IoTeX is currently trading at $0.0251, after a price change of 0.89% in the last 24 hours.
Ranked as cryptocurrency #114 by capitalization today, IOTX market cap is valued at $236,123,517. IOTX trading volume reached $8,510,355 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on IOTX coin price prediction page.
What is IoTeX?
IoTeX is a decentralized blockchain for the Internet of Trusted Things. The network supports decentralized applications, smart devices, and services. IoTeX is secured via Roll Delegated proof-of-stake consensus algorithm. The model randomly selects 24 from the top 36 community-elected delegates who get the right to produce blocks for one epoch. The delegate selection happens each epoch. IoTeX segregates duties among multiple blockchain applications to enhance efficiency and privacy. The root blockchain manages independent function-specific subchains.
IOTX is the native token powering the IoTeX protocol. There are 9.54 billion circulating IOTX tokens from a total supply of 9,626,124,332 and a hard cap of 10 billion. IOTX can be staked, traded, or burnt by users in the platform to execute transactions. Holders can also register decentralized identities for human users and devices. The token supports the platform’s on-chain governance, enabling stakers to select delegates and participate in related protocol governance activities. IoTeX features a decentralized governance protocol called Governance Working Group and supports a crypto wallet and a decentralized exchange.
IoTEX was founded as an open-source protocol in 2017 by Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun.