockchains such as Ethereum, BSC, and Heco, such as the ioPay wallet and ioTube bridge, providing convenient services for tens of thousands of users. In addition, the IoTeX blockchain also hosts middleware such as decentralized identity, confidential computing, and secure hardware, which enables the creation of autonomous devices like Ucam and real-world data oracles like Pebble.
IOTX Price Prediction 2024
IoTeX price could rise to a potential high of $0.10948 by the end of 2024. In contrast, lack of mass adoption and reduced industry influence could drop the price to a bottom of $0.05692. Therefore, by the end of 2025, the average price could drop to $0.07720.
iotx is the leader of the depin track. Let’s first talk about what the depin track is. DePIN (Decentralised Physical Infrastructure Networks) has the full Chinese name: decentralized physical infrastructure network. It incentivizes users to deploy hardware devices through tokens to provide real-world goods and services or digital resources. Here you may think of #FIL, which is also part of the whole concept, using the token FIL to provide incentives for users to provide distributed storage hard drives and devices.
So it consists of two parts: PRN &#DRNPhysical Resource Network (PRN): Incentivize participants to use location-based hardware to provide unique goods and services in the real world, such as WIFI, 5G, VPN, energy information sharing, and geospatial data. Digital Resource Network (DRN): Incentivize participants to use hardware to provide real-world physical infrastructure networks with digital resources, such as broadband networks, storage networks, and computing power networks.
Adjusting the token economics model to provide incentives: IoTeX is redesigning its token economics model to attract DePIN builders and the broader community to participate. The goal is to create an ecosystem that encourages stakeholders to actively contribute, including evangelism, earnings, mining, staking, and trading.
Share value with ecosystem contributors: IoTeX emphasizes community collaboration and seeks to align its token model with the value created by IOTX holders, network validators, developers, and social marketers. This ensures fair distribution of value, and as DePIN adoption continues to grow, the overall network value of IoTeX will also increase.
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