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IoTex, established in 2017, is an extensible blockchain network, which will raise the landscape of the Internet of things (IoT) to a new level. As an exponential growth market, IoTex aims to become a blockchain that promotes the animal networking ecosystem.

According to the data of the research company globenewswire, the value of the Internet of things market in 2020 is US $308.97 billion. Its value is expected to grow at a compound annual growth rate (CAGR) of 25.4%, reaching about $1855billion by 2028. IOT devices can collect and transmit a large amount of data. IoTex is eager to become an underlying blockchain to promote transactions in a secure way.

IoTex’s native cryptocurrency, IOTX, has been in the bull market recently. Although its price started from US $0.06, IOTX achieved an all-time high (ATH) of more than US $0.15 in the last few days of writing this article, providing its investors with a return of more than 200%.

What is IOTX?

IOTX is a cryptocurrency that provides power for the operation of IoTex blockchain. It is an erc20 token that serves as an entry point into the IoTex market. With the IOTX token, you can connect IOT devices to the IoTex network. With the help of IOTX token, online transactions, smart contracts and decentralized applications (dapps) below US $0.1 have been promoted.

IOTX token holders can shape the future of the IOTX network by betting and voting to elect representatives to participate in the governance team of the IOTX network. Anyone who owns IOTX can deposit it to obtain voting rights, which enables users to vote and help govern the IoTex ecosystem. By voting, users can also earn 10% of their total bet.

What Makes IoTex Unique?

Although most blockchain networks are based on existing blockchains, such as Ethereum or hyperledger, IoTex’s blockchain network is built from scratch, from its Internet of things middleware to its unique roll dpos consensus.

Another thing that makes IoTex unique is that it creates a truly decentralized approach on its blockchain. Typically, today’s IOT devices and the data they collect are managed and controlled by private or public organizations. In order to obtain the services of IOT devices, users often have no choice but to let enterprises agree to use their data.

IoTex blockchain envisions a future where smart device users can control their data. IoTex provides a decentralized network for Internet of things devices. Consumers can keep their privacy in their hands while ensuring that the quality of service provided is not affected.

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