IoTeX (IOTX) is redefining how machines and people interact in the digital age. As a privacy-centric, EVM-compatible Layer 1 blockchain, IoTeX enables secure, trustless communication between humans and smart devices—ushering in what it calls the Internet of Trusted Things (IoTT). With real-time data from over 9,000 connected devices, IoTeX is building a decentralized ecosystem where machines can not only communicate but also generate value.
Today, IOTX trades at $0.02099 USD**, with a 24-hour trading volume of **$5.57 million. The token has seen 0.00% change over the past day, reflecting short-term market stability. With a circulating supply of 9.44 billion IOTX out of a maximum cap of 10 billion, the network is approaching full token distribution while maintaining controlled scarcity through its unique burn-drop mechanism.
What Is IoTeX?
At its core, IoTeX is a blockchain purpose-built for the Internet of Things (IoT). Unlike traditional IoT systems—which suffer from data silos, security flaws, and lack of user ownership—IoTeX empowers users to own their devices and monetize their data.
The network supports Ethereum Virtual Machine (EVM) compatibility, enabling developers to deploy decentralized applications (dApps) seamlessly. Projects like Cyclone (privacy protocol), Mimo (DeFi yield optimizer), and tools like ioPay wallet and ioTube bridge form a growing ecosystem that enhances utility across chains and use cases.
By integrating physical devices—such as the UCam security camera or Pebble environmental tracker—into the blockchain, IoTeX allows machines to become autonomous economic agents. These devices can report verified data, trigger smart contracts, and even earn rewards—all without centralized intermediaries.
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A Brief History of IoTeX
Founded in 2017 by a team of cryptography and blockchain veterans—including Jing Sun, Qevan Guo, and Raullen Chai—IoTeX was created to address critical gaps in IoT infrastructure: trust, privacy, and decentralization.
The project launched its native token, IOTX, in 2019 after a private funding round held between January and February 2018. Due to regulatory considerations, the sale was limited to around 50 accredited investors who contributed over 25,000 ETH—worth approximately $20 million at the time—in exchange for 2.4 billion IOTX tokens (24% of total supply).
This early support laid the foundation for rapid development. By 2021, IoTeX introduced self-sovereign hardware like the Pebble Tracker, a GPS-enabled device that securely streams environmental data to the blockchain. This marked a turning point: real-world machines were now active participants in a decentralized economy.
A key innovation came with the introduction of the Burn-Drop mechanism, a deflationary model designed to align long-term stakeholders with ecosystem growth.
Understanding the Burn-Drop Model
IoTeX’s Burn-Drop program allocates 1 billion IOTX tokens to incentivize real-world device adoption. Here's how it works:
- 900 million IOTX are permanently burned as more "Powered by IoTeX" devices come online.
- 100 million IOTX are distributed to long-term token holders as rewards.
- The process concludes once 1 million devices are registered on the network.
This creates a powerful feedback loop: every new connected gadget reduces total supply while rewarding loyal participants. It's not just tokenomics—it's an economic engine tied directly to tangible technological adoption.
As of now, over 9,366 smart devices are already integrated into the network, proving demand for trustworthy machine-to-machine interaction.
How Does IoTeX Work?
IoTeX combines cutting-edge blockchain architecture with real-world device integration through several key technologies.
Trustless Data Oracles with Trustline
One of IoTeX’s standout features is Trustline, a Layer-2 oracle system that bridges off-chain devices with on-chain smart contracts. Traditional oracles fetch data from centralized sources, creating single points of failure. Trustline solves this by using decentralized sensors—called oracles—that securely transmit verified machine data directly to the blockchain.
These oracles monitor everything from temperature readings to GPS locations, ensuring tamper-proof input for dApps relying on real-time physical world data.
Interoperability via Cross-Chain Bridges
IoTeX enhances usability with ioTube, a cross-chain bridge allowing seamless asset transfers between IoTeX, Ethereum, BNB Chain, and other major networks. This interoperability ensures liquidity flows freely across ecosystems without sacrificing security.
Scalable Consensus: rollDPoS
To balance speed, security, and decentralization, IoTeX uses rollDPoS (Rollup Delegated Proof-of-Stake)—a hybrid consensus mechanism combining rollup efficiency with DPoS governance.
In rollDPoS:
- Token holders stake IOTX to vote for delegates.
- Delegates validate transactions and maintain network integrity.
- Randomized selection prevents centralization and boosts fairness.
This results in fast finality (under 5 seconds), low fees, and high throughput—ideal for high-frequency machine interactions.
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What Is IoTeX Used For?
IoTeX transforms passive machines into active economic participants through its MachineFi vision—the fusion of machines and finance. Under this model:
- Users connect IoT devices (like trackers or cameras) to the IoTeX network.
- Devices generate verifiable data streams.
- Data triggers automated payouts via smart contracts.
- Owners earn IOTX rewards simply by contributing useful information.
For example:
- A farmer uses soil sensors to monitor crop conditions.
- Data is sent to a DeFi platform that adjusts insurance premiums automatically.
- The farmer earns IOTX for providing reliable agricultural insights.
This opens up new income streams for individuals while supplying valuable datasets to industries like agriculture, logistics, health tech, and smart cities.
Developers also benefit from a robust toolkit:
- Full EVM compatibility
- Low-cost transactions
- Modular SDKs for hardware integration
- Privacy-preserving protocols like Cyclone
All of this makes IoTeX one of the most practical blockchains for real-world asset tokenization and automation.
Frequently Asked Questions (FAQ)
What is the purpose of the IOTX token?
IOTX serves multiple roles: staking for voting rights in governance, paying transaction fees, securing the network via delegation, and earning rewards through Burn-Drop and MachineFi applications.
Is IoTeX EVM-compatible?
Yes. IoTeX supports EVM compatibility, meaning developers can deploy Solidity-based smart contracts directly onto the network without modification.
How many devices are currently connected to IoTeX?
Over 9,366 smart devices are actively connected to the IoTeX blockchain, including UCam cameras and Pebble trackers. The network aims to reach 1 million registered devices to complete its Burn-Drop cycle.
Can I stake IOTX tokens?
Absolutely. Users can stake IOTX to vote for delegates in the rollDPoS system. Stakers earn rewards in additional IOTX while helping secure the network.
What makes IoTeX different from other IoT blockchains?
Unlike most IoT-focused projects, IoTeX combines hardware development (e.g., Pebble), privacy-first design, EVM compatibility, and a working Burn-Drop economy—all within a scalable rollDPoS framework.
Where can I buy IOTX?
IOTX is listed on multiple global exchanges and can be traded against major cryptocurrencies and fiat pairs. Wallet integration with ioPay also simplifies access for non-technical users.
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Final Thoughts
IoTeX stands at the intersection of blockchain innovation and real-world utility. By connecting machines to decentralized networks, it enables a future where users—not corporations—own their data and profit from it.
With strong fundamentals, an active developer community, and tangible hardware adoption, IOTX is more than just another smart contract platform. It’s building the infrastructure for a decentralized machine economy—one sensor at a time.
As IoT expands globally—from wearables to industrial automation—the need for trusted, private, and user-controlled systems will only grow. IoTeX is positioning itself as a leader in that transformation.
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