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About IoTeX
Key Points
- Started as an open-source project in 2017
- Decentralized platform for machine economics
- 40+ research scientists and engineers
- EVM-compatible blockchain launched in 2019
- Processed over 10 million transactions
- ioPay wallet and ioTube bridge connect to Ethereum, BSC, and Heco blockchains
- Middleware: Decentralized Identity, Confidential Computing, and Secure Hardware
- Ucam deployed to 3000+ households
- Pebble launched to 300+ developers
Founders</h3
About IoTeX: Empowering the Internet of Trusted Things
Introducing IoTeX (IOTX): The Pioneering Internet of Things (IoT) Blockchain
Launched as an open-source project in 2017, IoTeX has developed a decentralized platform with the ambitious goal of empowering an open economy for machines – a novel ecosystem where humans and machines can interact with assured trust, autonomy, and under carefully crafted economic incentives.
With a global team of over 40 research scientists and engineers, IoTeX has
crafted a bespoke EVM-compatible blockchain from the ground up, leveraging
the innovative Roll-DPoS consensus mechanism, which was launched in April 2019.
Since its inception, the blockchain has been maintained by a network of over
100 delegates worldwide and has successfully processed more than 10 million
transactions to date. Building upon the IoTeX blockchain, the team has
established a suite of essential infrastructure blocks, facilitating seamless
interoperability with Ethereum, BSC, and Heco blockchains. Notable examples
include the ioPay wallet (
) and ioTube bridge
(
), which collectively serve tens of thousands of users.
By harnessing the power of IoTeX, EVM-based DApps can now scale effortlessly,
unencumbered by the burden of exorbitant gas fees.
Beyond that, a range of middleware solutions, including Decentralized Identity, Confidential Computing, and Secure Hardware, have been developed on top of the IoTeX blockchain. This has facilitated the creation of self-sovereign devices, such as Ucam, and real-world data oracles like Pebble. Notably, Ucam (
https://ucam.iotex.io/
) has been successfully deployed to over 3,000 households (
http://iott.network/
). Meanwhile, Pebble has been launched to an initial group of over 300 developers, enabling the development of innovative DApps that seamlessly connect the physical world with the crypto world, including real-world NFTs, weather derivatives, and machine learning-as-mining.
The Visionary Founders Behind IoTeX
The visionary founders of IoTeX comprise Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun, a quartet of innovators who have come together to shape the future of blockchain technology.
Besides co-founding IoTeX, Raullen Chai also serves as an advisor at BootUP Ventures and is a member of the Industrial Distributed Ledger Task Group at the Industrial Internet Consortium. Prior to this, he held the position of lead for crypto R&D and engineering security at Uber.
Notably, Qevan Guo is a co-founder of Hyperconnect Lab, boasting an impressive background as a former research scientist and engineering manager at the esteemed Facebook.
Prior to co-founding IoTeX, Xinxin Fan held the position of senior research engineer at Bosch Research and Technology Center, North America, where he leveraged his expertise to drive innovation. Additionally, he has had stints as a research associate and project manager at the University of Waterloo, further honing his skills.
Jing Sun concurrently serves as a managing partner at Sparkland Capital, while also maintaining roles as a limited partner investor at Polychain Capital and an esteemed angel investor at Rippling.
Unveiling the Unparalleled IoTeX: A Trailblazer in the Blockchain Realm
IoTeX constitutes the decentralized foundation for machine economics, catering to a diverse range of machines, from intelligent home devices to autonomous vehicles. To achieve this, IoTeX has successfully developed and launched a high-performance, EVM-compatible blockchain, distinguished by its flexibility and scalability, thereby accommodating a wide array of applications. Furthermore, the blockchain is complemented by middlewares and Dapps, which effectively bridge the gap between self-sovereign devices and real-world oracles, bringing them to fruition.
IOTX, the native cryptocurrency, serves a dual purpose: it governs the underlying blockchain protocol and functions as the gas that fuels the protocol. Notably, Burndrop (
http://burndrop.iotex.io/
) is an innovative economic design that inherently leads to the deflation of IOTX as the number of devices orchestrated by IoTeX continues to grow.
The IoTeX Network’s Robust Security Framework: A Comprehensive Overview
IoTeX boasts a multifaceted approach to ensuring the confidentiality of users and transactions, incorporating innovative mechanisms such as ring signatures and a reliable payment code, which cleverly conceals the recipient’s address.
In a delegated proof-of-stake system, stakeholders exercise their voting power to elect a predetermined number of block producers, who, once appointed, assume the responsibility of appending new blocks to the blockchain.
In return for their efforts, they are rewarded with incentives that can be distributed to the stakeholders who have placed their trust in them, thereby motivating block producers to persist in their endeavors and stakeholders to continue lending their support to these producers.
Where to Acquire IoTeX (IOTX): A Comprehensive Guide
Iotex (IOTX) is widely available for purchase and sale on numerous cryptocurrency exchanges, including:
- Binance
- Coinbase
- Huobi Global
- KuCoin
- PancakeSwap
- MimoSwap