IoTeX started in 2017 as an open-source project, built completely from scratch (no forks) and is tailor fit to build the Internet of Trusted Things - an open ecosystem where all “things” — humans, machines, businesses, and DApps, can interact with trust and privacy. It is built with openness and data ownership as first principles to unleash the next generation of private smart devices. The IoTeX platform uniquely combines blockchain, secure hardware confidential computing to enable trusted data from trusted devices for use in trusted Dapps. The IoTeX team consists of 30+ top tier engineers and scientists from Uber, Google, Intel, Facebook, and other top tech companies. Currently, our platform is maintained by 60+ global Delegates including Blockfolio, CoinGecko, DraperDragon, and many others. IoTeX is a decentralized ecosystem fueled by the IOTX coin, which is native to the IoTeX Network. IOTX has multiple uses (or “utility”) with the goal of enabling trusted and transparent interactions between various entities in the IoTeX Network. Ultimately, the IOTX coin and complementary tokenomics establish economic and reputational incentives that ensure the IoTeX Network is maintained in a decentralized fashion and “Powered by IoTeX” products are effectively serviced. In the IoTeX Network, entities spend, stake, and/or burn IOTX in order to access and utilize various network resources. As the utility of IOTX grows, the demand and value of IOTX will also grow, providing continued incentives for network participants to support, maintain, and service the network.
