IoTeX is a network architecture solution tailored for the Internet of Things. Its mission is to create an open and trusted IoT ecosystem, so that the information exchange and value exchange of all people and machines can be protected with privacy and become safe and reliable. IoTeX has a native token, IOTX.
IOTX was first issued on May 25, 2018, with an issue price of $0.007 and a total planned issuance of 9.49 billion. The current market circulation is about 9.44 billion pieces, and the current price is 0.014 US dollars, which is about 200% higher than the issue price. The total market value of the current market is 133 million US dollars, and the FDV is about 134 million US dollars.
The contribution of IoTeX is to combine blockchain, trusted hardware, edge computing and other technologies to solve the problems of high cost of centralized IoT devices and frequent privacy issues, and to bring blockchain technology into the world. The advantages of the IoTeX project include extremely low transaction gas (transmission cost of only 0.02 cents), efficient transaction processing speed (TPS reaches 1000), and the adaptation of the EVM virtual machine is beneficial to developers. In addition, IoTeX also launched the world's first data autonomy smart device Ucam camera, which users can use to earn IOTX benefits.
IoTeX was co-founded by Raullen, Qevan and Jing, and the team is currently trying to combine more IoT hardware systems with blockchain systems. In the future, IoTeX will become more and more important in the development of smart cities, and the expansion of the market value of the Internet of Things is bound to bring greater value-added space for IOTX tokens.