IoTeX Price

IoTeX (IOTX) is a utility token powering the IoTeX platform, which connects Internet of Things (IoT) devices with decentralized applications. Currently ranked #496, IOTX trades at $0.004429 with a -1.99% change in the last 24 hours. IOTX serves multiple functions within the IoTeX ecosystem: it powers network transactions, enables smart contract execution, and allows users to become stakeholders in the network. The token supports IoTeX's mission to build a decentralized network for IoT devices, focusing on privacy, security, and scalability. With a market cap of $41.81M and a circulating supply of 9.44B IOTX, IOTX has established itself in the DePIN (Decentralized Physical Infrastructure Networks) sector. The token operates across multiple blockchains including Ethereum, Polygon, and Base ecosystems, enhancing its accessibility and utility.

IoTeX was created on May 23, 2018. The project launched its cryptocurrency as part of its blockchain platform focused on Internet of Things (IoT) devices. Since its inception, IoTeX has grown to become a significant player in the IoT blockchain space, currently ranking #496 in the cryptocurrency market with a market capitalization of $41.81M. The token has a maximum supply of 10B IOTX coins, with 9.44B IOTX currently in circulation.

IoTeX was founded by four individuals: Qevan Guo, Raullen Chai, Jing Sun, and Xinxin Fan. These founders launched the project in 2018 with a vision to connect the physical world of Internet of Things (IoT) devices with blockchain technology. Raullen Chai serves as the CEO and brings experience from his previous roles at Google and Uber. The founding team combines expertise in cryptography, distributed systems, and machine learning to build the IoTeX ecosystem, which aims to enable trusted data exchange between IoT devices and applications through its blockchain platform.

IoTeX (IOTX) works as the native cryptocurrency of the IoTeX blockchain platform, which connects IoT devices in a decentralized network. The token serves multiple functions: 1. Transaction fees: Users pay IOTX for operations on the network 2. Staking: Token holders can stake IOTX to participate in network security 3. Governance: IOTX holders vote on protocol decisions through a Roll-DPoS consensus mechanism 4. Device registration: IoT devices use IOTX to register on the network With a current price of $0.004429 and market cap of $41.81M, IOTX has a maximum supply of 10B IOTX tokens. The platform enables secure machine-to-machine interactions, data monetization, and decentralized applications focused on IoT use cases. IOTX is cross-chain compatible, available on Ethereum, Polygon, BSC, and Base networks.

IoTeX operates on a layered blockchain architecture powered by Roll-DPoS (Delegated Proof of Stake) consensus mechanism. The technical framework includes: 1. Core Blockchain Layer: Handles transaction validation, smart contracts, and maintains the distributed ledger with high throughput and low latency. 2. IoT-Optimized Protocol: Features lightweight cryptography specifically designed for resource-constrained IoT devices. 3. Cross-Chain Communication: Utilizes a cross-network communication protocol enabling interoperability with Ethereum, Polygon, BNB Chain, and Base networks. 4. Privacy Layer: Implements advanced privacy-preserving technologies to secure device data while enabling trusted computation. 5. MachineFi Framework: Supports device registration, decentralized identity, and tokenization of machine-generated data. The architecture is designed to connect physical devices to the blockchain world, creating a decentralized network where machines can autonomously interact, transact, and create value in a secure, scalable environment with IOTX as its native utility token.

IoTeX has a promising future with a clear roadmap focused on Web3 and IoT integration. The project aims to expand its DePIN (Decentralized Physical Infrastructure Networks) ecosystem through 2026-2027, connecting more real-world devices to blockchain. Key upcoming developments include: 1. MachineFi 2.0 - Enhancing the connection between physical devices and DeFi applications 2. W3bstream expansion - Improving their decentralized computing platform 3. Cross-chain interoperability enhancements with Ethereum, Polygon, and Base ecosystems The team is targeting increased enterprise adoption and expanding their developer ecosystem. With a maximum supply of 10B IOTX and current market cap of $41.81M, IOTX is positioned to grow as IoT adoption increases. Analysts project IOTX could reach approximately $0.032 by late 2026 and potentially $0.125 by 2031 as their roadmap execution progresses.