Since 2017, IoTeX has been an ambitious open source project embarking on a path to create an open economy for machines. Behind this ambitious goal is a vision of a decentralized platform, an open ecosystem that enables humans and machines to collaborate with each other with guaranteed trust, free will, and carefully designed economic incentives.
IoTeX’s journey is not alone. Behind it is a global team of more than 40 research scientists and engineers who are dedicated to building an Ethereum Virtual Machine (EVM)-compatible blockchain from scratch using the innovative Roll-DPoS consensus mechanism. After unremitting efforts, this blockchain was successfully launched in April 2019, quickly attracted the participation of more than 100 representatives from around the world, and has processed more than one million transactions.
IoTeX is a modular Web3 infrastructure platform that connects smart devices and real-world data to the blockchain. With the launch of W3bstream, the world's first off-chain computing framework for smart devices and real-world data, IoTeX has become a leading Decentralized Physical Infrastructure Network (DePIN) technology provider.
Multiple hundred-fold projects will soon develop under the IoTeX ecosystem, DEPIN&$Iotx token, the future is promising.
Project Highlights
L1 blockchain platform: 107 nodes, 4 billion IOTX staked, more than 40% stake rate, more than 111 million transactions, 100% online throughout the year, the mainnet has never been down since 2019. Every year, the IoTeX network transaction volume has steadily increased by 115%, and the number of active wallets has increased by about 114%.
One of the most powerful L1 blockchains, with extremely low transaction costs (0.01 IOTX/txs), extremely fast on-chain speed (final confirmation in 5 seconds), and extremely strong interactivity (supports cross-chain multi-asset), solving the biggest pain points of decentralized infrastructure and open financial infrastructure.
The number of real-time activated devices on the IoTeX chain has reached 23,956, distributed in 72 countries around the world.
DePINSurf Accelerator Program:
IoTeX and FutureMoney Group have teamed up to create the world’s first DePINSurf accelerator program worth $5 million, providing seed funding and media support for DePIN projects. Foresight X is the exclusive partner of DePINSurf.
DePINscan: DePIN’s version of CoinMarketCap, with more powerful functions, providing users with real-time data insights. It has achieved 100,000+ unique visitors and 310,000+ page views.
W3bstream: Developed by IoTeX, W3bstream, the world’s first decentralized off-chain computing infrastructure, enables DePIN applications to connect real-world physical devices to smart contracts and integrates with multiple L1 blockchain networks including Solana, Polygon, Optimism, Arbitrum, etc. As of today, W3bstream has verified 640,000 DePIN devices in 175 countries, with a total market value of US$11.7 billion.
DePIN Liquidity Center: In less than a month, it gathered approximately $300,000 in liquidity and facilitated daily trading volume of 8 DePIN tokens reaching more than $28,500.
R3ALWORLD Global Summit: The world’s first and largest offline DePIN focused event. More than 6,000 attendees, 6 cities, and more than 60 partners.
Multi-chain wallet ioPay:
Funded by the Ethereum Foundation, the first account abstraction AA wallet based on zero-knowledge proof.
Global Cooperation:
· Partner with chip giant ARM to explore privacy-preserving collaborative data processing solutions.
Google Cloud is a strategic partner of Google Cloud.
Joined the Eclipse Foundation (EF), the world's top open source software foundation, to jointly develop a distributed open source operating system for consumer devices.
· Vice Chairman of the P2418.4 Standards Working Group of the IEEE (Institute of Electrical and Electronics Engineers) Standards Association, Co-Chair of the IIC Blockchain Group of the Global Industrial Internet Alliance, co-sponsored the IoT Blockchain White Paper with Amazon and Huawei, and led the IoT enterprise blockchain industry standards and applications.
IoTeX and six global organizations including Huawei, Bosch, Ericsson, and Lockheed Martin are jointly responsible for the IEEE Blockchain IoT Identity Standardization Working Group.
· Preferred technology partner of the US Amazon Partner Network (APN).
Latest financing:
MachineFi Lab, the core development team of IoTeX, has completed a seed round of financing of $10 million at a valuation of $100 million. This round of financing was led by Samsung NEXT, Draper Dragon Fund and Jump Capital. HashKey Capital, IOSG Ventures, Escape Velocity, Goodwater Capital, Xoogler Ventures, WeMade and other well-known companies and angel investors participated in the investment.
Ultra Luxury Advisory Board:
Including Anoop, global head of Amazon blockchain, and Robert Parker, former chief technology officer of Samsung SmartThings and former general manager of Microsoft.
Listed on exchanges:
Coinbase, Binance, Huobi, Bithumb, Bittrex, Gate, Gemini, KuCoin, Upbit, Mexc, Hotbit, Pancake Swap, SushiSwap, Uniswap, Okcoin
As of the time of writing, IOTX has a total market cap of approximately $412 million, ranking 124th by market cap. Its details are as follows:
Looking ahead to 2024, the IoTeX team is ready to take on challenges, drive innovation, and build a stronger, inclusive ecosystem. A commitment to community engagement, transparency, and impactful solutions remains core to the IoTeX vision.
Stay tuned for more exciting IoTeX project updates as we continue to build the future of Web3 together!
