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IoTeX

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1 IOTX = 0.04020 USD
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What Is IoTeX?

IoTeX is a decentralized, open-source blockchain platform conceived with the ambitious vision of amalgamating cryptocurrency technology with the Internet of Things (IoT). Established in 2017 by a proficient team including Jing Sun, Raullen Chai, Qevan Guo, and Xinxin Fan, IoTeX aims to foster a decentralized ecosystem where users and their IoT devices can interact in secure, trustless environments. This revolutionary platform is driven by a mission to democratize access to machine-backed decentralized applications (dApps), assets, and services, thereby empowering individuals and businesses to own and control their devices and the data generated by them.

At the core of IoTeX's innovation is its unique architecture, which leverages a blockchain-in-blockchain mechanism connected through a root block and multiple sidechains. This structure, coupled with a Roll-Delegated Proof of Stake (Roll-DPoS) consensus mechanism, facilitates high throughput and scalability, enabling a seamless connection of IoT devices block by block. Moreover, IoTeX is committed to addressing the pressing challenges in the IoT space, including scalability, privacy, and data integrity, by offering solutions like confidential transactions and cross-chain compatibility.

Resources

Official Documents: https://onboard.iotex.io/

Official Website: https://iotex.io/

How Does IoTeX Work?

The IoTeX network operates through a scalable blockchain infrastructure that connects humans and machines in real-time, overcoming the scalability issues that plague many blockchain networks. Its blockchain-in-blockchain infrastructure is designed to cater to the diverse needs of different IoT applications, thereby decentralizing duties via sidechains and enhancing efficiency levels.

IoTeX's main blockchain functions as a gatekeeper, ensuring the security and integrity of interactions between parallel chains and their respective devices. This innovative approach allows for a lighter and faster transactional state, fostering a network where lightweight IoT devices can efficiently participate, thereby reducing resource requirements and energy consumption.

Furthermore, IoTeX employs several lateral blockchains to accommodate the vast array of applications, software, and hardware encompassed within IoT technology. This multi-chain structure ensures that the main chain remains secure and intact, even if issues arise in the parallel chains, thereby safeguarding the overall network.

What Is IOTX Token?

IOTX is the native token of the IoTeX network. It facilitates various network operations, including transactions, staking, and governance activities. Users utilize IOTX to register their devices on the blockchain, conduct transactions, and even monetize their data by sharing or selling it, receiving IOTX tokens as rewards.

Moreover, IOTX token holders can actively participate in the network's governance by staking and voting for delegates, thereby influencing the future trajectory of the network. This participatory approach fosters a decentralized governance structure, where the community has a significant say in the network's evolution.

IoTeX's Impact on Finance

In the financial realm, IoTeX is poised to make a substantial impact by fostering a new machine economy. By integrating blockchain technology with IoT, IoTeX facilitates secure data transfer and interactions between IoT devices, thereby opening up new avenues for financial transactions and innovations.

Furthermore, IoTeX's approach to decentralization empowers users to take control of their data, offering a promising alternative to the current IoT networks where data is often controlled by centralized entities. This shift towards a user-centric model can potentially revolutionize the financial sector, paving the way for more transparent and secure financial transactions.

Moreover, IoTeX's commitment to privacy and interoperability positions it as a potent force in the financial sector, capable of facilitating seamless exchange of data and assets between different blockchains, thereby fostering a more inclusive and interconnected financial ecosystem.

What Determines IoTeX's Price?

The IoTeX platform has been meticulously crafted to address the unique challenges of the IoT sector, including scalability, privacy, and data integrity. Its native cryptocurrency, IOTX, has witnessed significant growth, showcasing its potential as the best crypto investment for 2023. The cryptocurrency market analysis indicates that the IOTX token has been on a bullish run, offering substantial returns to its investors. As the platform continues to expand, introducing new products and forming partnerships, it is expected to influence the cryptocurrency price prediction positively. Moreover, the IoTeX blockchain's eco-friendly nature, characterized by low energy consumption and efficient resource utilization, appeals to a broader audience, potentially driving further adoption and positively impacting the cryptocurrency price.

However, like any other cryptocurrency, IOTX is not immune to market volatility. Investors and cryptocurrency experts must remain vigilant of the cryptocurrency risks associated with high volatility, which has been evident in the fluctuating prices of IOTX. Furthermore, potential investors should be wary of cryptocurrency scams and ensure to buy on cryptocurrency exchanges such as Bitget to safeguard their investments. As the IoTeX platform continues to evolve, offering innovative solutions and fostering a vibrant crypto community, it holds the potential to redefine the cryptocurrency trends in the coming years, making it a focal point for cryptocurrency news and analysis.

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coin.24Hcoin.7dayscoin.30dayscoin.90dayscalculator.common.one_yearcoin_market.all_time
-3.11%-0.65%-2.36%+3.35%+69.49%+474.42%

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24h$0.03949$0.04145
7d$0.03698$0.04288
30d$0.03423$0.04338
90d$0.02847$0.04732
1y$0.02150$0.09256
coin_market.all_time$0.001239(2020-03-13, coin_market.years_ago )$0.2611(2021-11-13, coin_market.years_ago )

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$379,498,033.71
-3.11%
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$401,952,197.39
-3.11%
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$10,221,598.44
-7.50%
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+99.00%
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9,441,372,000 IOTX
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9.44B IOTX
-- IOTX
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$0.008300 coin.ico_detail
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3
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283(#544)
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321
-11%
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70(#450)
-36%
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0.01%
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1
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100%
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59
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65
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0
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Peaq Backs $100M DePIN Fund III by Borderless Capital, Fuels Decentralized Infrastructure
Peaq Backs $100M DePIN Fund III by Borderless Capital, Fuels Decentralized Infrastructure

Peaq invests as an anchor investor in DePIN Fund III, a $100 million fund by Borderless Capital. This fund aims to support the growth of DePIN projects.

CryptoNews2024-09-19 20:36
Borderless Capital launches its third DePIN-focused fund worth $100 million
Borderless Capital launches its third DePIN-focused fund worth $100 million

Share link:In this post: Borderless Capital introduced a $100 million fund to power decentralized physical infrastructure. The fund is backed by Jump, IoTeX, Peak, Wormhole Foundation, and Solana Foundation. DePINs have attracted venture capitalists since their inception and have a market cap of over $25 billion.

Cryptopolitan2024-09-18 16:00

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Is IoTeX (IOTX) a good investment?

IoTeX, with its diverse ecosystem and strong technical foundation, aims to pioneer an open machine economy, making it an appealing investment prospect. The platform features EVM compatibility, ensuring seamless integration with major blockchains and enabling dApps to scale without high gas fees. IoTeX has successfully launched real-world products like Ucam and Pebble, proving its ability to meet consumer and developer needs. The unique "Burndrop" economic model could potentially increase the value of IOTX, further enhancing its investment attractiveness.

What is IOTX price prediction?

Several elements may contribute to a favorable IoTeX (IOTX) price prediction. The ongoing development and launch of innovative technologies and products by the IoTeX team stand as primary factors. The growing adoption of IoTeX products such as Ucam and Pebble, coupled with increased usage of the IoTeX blockchain, have the potential to elevate the value of IOTX. Furthermore, the EVM compatibility of IoTeX offers a scalable solution for EVM-based dApps without the burden of high gas fees, making it an attractive platform for developers and businesses. This compatibility can potentially boost demand for IOTX, influencing its price positively. Lastly, IoTeX's distinctive "Burndrop" economic model, which leads to IOTX deflation as more devices integrate with IoTeX, could also act as a catalyst for positive price movement. This model enhances the scarcity and potentially the value of IOTX, making it an interesting asset in the crypto market.

What is the use case of IOTX token?

IOTX serves as the intrinsic cryptocurrency for the IoTeX blockchain network, embodying diverse applications, such as: Transaction Fee Payment: Essential for sustaining and fortifying the blockchain, transaction fees on the IoTeX network are paid using IOTX tokens. IOTX Staking: Token holders can stake IOTX to be actively involved in the network's consensus mechanism. This participation not only enhances the network’s security and functionality but also earns stakers IOTX rewards, sourced from transaction fees. Network Governance: By staking, IOTX token holders acquire voting rights, influencing the decision-making processes and steering the developmental trajectory of the IoTeX network. dApp Development: IOTX is fundamental for developers building smart contracts, crafting dApps, and generating new tokens on IoTeX's versatile multi-chain platform. It is pivotal in enabling and ensuring the seamless operation of various applications within the ecosystem.

What are IOTX tokenomics?

In 2023, there were 9.7 billionIOTX tokens in circulation. These tokens serve a dual purpose; they are utilized as gas for transactions on the IoTeX blockchain and play a pivotal role in governing the blockchain protocol. The network’s security and the integration of new blocks into the blockchain are upheld through a Delegated Proof-of-Stake mechanism. In this arrangement, the stakeholders’ votes determine the Block producers, who are then rewarded for their contributions. These rewards can be shared with the stakeholders who supported them, fostering incentives for both parties. A distinguishing characteristic of IoTeX's tokenomics is the "Burndrop" approach. This model ensures that as the quantity of devices orchestrated by IoTeX escalates, it induces a deflationary effect on IOTX. The primary objective of this economic structure is to augment the value of IOTX progressively.

What gives IoTeX value?

In today’s technological era, a myriad of smart devices, forming the Internet of Things (IoT), are rapidly integrating into our lives, enhancing efficiency and creating value. However, the control of the IoT largely rests with institutions, leading to potential data manipulation and privacy concerns. In response, IoTeX envisions a user-centric future that prioritizes privacy and security without compromising usability. IoTeX facilitates the development of privacy-preserving IoT devices and networks, aiming to establish a decentralized ecosystem akin to Bitcoin's impact on finance, heralding the advent of the Internet of Trusted Things!

Who are IoTex partners?

IoTeX works closely with major IoT manufacturers, research/standards institutions, and other blockchain companies, some of them include: Industrial Internet Consortium: IoTeX is the Co-Chair of IIC Blockchain Group along with Amazon & Huawei Tenvis: security camera enterprise, currently Amazon’s Choice; IoTeX co-launched Ucam private home cameras as the first “Powered by IoTeX” product Nordic Semiconductor: one of the largest IoT chip manufacturers in the world; IoTeX is collaborating on Pebble Tracker, a next-gen trusted asset tracker IPFS: decentralized storage for “Powered by IoTeX” products, starting with Ucam IEEE: core contributor to IEEE’s Blockchain+IoT standards, along with enterprises ThingsBoard: advanced IoT data visualization for smart device builders

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PHOENXCORP
PHOENXCORP
insight113/750
215.60%
price_sidebar.roi
price_sidebar.total_pnl $938,815.34
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insight397/500
188.19%
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price_sidebar.total_pnl $3,860,531.29