What Is IoTeX

Definition of IoTeX

IoTeX is a blockchain platform designed to connect Internet of Things (IoT) devices with decentralized applications, using its native token IOTX for transactions and governance. IoTeX launched in 2017 as an open-source project focused on bridging the physical and digital worlds. Founded by a team including Raullen Chai, Qevan Guo, and Jing Sun, who bring expertise from companies like Google and Facebook. The core concept revolves around creating a modular infrastructure for Decentralized Physical Infrastructure Networks (DePIN). This allows developers to build scalable IoT ecosystems. The platform emphasizes privacy, scalability, and real-world utility. Its ecosystem includes tools like DePIN Infrastructure Modules (DIMs) and integrations with third-party providers, aiming to onboard millions of devices and unlock economic value on-chain.

How Does IoTeX Work

Blockchain and Consensus Mechanism

IoTeX operates on a layer-1 blockchain using Roll-DPoS (Delegated Proof of Stake) consensus. This combines staking with random delegation to ensure efficiency and security.

Smart Contracts and Technical Principles

It supports smart contracts via the Ethereum Virtual Machine (EVM), enabling compatibility with Ethereum tools. Private and public keys manage user identities and transactions. The network features sub-chains for specific IoT applications, enhancing scalability. Devices connect through middleware, allowing secure data sharing. Transactions are validated by delegates, with IOTX used for fees and staking.

How Is New IoTeX Created

Issuance and Mining Mechanisms

New IOTX isn't mined like Bitcoin; it's issued through staking rewards in the DPoS system.

Supply and Reward Model

The total supply is capped at 10,000,000,000 IOTX, with a circulating supply of about 9.44 billion as of 2025. Inflation is managed via staking rewards, balanced by burning mechanisms. Users stake IOTX to vote for delegates, earning rewards. The model includes deflationary burns from transaction fees, maintaining stability. This encourages participation while controlling supply growth.

The Use Cases of IoTeX

Payments and Value Storage

IOTX serves as a medium for micro-payments in IoT ecosystems, like device-to-device transactions.

DeFi and Smart Contracts

It supports DeFi apps for lending and yield farming, using smart contracts for automated agreements.

Other Applications

IoTeX powers NFTs for digital collectibles and governance voting. It's ideal for cross-border data transfers in supply chains. Real-world uses include smart cities and DePIN projects, where devices earn rewards for sharing data securely.

Buy, Send, or Store IoTeX

Purchasing Channels

Buy IOTX on exchanges like WEEX Exchange or through OTC platforms. WEEX offers a trusted spot for trading cryptocurrencies.

Wallet Types and Security

Use hot wallets like mobile apps for quick access, or cold wallets like hardware devices for better security. Always enable two-factor authentication.

Operational Processes

To send, enter the recipient's address and confirm. For storage, back up your private keys. Register on WEEX Exchange to earn a free 20 USDT bonus, making it easy to start trading IOTX. https://www.weex.com/how-to-buy

Pros & Cons / Risks

Advantages

- High scalability for IoT applications. - Strong focus on privacy and security. - Modular design reduces development costs. - Balanced tokenomics with burning mechanisms.

Risks

- Price volatility common in crypto markets. - Regulatory uncertainties for IoT blockchains. - Technical risks like network congestion. - Competition from other IoT platforms.

Comparison

IoTeX vs. Alternatives

Unlike Bitcoin's focus on value storage with PoW, IoTeX uses DPoS for faster IoT transactions. Compared to Ethereum, it offers better scalability for device networks without high gas fees, positioning it as a specialized DePIN leader rather than a general-purpose chain.

Conclusion / Next Steps

IoTeX holds potential to revolutionize IoT with its DePIN focus, targeting 100 million devices in the coming years. Future growth depends on partnerships and adoption. Check the whitepaper or roadmap for details. Join the community to stay updated. Consider exploring WEEX Exchange for trading—sign up to learn more.

Market & Ecosystem

Market Cap & Trading Volume

As of 2025-09-05, IoTeX has a market cap of $256,987,448 USD and 24-hour trading volume of $5,516,910 USD.

Exchanges Where It’s Listed

Available on platforms like WEEX Exchange, supporting easy trades.

Community Size & Activity

Active on Twitter, Reddit, and Telegram with thousands of followers discussing updates and DePIN projects.

Ecosystem Growth

Growing through partnerships like Filecoin integrations and high developer activity in modular tools.