IoTeX (IOTX) has emerged as a pioneering blockchain platform at the intersection of decentralized technology and the Internet of Things (IoT). With its native token currently trading at $0.02098** and a 24-hour trading volume of **$5.57 million, IoTeX continues to build momentum in the evolving Machine-to-Machine (M2M) economy. The circulating supply stands at 9.44 billion IOTX, out of a maximum cap of 10 billion, indicating a controlled and deflationary monetary model driven by real-world device adoption.
What Is IoTeX?
IoTeX is an open-source Layer-1 blockchain designed to enable secure, trustless interactions between humans and machines. Fully compatible with the Ethereum Virtual Machine (EVM), IoTeX supports smart contracts and decentralized applications (dApps) such as Cyclone and Mimo, while also powering real-world IoT devices like UCam and Pebble Tracker. At its core, IoTeX aims to create a Trusted Internet of Things (IoTT) — a decentralized ecosystem where data integrity, privacy, and ownership are preserved.
The IOTX token serves as the lifeblood of this ecosystem, enabling users to connect IoT devices to the network, participate in governance, stake for rewards, and access various decentralized services like ioPay (a multi-chain wallet) and ioTube (a cross-chain bridge).
👉 Discover how decentralized networks are reshaping the future of smart devices.
A Brief History of IoTeX
Founded in 2017 by a team of blockchain and cryptography veterans — including Jing Sun, Qevan Guo, and Raullen Chai — IoTeX was built with a vision to solve fundamental challenges in traditional IoT systems: lack of security, data privacy, and centralized control.
After launching its private sale in 2018, IoTeX raised over 25,000 ETH (approximately $20 million at the time) from around 50 accredited investors. The token generation event produced 2.4 billion IOTX tokens, representing 24% of the total supply, distributed at a rate of 96,000 IOTX per 1 ETH. All private sale tokens were fully distributed by November 2019.
Since then, the project has evolved from concept to real-world deployment, introducing innovative hardware like the Pebble Tracker in 2021 — a sovereign IoT device that gives users full control over their data. This marked a major milestone in the realization of the IoTT vision.
Innovative Tokenomics: The Burn-and-Drop Model
One of IoTeX’s most distinctive features is its burn-and-drop tokenomics model, designed to align long-term value creation with actual device usage. Out of a total 1 billion IOTX tokens allocated for this mechanism:
- 900 million (90%) will be burned as more devices join the network.
- 100 million (10%) will be distributed to long-term stakers and ecosystem contributors.
This process will conclude once 1 million "Powered by IoTeX" devices are connected to the network — turning network growth into a deflationary engine. As supply gradually decreases, demand driven by real utility could create upward pressure on the IOTX price over time.
This model not only incentivizes adoption but also ensures that token holders benefit directly from the expansion of the machine economy.
How Does IoTeX Work?
IoTeX leverages advanced blockchain architecture to bridge the physical and digital worlds. It uses smart contracts to register and manage real-world IoT devices on-chain, enabling automated, trustless interactions.
Cross-Chain Data Bridging
To enhance interoperability, IoTeX implements a cross-chain data bridge, allowing seamless data transfer across multiple blockchains. This increases the utility of IoT-generated data beyond a single network, making it valuable across DeFi, NFTs, and other Web3 applications.
Off-Chain Oracles: Truststream Protocol
A key innovation is the Truststream protocol, IoTeX’s Layer-2 oracle system. Unlike traditional blockchains that struggle with off-chain data verification, Truststream uses decentralized oracles — external sensors that securely feed real-time device data into the blockchain.
These oracles play a crucial role in validating critical information such as location, temperature, or motion from IoT devices. By ensuring data authenticity and tamper-proof transmission, Truststream strengthens trust in machine-generated data — a foundational element for scalable MachineFi applications.
roll-DPoS: Scalable Consensus
IoTeX employs a novel consensus mechanism called roll-DPoS, an optimized version of Delegated Proof-of-Stake (DPoS) enhanced with randomization techniques. This hybrid approach improves scalability while reducing centralization risks commonly seen in standard DPoS models.
Users can stake their IOTX tokens to become delegates or vote for existing ones, earning rewards while contributing to network security and decentralization.
What Is IoTeX Used For?
IoTeX empowers a new paradigm known as MachineFi — where machines become economic agents capable of generating income. Through this framework:
- Users can monetize their smart devices (e.g., cameras, trackers, sensors).
- Developers can build dApps that leverage real-time machine data.
- Enterprises gain transparent, auditable insights from connected operations.
Adding a new sensor or device to the IoTeX network takes just minutes. Today, over 9,366 smart devices are already active on the network — a number that continues to grow as adoption accelerates.
Use cases span across supply chain tracking, environmental monitoring, personal health devices, and autonomous logistics — all operating under user-controlled data sovereignty.
👉 Explore how blockchain-powered devices are creating new income streams.
Frequently Asked Questions (FAQ)
What is the current price of IOTX?
As of now, the IoTeX (IOTX) price is $0.02098, with strong stability over the past 24 hours (0.00% change). Market sentiment remains steady as the ecosystem expands its real-world integrations.
How many IOTX tokens are in circulation?
There are currently 9.44 billion IOTX in circulation, with a maximum supply capped at 10 billion. The difference is reserved for future burns and ecosystem incentives under the burn-and-drop model.
Can I stake IOTX tokens?
Yes, you can stake IOTX through platforms like ioPay Wallet or compatible staking providers. Staking allows you to earn rewards, participate in governance, and support network security via the roll-DPoS consensus.
What makes IoTeX different from other IoT blockchains?
IoTeX stands out due to its EVM compatibility, real-world device integration, burn-and-drop economics, and the Truststream oracle system. Its focus on user-owned data and monetization through MachineFi creates unique utility beyond speculative value.
Is IoTeX environmentally friendly?
Yes. Thanks to its energy-efficient roll-DPoS consensus mechanism, IoTeX consumes minimal energy compared to proof-of-work blockchains. This makes it a sustainable choice for large-scale IoT deployments.
Where can I buy IOTX?
IOTX is listed on several major cryptocurrency exchanges. You can purchase it using fiat or crypto pairs depending on platform availability.
👉 Learn how to securely acquire and manage next-generation utility tokens.
Final Thoughts
IoTeX represents a bold step toward a decentralized machine economy where users own their data and profit from their devices. With robust infrastructure, innovative tokenomics, and growing real-world adoption, IOTX is positioned as more than just another cryptocurrency — it's a foundational layer for the future of connected intelligence.
As industries increasingly rely on IoT data, platforms like IoTeX that prioritize privacy, transparency, and user empowerment will likely play a central role in shaping Web3’s next chapter.
Whether you're an investor tracking the IOTX price, a developer building MachineFi dApps, or a user connecting smart devices, now is an exciting time to engage with this forward-thinking ecosystem.
Core Keywords: IoTeX price, IOTX, IoT blockchain, MachineFi, burn-and-drop tokenomics, EVM-compatible blockchain, IoT devices, decentralized oracle