The current price of IoTeX today is $0.02099**, with a 24-hour trading volume of **$5.57M. IOTX has remained stable (±0.00%) over the past 24 hours. The circulating supply stands at 9.44B IOTX, with a max supply of 10B IOTX.
What Is IoTeX?
IoTeX (IOTX) is an EVM-compatible Layer1 blockchain designed to enable secure interactions between users and machines. It powers decentralized applications (DApps), smart devices, and digital assets under its Internet of Trusted Things (IoTT) ecosystem. By leveraging the IOTX token, users connect IoT devices to the IoTeX network, enhancing data privacy and ownership.
History of IoTeX
Founded in 2017 by Jing Sun, Qevan Guo, and Raullen Chai, IoTeX aimed to revolutionize IoT through blockchain. Key milestones:
- 2018: Private sale raised ~25K ETH ($20M).
- 2019: Full token distribution completed.
- 2021: Launched self-sovereign devices like Pebble Tracker.
The Burn-Drop Tokenomics model reduces IOTX supply as more devices join the network:
- 90% of tokens burned.
- 10% distributed to long-term stakers.
How IoTeX Works
- Smart Contracts: Link real-world devices to the blockchain.
- Cross-Chain Data Bridge: Enhances interoperability.
- Roll-DPoS Consensus: Combines Delegated Proof of Stake with randomization for efficiency.
- MachineFi: Monetizes machine assets (e.g., smart gadgets).
👉 Discover how IoTeX compares to other IoT blockchains
Use Cases of IoTeX
- Device Integration: Add and monitor IoT sensors effortlessly.
- Enterprise Solutions: Transparent data tracking for operational insights.
- Decentralized Applications: Includes Cyclone (privacy mixers) and Mimo (DeFi).
FAQ
What is the max supply of IOTX?
10 billion tokens, with a circulating supply of 9.44B.
How does IoTeX ensure data privacy?
Through Truststream oracles and end-to-end encryption.
Can I stake IOTX?
Yes! Stake tokens to vote for delegates and earn rewards.
👉 Learn more about staking IOTX
Key Takeaways
- IoTeX merges IoT + blockchain for trusted data exchange.
- Burn-Drop model incentivizes long-term participation.
- MachineFi opens new revenue streams for device owners.