What Is IoTeX (IOTX)?
IoTeX is a decentralized platform designed to bridge the Internet of Things (IoT) with blockchain technology. Its native cryptocurrency, IOTX, is an Ethereum token that powers a network aiming to connect smart devices—like cameras and sensors—to decentralized applications (DApps). The token is used for transaction fees, staking, governance voting, and registering new devices on the IoTeX network.
Launched as an open-source project in 2017, IoTeX has built an EVM-compatible blockchain using a Roll-DPoS (Roll-Delegated Proof of Stake) consensus mechanism. This ensures flexibility, scalability, and energy efficiency. Managed by a global community of delegates, the network supports interoperability with other blockchains and aims to create a trusted ecosystem for machine-to-machine and human-to-machine interactions.
IoTeX (IOTX) Live Price and Market Performance
Staying updated with real-time price data is essential for understanding market trends. IoTeX’s price fluctuates based on market demand, adoption rates, and broader cryptocurrency movements.
Current IOTX Market Data
- Current Price: S$0.0287
- 24-Hour Change: -1%
- 7-Day Change: -3%
- All-Time High: S$0.63 (November 4, 2021)
- Market Capitalization: S$253.96M
- Circulating Supply: 9,441,368,979 IOTX (94% of max supply)
- Max Supply: 10,000,000,000 IOTX
- 24-Hour Trading Volume: S$7.04M
Price History Overview
| Time Frame | Price (SGD) | Change |
|---|---|---|
| Today | S$0.0287 | -0.94% |
| 1 Day | S$0.0289 | -0.94% |
| 1 Week | S$0.0298 | -3.26% |
| 1 Month | S$0.0340 | -14.59% |
| 1 Year | S$0.0545 | -44.06% |
Market capitalization is calculated by multiplying the current price by the circulating supply. A high market cap generally indicates that the asset is widely valued. IoTeX currently ranks among the top cryptocurrencies by market cap, alongside projects like Qtum, Ravencoin, and Zilliqa.
Technology and Unique Features of IoTeX
IoTeX isn’t just a cryptocurrency—it’s a full-stack platform with a clear vision for a decentralized machine economy.
Consensus and Blockchain Architecture
IoTeX uses Roll-DPoS, a consensus mechanism managed by over 100 global delegates. These delegates validate transactions and secure the network, ensuring efficiency and low transaction costs. Its Ethereum Virtual Machine (EVM) compatibility allows developers to port existing DApps from Ethereum easily, benefiting from IoTeX’s scalability and reduced gas fees.
Tokenomics and the Burndrop Model
IOTX serves multiple purposes:
- Paying for network transactions (gas)
- Staking and earning rewards
- Participating in on-chain governance
- Registering new IoT devices
The unique Burndrop tokenomics model adjusts token supply based on the number of connected devices, creating a deflationary mechanism as network usage grows.
Real-World Applications and Devices
IoTeX focuses on tangible use cases. It supports hardware like:
- Ucam: A privacy-focused home security camera that gives users full control over their data.
- Pebble Tracker: A device that collects real-world environmental and supply chain data, functioning as a decentralized oracle.
These devices enable applications in areas such as real-world NFTs, environmental tracking, decentralized machine learning, and more.
How to Store IoTeX Tokens
IOTX tokens are supported on multiple blockchain networks. Below are the official contract addresses for different networks:
| Network | Contract Address |
|---|---|
| Ethereum | 0x6fB3e0A217407EFFf7Ca062D46c26E5d60a14d69 |
| BNB Smart Chain | 0x9678E42ceBEb63F23197D726B29b1CB20d0064E5 |
| Polygon | 0xf6372cDb9c1d3674E83842e3800F2A62aC9F3C66 |
| Base | 0xBCBAf311ceC4a4EAC0430193A528d9FF27ae38C1 |
Always verify addresses through official IoTeX channels before making transactions.
👉 Explore more strategies for secure crypto storage
Frequently Asked Questions
What is the main goal of the IoTeX project?
IoTeX aims to become the foundational layer for the machine economy. It enables secure and private interactions between IoT devices—such as smart home products and industrial sensors—and blockchain-based applications. The goal is to allow these devices to operate autonomously within a trusted economic framework.
How does IoTeX ensure network security and scalability?
The platform uses Roll-DPoS consensus, where delegates elected by token holders validate transactions. This method is energy-efficient and supports high throughput. EVM compatibility and cross-chain interoperability further enhance its scalability, allowing developers to build DApps without high gas fees.
Can I stake IOTX tokens, and what are the benefits?
Yes, IOTX holders can stake their tokens to participate in network governance and earn staking rewards. Staking helps secure the network and allows contributors to share in the network’s growth while influencing key decisions.
What real-world products use IoTeX technology?
IoTeX powers devices like Ucam, a home security camera with user-controlled data, and Pebble Tracker, which collects real-time environmental data for supply chain and DeFi applications. These devices demonstrate how IoTeX connects physical hardware to blockchain ecosystems.
What is the total supply of IOTX tokens?
The maximum supply is capped at 10 billion IOTX. The current circulating supply is approximately 9.44 billion tokens. The Burndrop mechanism gradually reduces available supply as more devices connect to the network.
How can developers build on IoTeX?
Developers can use IoTeX’s EVM-compatible chain to deploy smart contracts and DApps with low fees and high scalability. The network offers tools for decentralized identity, confidential computing, and secure hardware integration.
Final Thoughts
IoTeX stands out as a project with a clear vision and practical applications in the rapidly growing IoT sector. Its technology supports a wide range of use cases, from smart home devices to enterprise supply chain solutions. While market conditions influence its token price, the underlying platform continues to develop through active governance, staking mechanisms, and real-world product integration.
As with any cryptocurrency, it’s important to conduct thorough research, understand market trends, and use secure storage practices. IoTeX represents an innovative fusion of blockchain and IoT, with the potential to play a significant role in the future of decentralized technology.