Understanding IoTeX Today
The current price of IoTeX (IOTX) is $0.02099 USD** with a 24-hour trading volume of **$5.57 million. Over the past 24 hours, IOTX has remained stable (±0.00%). The circulating supply stands at 9.44 billion IOTX, with a maximum supply capped at 10 billion tokens.
👉 Explore IoTeX's latest price trends
What Is IoTeX?
IoTeX is an EVM-compatible Layer 1 blockchain designed to enable secure interactions between humans and machines. It powers a decentralized ecosystem featuring:
- DApps (e.g., Cyclone, Mimo)
- Smart devices (e.g., UCam, Pebble Tracker)
- Services (ioPay wallet, ioTube bridge)
- Digital assets
By leveraging the IOTX token, users connect IoT devices to the IoTeX network, fostering the "Internet of Trusted Things" (IoTT)—a framework prioritizing data sovereignty and user-controlled value.
IoTeX’s Evolution: Key Milestones
Founded in 2017 by Jing Sun, Qevan Guo, and Raullen Chai, IoTeX addresses IoT security gaps via blockchain. Highlights:
- 2018: Private ICO raised ~$20M (25K ETH), distributing 24% of total IOTX supply.
- 2019: Mainnet launch; private sale tokens fully released.
- 2021: Introduction of Pebble Tracker, a self-sovereign IoT device.
- Burn-Drop Mechanism: 90% of 1B allocated tokens burned upon device registrations (target: 1M devices).
How IoTeX Works
Core Technologies
- Smart Contracts: Bridge real-world devices to blockchain.
- Cross-Chain Data Bridge: Enhances interoperability.
- Truststream Oracles: Layer-2 system for off-chain data verification.
- Roll-DPoS: Hybrid consensus combining delegation and randomness to reduce centralization.
MachineFi
A groundbreaking protocol allowing users to monetize IoT devices and digital assets. Example: Earning rewards via smart sensors.
Use Cases for IOTX
- Device Integration: Add/control IoT sensors in minutes (9,366+ devices currently active).
- Transparent Transactions: Secure, auditable data flows across industries.
- Enterprise Insights: Aggregated device data for operational analytics.
FAQs About IoTeX
1. What drives IoTeX’s value?
Its unique blend of IoT integration + blockchain security, enabling user-owned data economies.
2. How does Burn-Drop benefit holders?
As devices join the network, 10% of burned tokens are redistributed to long-term stakers.
3. Is IoTeX eco-friendly?
Yes! Roll-DPoS consumes far less energy than Proof-of-Work blockchains.
Conclusion
IoTeX merges IoT’s scalability with blockchain’s trustless framework—positioning itself as a leader in decentralized machine economies. With its burn-drop economics and EVM compatibility, IOTX offers tangible utility for developers and end-users alike.