IoTeX

IoTeX is a decentralized platform that aims to empower the open economics for machines. It was launched as an open-source project in 2017, with the goal of creating an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives. The IoTeX blockchain was built from scratch using the innovative Roll-DPoS consensus, and was launched in April 2019. The blockchain is EVM-compatible and has been running with over 100 delegates worldwide, processing more than 10 million transactions already. IoTeX has built essential infrastructure to connect with Ethereum, Binance Smart Chain, and Huobi ECO Chain, such as the ioPay wallet and ioTube bridge, which serve thousands of users. One of the key features of IoTeX is its middleware, which includes Decentralized Identity, Confidential Computing, and Secure Hardware. This has enabled the creation of self-sovereign devices like Ucam, which has been deployed to over 3,000 households, and real-world data oracles like Pebble, which has been launched to more than 300 developers initially. IOTX is the native token of the IoTeX network, and it is used to govern the underlying blockchain protocol and as gas for the blockchain transactions. IoTeX has implemented a unique economic mechanism called Burndrop, which creates deflationary pressure on the IOTX token as the number of devices connected to the IoTeX network increases.