IoTeX Price Chart Update [IOTX]

Introduction to IoTeX: A Blockchain Infrastructure for the Internet of Things (IoT)

IoTeX is a specialized blockchain infrastructure that caters specifically to the needs of the Internet of Things (IoT). With its unique features such as auto-scalability and privacy-centric design, IoTeX has established itself as the fastest, most secure, and highly scalable blockchain platform available.

The Mission of IoTeX: Enabling Trust, Privacy, and Free Will in Human-Machine Interaction

IoTeX's mission is to create an ecosystem without borders, where humans and machines can interact with complete trust, privacy, and freedom. The project aims to empower users by giving them full control over their devices and data, ensuring their privacy and peace of mind. This vision is referred to as the Internet of Trusted Things.

Powered by the IoTeX platform, the Internet of Trusted Things encompasses a pioneering ecosystem of independent devices and users that prioritize data ownership, identity, and privacy. It ensures that users have complete control over their data and identity.

Key Features of IoTeX

Advancing Towards a Connected World with User Empowerment and Data Sovereignty

The primary objective of IoTeX is to build a connected world where individuals retain ownership of their data, devices, and identities. The project aims to democratize user data transactions and provide a blockchain platform that is developer-friendly, reducing the dominance of internet giants like Google and Facebook over user data.

Founded in 2017 and headquartered in Silicon Valley, IoTeX is a decentralized network that actively involves users, developers, and businesses in the management and utilization of its platform. Acting as an EVM-compatible "Layer 1" blockchain, the IoTeX platform supports a rapidly expanding ecosystem of smart devices, DApps, and digital assets. The network relies on the IOTX token to facilitate transactions and smart contracts, allowing anyone to become a stakeholder in the IoTeX Network.

The Unique Selling Points of IoTeX

IoTeX offers several distinct features that set it apart from other blockchain platforms:

• Blockchain: IoTeX supports the EVM and utilizes the Roll-DPoS consensus mechanism, enabling new block generation every 5 seconds and providing instant aggregation. The network is maintained by over 60 decentralized delegates.
• Decentralized Identity (DID): IoTeX offers an on-chain identity framework that allows users and devices to have complete ownership of their data, identity, and credentials.
• Real World Data Oracles: IoTeX converts real-world phenomena into verifiable, blockchain-ready data that can be utilized in IoTeX DApps.
• Decentralized Autonomous Machines (DAMs): IoTeX provides a framework that enables sensors, devices, and machines to automatically generate value for users through on-chain data and assets. This includes the ability to own machines in parts, real-time resource leasing, and access to machines as a service.
• Secure Hardware (TEE): IoTeX combines tamper-proof hardware with tamper-proof software (blockchain) to offer end-to-end trusted solutions. The secure hardware includes trusted execution environments (TEEs) that run parallel to the device or machine's main system, ensuring the confidentiality and integrity of all data and processes within it. TEE is virtually unhackable and isolated.