IoTeX is a decentralized platform designed to foster open economics for machines. It's an ecosystem where machines and humans can interact with trust, free will, and under well-structured economic incentives. Launched in 2019, this platform has processed over 10 million transactions and is run by more than 100 delegates worldwide.
The brains behind IoTeX include Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun. These founders bring a wealth of experience from their previous roles at Uber, Facebook, Bosch Research and Technology Center, and Sparkland Capital. Their combined expertise has been instrumental in the development and success of IoTeX.
IoTeX's native coin, IOTX, governs the underlying blockchain protocol and is also used as the gas for the blockchain protocol. A unique economic design called Burndrop leads to the deflation of IOTX as the number of devices orchestrated by IoTeX increases.
IoTeX can be purchased on various cryptocurrency exchanges. However, it's important to do your research and choose a reputable exchange that offers security and ease of use. Always ensure to follow best practices for security when buying and storing your IoTeX.
IoTeX is primarily used to power machine economics, serving a range of machines from smart home devices to autonomous vehicles. It provides a fast, high-performance, and flexible blockchain that offers scalability for various applications. Additionally, it enables the creation of self-sovereign devices and real-world data oracles.
IoTeX continues to make strides in the crypto world. The team has built essential infrastructure blocks to connect with Ethereum, BSC, and Heco blockchains. This has resulted in the creation of the ioPay wallet and ioTube bridge, serving thousands of users. Furthermore, middleware such as Decentralized Identity, Confidential Computing, and Secure Hardware has been built on top of the IoTeX blockchain. This has led to the creation of self-sovereign devices like Ucam and real-world data oracles like Pebble.
IoTeX's Ucam has been deployed to over 3000 households, while Pebble has been launched to more than 300 developers. This has enabled innovative Dapps to connect the physical world with the crypto world, leading to the creation of real-world NFTs, weather derivatives, and machine learning-as-mining.
IoTeX has been making significant strides in the tech world. The company recently released a major update, version 1.3, which allows users to stake and earn up to 15% APY on the platform. This update is a significant step forward for IoTeX as it now has its own cryptocurrency available for trading and staking in the US market. The company also launched a new cross-chain bridge for token swaps with Binance Smart Chain and Binance’s BSN, further enhancing its blockchain capabilities.
In recent news about IoTeX, the company has been actively forming strategic partnerships. It teamed up with Morpheus.Network on a blockchain-based proof of concept for supply chain tracking, using geolocation data from the Pebble tracking device. Additionally, IoTeX announced a collaboration with Google Cloud to aid in its global expansion. The partnership with Google Cloud is expected to evolve in exciting new directions, further solidifying IoTeX's position in the blockchain and IoT space.
IoTeX has been actively engaging with its community through initiatives like the IoXperts Live video series and the launch of the IoXe Forum. The company also introduced a new governance framework to ensure sustainable, transparent, and fair growth of the IoTeX network. Delegates can now propose new governance ideas, which are voted upon by token holders and implemented by core developers.
IoTeX's recent developments have attracted significant investments. MachineFi Lab, associated with IoTeX, raised $10 million in seed funding from various investors. With its innovative technology and strategic partnerships, IoTeX is poised for increased adoption and growth. If you're wondering where to buy IoTeX, it's now available for trading and staking in the US market.