IoTeX is a decentralised network of users, developers, and companies who collaborate to manage and use the IoTeX platform. IOTX is a utility token that fuels IoTeX, a platform that connects Internet of Things (IoT) devices like cameras and sensors with decentralised apps. IOTX may also be used to make payments, stake and administer the IoTeX network, and register new devices.
The IoTeX blockchain powers genuine items, such as the CES blockchain-powered cameras and the Pebble geo device, which is perfect for supply chain optimization in any industry.
The August 6 release of ioTube v5 prompted interest in the IoTex project, which includes a new cross-chain bridge with Polygon, an Ethereum (ETH) layer-2 technology that facilitates two-way token swaps between the two protocols. Since then, the IoTeX (IOTX) currency has skyrocketed.
How Does IoTeX (IOTX) Function?
As an EVM-compatible “layer 1” blockchain solution, IOTX presently supports an ever-expanding ecosystem of smart devices, DApps, and digital assets. The IOTX currency facilitates network transactions and smart contracts, as well as allowing anybody to become a shareholder in the IoTeX Network.
The IoTeX mainnet has been running well since April 2019 and is administered decentralised by more than 60 Delegates, including Blockfolio, CoinGecko, and DraperDragon. It also includes a worldwide network of over 100,000 people from more than 100 countries that share a vision for the Internet of Trusted Things.
The IoTeX Brand’s History Is Critical to Its Success
A solid foundation is essential for every effective endeavour. This may be fantastic news for IOTX coin holders, as the firm was founded in 2017 as an open-source platform with the objective of establishing a decentralised environment where humans and machines can connect with guaranteed security and trust.
Unlike many other currencies on the market, IoTeX has a strong value proposition and goal. It aspires to enable regular people and businesses to own and control their gadgets, as well as the data and revenue they generate. By connecting the physical and digital worlds, giving value to users, and fuelling the emerging machine economy, IoTeX wants to democratise access to machine-backed DApps, assets, and services.
What is the Current Price of IoTeX (IOTX):
At the time of writing, IoTeX (IOTX) was trading at $0.06424. It has a 24-hour trading volume of about $272,848,185.85 on exchanges.
How can I buy the IOTX Coin?
IOTX may be purchased as a cryptocurrency on numerous cryptocurrency exchanges around the world. IOTX can be purchased in India at WazirX and other cryptocurrency exchanges. IOTX can be purchased on the following international exchanges: Binance, HitBTC, and Huobi Global. Stay tuned for additional information on cryptocurrency price forecasts.
IoTeX (IOTX) Has a Bright Future:
IoTeX is headquartered in Silicon Valley and is backed by a global team of 30+ top-tier engineers, researchers, and administrators from organisations like Google, Facebook, Uber, Bosch, and others. This initiative includes Raullen Chai (Uber’s Head of Cryptography), Qevan Guo (Facebook’s Product Lead in Machine Learning), and other highly educated individuals.
Furthermore, IoTeX is built on the IoT idea (Internet of Things). The Internet of Things connects our various parts of our surroundings in novel ways and makes everything around us easily connected to the internet. IoT will rule the globe in the next years, and IoTeX may play a significant part in this shift. IoTeX’s goal is to establish a borderless world in which humans and machines may communicate while maintaining trust, freedom, and privacy.
If IoTeX succeeds in dominating the IoT market, IoTex (IOTX) cryptocurrency investors will benefit as the price may rise once again. This is not assured, however, because there are several rivals on the market offering the same, if not a better, solution.