IoTeX Logo
IoTeX IOTX

Rank #144

$ 0.05245400 -2.56%

IoTeX Price (IOTX)

IoTeX to USD Price Chart

IoTeX Statistics

Market Rank #144
Market Cap $ 495.2M
Volume 24h $ 28.3M
Circ. Supply 9.4B
Total Supply 9.5B
Max Supply 9.5B

Has the price of IoTeX (IOTX) increased today?

As of today, IoTeX (IOTX) has decreased and is currently trading at $ 0.05245400. As always, prices in the cryptocurrency market are highly volatile and can change rapidly.

What Is IoTeX (IOTX)?

IoTeX is an auto-scalable, privacy-centric blockchain infrastructure that caters to the Internet of Things (IoT). The IoTeX global team comprises individuals with PhDs in Cryptography, Distributed Systems, and Machine Learning, as well as top-tier engineers and experienced ecosystem builders. IoTeX is developing its in-house innovations to further the reach of blockchain 3.0, including a blockchains-in-blockchain architecture for heterogeneous computing and a lightning-fast Roll-DPoS consensus mechanism.

In addition, the organization is focused on incorporating lightweight privacy-preserving techniques. One of its primary missions is to usher in autonomous device coordination by "connecting the physical world, block by block."

Who Are the Creators of IoTeX (IOTX)?

Although specific founders aren't mentioned in the basic information provided about IoTeX, it is noted that the project is executed by a robust team of individuals skilled in cryptography, distributed systems, machine learning, engineering, and ecosystem development. Together, the team works towards the innovative goal of fusing blockchain technology with IoT.

How Does IoTeX (IOTX) Work?

As an auto-scalable, privacy-centric blockchain, IoTeX seeks to create an efficient and secure foundation for the Internet of Things. The blockchain revolves around a unique architecture which boasts a versatile design: blockchains-in-blockchain.

This systems architecture enables various blockchains to run concurrently within the IoTeX network while maintaining operational independence. In addition, the project's speedy Roll-DPoS consensus mechanism ensures high throughput and quick transaction validation.

IoTeX also prioritizes privacy, using innovative techniques aimed at preserving user privacy without compromising on IoT functionalities and performance.

What Makes IoTeX Unique?

IoTeX differentiates itself through its strategic focus on the IoT sector, coupled with an innovative take on blockchain infrastructure design. The innovative blockchains-in-blockchain architecture caters specifically to heterogeneous computing, allowing multiple blockchains to function within a singular ecosystem simultaneously.

Similarly, the Roll-DPoS consensus mechanism promises high throughput and performance. Also, IoTeX's commitment to privacy preservation, especially in the typically vulnerable IoT sector, represents a significant selling point for this blockchain.

What is Roll-DPoS Consensus Mechanism?

The Roll-DPoS consensus mechanism is a key characteristic of the IoTeX blockchain. This is a variant of the Delegated Proof-of-Stake (DPoS) system but has been optimized to deliver enhanced speed and performance.

Roll-DPoS achieves this through a randomized, scalable approach which sees a rotating group of delegate nodes chosen for network verification tasks, reducing the load and increasing the overall speed of the validation process. This mechanism is built with the objective of ensuring that IoTeX can handle the high-transaction demands of the IoT sector.

How Much IoTeX (IOTX) Is in Circulation?

The current circulating supply of IoTeX (IOTX) stands at 9.4B. Information on the total possible supply has not been provided at this time.

How is the IoTeX Network Secured?

Security on the IoTeX network is achieved through the state-of-the-art Roll-DPoS consensus mechanism. It ensures complete decentralization and prevents the risk of single-point failures and attacks. Moreover, IoTeX has also invested in privacy-preserving technologies to ensure data security, an area of critical concern in the IoT industry.

How Can You Purchase IoTeX (IOTX)?

To purchase IoTeX (IOTX), you can visit any of the cryptocurrency exchanges where it is currently listed. Please keep in mind, investing in cryptocurrencies always involves certain risks given their volatile nature.

How to Keep Your IoTeX (IOTX) Safe?

To ensure the safety of your IoTeX (IOTX) holdings, consider secure storage options such as hardware wallets or secure digital wallets. Always remember to protect your private keys and avoid sharing sensitive information online to prevent unwarranted access to your assets. Last but not least, common sense and extreme caution are your best friends when participating in any kind of cryptocurrency transactions.

Crypto Pro - Crypto Tracker

Try our Crypto Pro app

Live Prices, Widgets, Alerts, Portfolio, Apple Watch app