IoTeX (IOTX)
Launched in 2017, IoTeX is a blockchain platform specifically designed to enhance the Internet of Things (IoT) by enabling devices and systems to operate autonomously and efficiently. Unlike traditional blockchains, IoTeX addresses the unique challenges of the IoT landscape, including scalability, cost reduction, and privacy. It features a blockchain-in-blockchain architecture, where a public root chain oversees independent subchains, offering a structured solution for managing diverse IoT devices. Privacy is a key focus, with features like stealth addresses and zero-knowledge proofs enhancing its suitability for various IoT ecosystems, such as smart homes and supply chain management.
| Ticker | IOTX |
| Category | Internet of Things (IOT) |
| Website | https://iotex.io |
| @iotex_io | |
| Telegram | IoTeXGroup |
| https://www.reddit.com/r/IoTeX | |
| Contract Addresses | |
|---|---|
| ethereum | 0x6f...69 Copied! |
| base | 0xbc...c1Copied! |
W3bstream
W3bstream, developed by IoTeX, is a decentralized protocol that links data from the physical world with the blockchain. It uses a network of nodes to receive and process data from various sources, enabling decentralized applications (dApps) to utilize real-world data through zero-knowledge proofs across different blockchain layers.
Technology of IoTeX
ioTube
ioTube is a decentralized cross-chain bridge that facilitates the transfer of crypto-assets between IoTeX and other blockchain networks. It supports the two-way movement of tokens and stablecoins and enhances IoTeX's capabilities by porting essential assets and data, potentially serving as a backend processor for Ethereum and other blockchains.
Ucam
Ucam is a blockchain-powered home security camera developed by IoTeX, designed to restore data ownership to users. It offers features such as encrypted live streaming, motion detection, and privacy modes, allowing users to manage access and maintain data security.
Pebble Tracker
Pebble Tracker is a Web3 smart tracker by IoTeX, offering robust data security and integrity for supply chain applications. It captures real-time data and provides trusted information, enabling blockchain developers to utilize this data in smart contracts and other blockchain-based applications.
MachineFi
MachineFi, developed by IoTeX, bridges the gap between machine-generated data and decentralized finance (DeFi). It aims to transform traditional IoT sectors into decentralized applications, allowing users to engage in the machine economy by monetizing data and smart device capabilities.
IOTX token
Tokenomics
The IOTX token is the native currency of the IoTeX network, facilitating interactions among network participants. As of August 2020, the total supply was 9.7 billion tokens, distributed across various allocations, including private sales, community rewards, and team incentives.
Burn-Drop
Burn-Drop is a tokenomics strategy where IoTeX plans to burn a portion of its tokens as new devices are onboarded. This process involves burning 900 million IOTX tokens and distributing 100 million to voters, reducing the circulating supply over time.
Governance of IoTeX
The IoTeX governance process involves discussions on the IoTeX Forum and voting on the Governance Portal. Delegates propose new ideas, which are voted on by token holders. Approved proposals are implemented by the IoTeX Foundation and core development entities.
Halo Grant program
The IoTeX Halo Grants Program supports the expansion of the IoTeX ecosystem by encouraging developers to create decentralized applications (dApps). It includes Developer Grants for individual contributors and Project Grants for teams, fostering development in areas like DeFi, NFT, and decentralized infrastructure.
Notable partnerships
Polygon
In August 2023, IoTeX integrated Polygon with W3bStream, allowing dApps to connect to the Polygon chain and utilize real-world data for various applications, including gaming and DeFi.
Arbitrum
In September 2023, IoTeX's W3bstream integrated with Arbitrum, offering dApp developers access to Arbitrum's layer-2 scaling solution, enhancing transaction efficiency and enabling innovative use cases.
Solana
In October 2023, W3bstream integrated with Solana, providing developers access to tools for managing real-world applications and data, expanding the reach of W3bstream applications within Solana's ecosystem.
Optimism
In November 2023, Optimism integrated IoTeX’s W3bStream, enabling developers to enhance their dApps with real-world data, facilitating applications in various sectors like fitness and green energy.
Conflux
On December 23, 2023, IoTeX integrated Conflux with W3bstream, providing DePIN developers access to W3bstream’s middleware capabilities, supporting projects expanding into Asian markets.