IoTeX Logo

IoTeX IOTX

IoTeX header image

1. Summary

Fundamental Rank
Developer Rank
Social Rank
Coinrank
Price
$0.06 -12.5%
Market Cap
$556.54M (#161)
Supply
9.49B / 9.50B
Price
52W High price $0.11
52W High date 13th Aug 2021 (3 months ago)
Supply & Trading Volume
Volume (24h) 72.48M
Total Supply 9.50B
Max Supply 9.50B
Circulating Supply 9.49B
Description

IoTeX actually started life as an open-source project and has managed to build a decentralized platform that aims to empower open economics when it comes to machinery. This is an open ecosystem where people and machines can interact with trust, free will, and economic incentives.

IoTeX actually started life as an open-source project and has managed to build a decentralized platform that aims to empower open economics when it comes to machinery. This is an open ecosystem where people and machines can interact with trust, free will, and economic incentives.

You can think of it as a scalable solution that powers the Internet of Things (IoT). It is designed to connect the physical world of internet devices block by block and can be quick and callable due to the unique Roll-DPoS consensus mechanism that it implements.

The IOTX Token Explained

Discussing the IOTX token, it began life as an ERC-20 token which was swapped to a native token.

In order to take part in the governance of the blockchain, each of the voters needs to stake IOTX tokens to receive voting rights. It is also used for gas fees, can be staked for services, and for device registration through burning it.

Features of IoTeX

When a blockchain needs to handle IoT devices, there are a lot of features it needs to implement due to the fact that different applications have different requirements. This makes it inefficient to put IoT nodes across a single blockchain. IoTeX works through the idea of sidechains, that are created for each required function, and these sidechains interact with one another then they are required to do so. Think of it as a blockchain, within a blockchain.

Alongside this, it also has several mechanisms implemented within it that ensure a high level of privacy for its users and the transactions. This is done through the use of ring signatures, where it also adds relayable payment code that hides the addresses of the transaction receiver.

The IoTeX protocol communicates across blockchains quickly, efficiently, and most importantly of all, in an inexpensive way. Furthermore, the developers have included block finality within the solution that guarantees that any new block created cannot really be changed. It also includes what is known as pegging which is a method through which sidechains are used to scale the Bitcoin network.

When it comes to the aforementioned Roll-DPoS consensus, you’ll first need to understand Delegated Proof-of-Stake. It works through having stakeholders vote for the block procedures within a network. This is a set number of block producers, and once they are elected, they are responsible for the addition of new blocks within the blockchain and receive rewards for doing so. This is a flawed system due to the fact that the set static number of block producers means that the network can never truly achieve decentralization, and it cannot handle complex blockchain architectures or multiple large-scale applications that run at the same time.

The Randomized Delegated Proof of Stake (Roll-DPoS) algorithm solves this by combining DPoS with Verifiable Random Functions (VRF) and Practical Byzantine Fault Tolerance (PBFT), where it can achieve a large scale and a high level of decentralization.

Founders of IoTeX (IOTX)

Discussing the founders of IoTeX, you have Jing Sun, Raullen Chai, Qevan Guo, and Xinxin Fan.

  • Jing Sun is also a managing partner at Sparkland Capital.
  • Raullen Chai , alongside working here, is also an advisor at BootUP
    ventures.
  • Qevan Guo is also a co-founder of Hyperconnect.
  • Xinxin Fan, prior to working here, filled the role of a research
    engineer at Bosch Research and Technology Center.
2. Price

$IOTX / USD

2.1. Market Performance

How does IoTeX's (IOTX) performance compare to assets of a similar market capitalization?

30 Day Return

-1.7%

IOTX

-5.1%

Similar Market Cap

60 Day Return

-26.7%

IOTX

-0.3%

Similar Market Cap

1 Year Return

781.4%

IOTX

551.3%

Similar Market Cap

3. Developer Activity

We're monitoring 100 IoTeX Github repos for commits, code additions and deletions. This data is factored into the Developer Rank. Because of delays in Github's stat processing, recent activity maybe underrepresented.

Weekly Commits (All IoTeX Repos)

Commits vs. The Market

  • Past 4 weeks: 189 commits vs. an average of 31
  • Past 12 weeks: 349 commits vs. an average of 124
  • Past year: 2,367 commits vs. an average of 863

Most Active Repos

Past week 0
Past 12 weeks 22
Past year 952
Past week 8
Past 12 weeks 93
Past year 536
Past week 1
Past 12 weeks 58
Past year 459
Past week 14
Past 12 weeks 65
Past year 232
Past week 9
Past 12 weeks 30
Past year 198
Past week 15
Past 12 weeks 35
Past year 192
4. Social Activity
Reddit Subscribers 15,365
Active Reddit Users (past 24h) 85
Telegram Users 18,169
Twitter followers 147,893
5. News
6. More Information

Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:

Website https://iotex.io
Explorer https://iotexscan.io/
Twitter @iotex_io
reddit /r/IoTeX
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