IoTeX (IOTX)
IoTeX (IOTX): The Blockchain for IoT and DePIN
IoTeX (IOTX) is a decentralized platform building the future of the Internet of Things (IoT) and the machine economy. As a Layer-1 blockchain, it is specifically engineered to support Decentralized Physical Infrastructure Networks (DePIN), where users can monetize their real-world data and device resources. The network aims to create a secure and trustworthy environment for interactions between humans and machines, unlocking new value from the vast amounts of data generated by connected devices. By providing a scalable and EVM-compatible infrastructure, IoTeX empowers developers to create innovative dApps for smart homes, supply chain management, and more.
The core mission of IoTeX is to ensure that individuals, not corporations, own and control their data and smart devices. The platform utilizes a unique Roll-DPoS consensus mechanism to achieve high throughput and low transaction fees, making it suitable for the high-volume data streams typical of IoT applications. Through its middleware component, W3bstream, IoTeX connects on-chain smart contracts with off-chain data from the physical world, enabling a new generation of real-world applications built on a decentralized foundation.
Technology
IoTeX's technology is built on a fast, EVM-compatible Layer-1 blockchain using a Randomized Delegated Proof of Stake (Roll-DPoS) consensus mechanism. This design ensures high scalability, decentralization, and near-instant finality, processing thousands of transactions per second with low fees. A key innovation is W3bstream, a decentralized off-chain compute infrastructure that connects real-world data from IoT devices to on-chain dApps. This allows smart contracts to react to physical events, bridging the gap between the digital and physical realms and forming the backbone of the DePIN ecosystem.
Tokenomics
The IOTX token is the native digital asset of the IoTeX network, serving multiple critical functions. It is used to pay for gas fees for transactions and smart contract execution. Token holders can stake IOTX to participate in network governance and secure the blockchain, earning rewards in return through a model called Burn-Drop, which increases token scarcity. IOTX is also required for registering new devices on the network, creating a direct link between network growth and token utility. This comprehensive tokenomics model is designed to foster a sustainable and participatory machine economy.
Ecosystem
IoTeX is a leader in the rapidly growing Decentralized Physical Infrastructure Network (DePIN) sector. It provides the foundational layer for a wide range of projects that build and manage real-world infrastructure in a decentralized manner. The ecosystem includes dApps for smart mobility, environmental monitoring, asset tracking, and personal wellness. By offering a specialized platform for IoT and real-world data, IoTeX differentiates itself from general-purpose blockchains. Its main competitors are other platforms focusing on IoT or real-world asset tokenization, but IoTeX's dedicated infrastructure and W3bstream middleware provide a distinct advantage for DePIN developers.
Frequently Asked Questions
IoTeX (IOTX) is a blockchain platform for the Internet of Things (IoT) and Decentralized Physical Infrastructure Networks (DePIN). Its native token, IOTX, is used for paying transaction fees, staking to secure the network, participating in governance, and registering IoT devices.
You can buy IoTeX (IOTX) on major cryptocurrency exchanges like Binance, Coinbase, and KuCoin. Typically, you need to create an account, complete verification, and then you can purchase IOTX using fiat currency (like USD or EUR) or by exchanging it for other cryptocurrencies such as BTC or ETH.
DePIN stands for Decentralized Physical Infrastructure Networks. It refers to blockchain-based projects that build and maintain real-world hardware infrastructure. IoTeX is a foundational Layer-1 blockchain specifically designed to support DePIN projects, enabling them to connect physical devices and data to the blockchain securely.
Yes, you can stake IoTeX (IOTX) to help secure the network and earn rewards. By delegating your IOTX tokens to one of the network's delegates (validators), you participate in the Roll-DPoS consensus mechanism and receive a share of the rewards generated by the network.
IoTeX's uniqueness comes from its focus on IoT and DePIN, powered by its Roll-DPoS consensus for speed and scalability. Its most distinct feature is W3bstream, a middleware that connects real-world data from devices to on-chain applications, enabling smart contracts to interact with the physical world.
IoTeX uses blockchain technology and cryptographic security to ensure data integrity and privacy. By decentralizing control, it prevents single points of failure and unauthorized access. Devices are given decentralized identities (DIDs), and data can be encrypted and processed securely, giving users full ownership of their information.
You can store your IoTeX (IOTX) tokens in a secure wallet that supports the IoTeX network. The official ioPay wallet is available as a mobile and desktop app. Hardware wallets like Ledger and Trezor also offer support for IOTX, providing the highest level of security for your digital assets.
While IoTeX is EVM-compatible, allowing it to run Ethereum smart contracts, its core architecture is optimized for IoT and DePIN. It offers higher throughput, lower fees, and specialized tools like W3bstream for real-world data integration, which are not native features of general-purpose platforms like Ethereum (ETH).
