Leading the trend of integrating blockchain with IoT technology, the IoTeX project has garnered significant interest from a large number of investors.
So what is IoTeX? Let’s learn about the Modular DePIN project for IoT Network with AZCoin through the article below!
What is IoTeX?
IoTeX is a pioneering platform for integrating the real world with digital technology through architecture. DePIN and Decentralized Private model on IoT Network in a flexible way.
The project’s goal is to power the Internet of Trusted Things, improving scalability, privacy, and interoperability between IoT devices and applications. The platform allows users to connect real-world data and devices to blockchain, facilitating the development of secure and intelligent IoT applications and ecosystems.
In addition, with the launch of the W3bstream feature, IoTeX is not only about technology but also opening the door to remarkable innovations and unlimited potentials in the DePIN network. IoTeX is not just about technology, it is about creating a more connected, secure and convenient future for everyone.
Special features of IoTeX project
IoTeX’s most distinctive feature is its strong team and industry-leading expertise. In addition, the project is also a pioneer in using leading technology in the blockchain and IoT fields.
Notably, IoTeX has been recognized by the IoT industry when it was selected as a Co-Chair of the Industrial Internet Consortium (IIC) Blockchain Group along with Amazon and Huawei.
Not only that, IoTeX also built its own entire blockchain system, IoT middleware and launched many blockchain-integrated IoT products in just 2 years.
In addition, IoTeX focuses on providing a comprehensive IoT solution and has proven this with its Ucam product. IoTeX’s platform enables the use of trusted devices and data, allowing users to focus on developing their applications without worrying about the rest. This is the project’s “plug and play” vision for the future of IoT.
IoTeX Featured Products
Within its ecosystem, IoTeX offers groundbreaking features that combine IoT and blockchain technology, opening up innovative solutions to bridge the physical and digital worlds. Two prominent products, Ucam and Pebble, are prime examples of the transformative potential of this fusion.
- Ucam (The world’s first blockchain-powered home security camera): With the innovation of IoTeX, this product has changed the way we look at home security. With the CES Innovation Award 2020 for Cybersecurity & Privacy, Ucam not only brings a good security product, but also opens a new standard for security. With an affordable price of only about 50 USD, Ucam provides an unbelievable level of security, from blockchain-based login to end-to-end encryption.
- Pebble (Real-time Trusted Data Collector) : Pebble is a groundbreaking blockchain-based device that records real-world data in real-time. With the collaboration between IoTeX and Nordic Semiconductor, Pebble creates a secure and tamper-proof approach to hardware and software integration. With the ability to collect trusted data from multiple perspectives such as location, climate, and movement, Pebble promises to open up a range of new applications in the future.
In addition, the IoTeX ecosystem has a diverse range of products and partners, from blockchain payment solutions to cutting-edge DeFi platforms. IoTeX’s W3bstream, a blockchain-agnostic platform, provides users with tools and middleware to accelerate development and monetize their data, gradually ushering in a fair and user-centric digital world.
Basic information about IOTX token
Basic parameters of IOTX token
- Token Name: IoTeX
- Ticker Symbol: IOTX
- Supported Blockchains: Ethereum, BNB Chain, Polygon
- Contract Addresses:
- Ethereum: 0x6fb3e0a217407efff7ca062d46c26e5d60a14d69
- BNB Chain: 0x9678e42cebeb63f23197d726b29b1cb20d0064e5
- Polygon: 0xf6372cdb9c1d3674e83842e3800f2a62ac9f3c66
- Total Token Supply: 10,000,000,000 IOTX
- Circulating Supply: 9,441,378,955 IOTX
IOTX Token Allocation
- Private sale: 24,00%
- Team: 15,00%
- Foundation: 25,00%
- Mining (Roll-DPoS): 12.00%
- Ecosystem development: 18,00%
- Community: development: 6,00%
Uses of IOTX token
- Gas Fees : IOTX is used to pay gas fees for transactions and contracts on the IoTeX network.
- Governance : Users can use IOTX to participate in voting on important decisions about how the network is managed and developed.
- Service usage rights : IOTX is also used for staking by service providers, ensuring that they provide services to users and devices accurately and reliably.
- Device Registration: Users can use IOTX to register devices that want to join the IoTeX network.
Where to buy/sell IOTX tokens?
Currently, you can buy IOTX tokens on exchanges such as Binance, Coinbase, KuCoin, cooperative.
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Project development team
IoTeX’s team includes over 30 top engineers and scientists from Uber, Google, Intel, Facebook and other leading technology companies. Notably, the team includes:
- Raullen Chai (Strategy, Blockchain, Eco): He is a Cryptography Research Scientist at the University of Waterloo, Head of Crypto R&D at Uber and a Security Engineering Lead at Google.
- Jing Sun (Operation, Eco, Investment): She is a founding partner of Sparkland Capital. Leading over 40 investments and innovations in blockchain, security and IoT.
Investors in the IoTeX project
In February 2018, IoTeX held a private sale and distributed 24% of its total supply. The token sale raised 25,000 ETH, equivalent to about $20 million at the time.
In April 2024, IoTeX announced the raising of $50 million in investment capital for the IoTeX ecosystem from leading investors including SNZ Capital, Foresight Ventures, Borderless Capital, Amber Group, FutureMoneyGroup and many other investment funds.
This investment will be used to accelerate the development of DePIN through long-term IOTX token investments, as well as support DePIN projects developing on IoTeX. This is an important step that marks IoTeX’s continued commitment to shaping and driving the development of decentralized and secure IoT.
Summary
Through this article, you have probably grasped some basic information about the IoTeX project to make your own investment decisions. As per the indemnity clause, AZCoin takes no accountability for any monetary choices you make. We extend our best wishes and hope you reap the rewards of this lucrative market.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
