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The IoTeX project aims to create a decentralized platform that combines the capabilities of "Internet Things" (IoT) on multiple levels. The network is based on blockchain and focuses on creating a secure and confidential environment.
Despite its rapid evolution, IoT is still far from mass adoption and has no significant projects to attract new users to this ecosystem.
targets
The development of this area is hampered by problems such as low scalability, high operating costs, privacy issues and lack of functional values.
IoTeX solves these problems by introducing a digital token ecosystem into the IoT ecosystem because enthusiasts firmly believe that digital currencies and community efforts are two critical forces to foster innovation in the field of IoT.
In short, IoTeX is an IoT-oriented technology platform with reliable scalability, confidentiality, isolation and the ability to incubate and develop new profile applications and ecosystems.
Development team
Below is a summary of the IoTeX development team.
Raullen Chey: co-founder, research doctor and researcher in the field of cryptography of UWaterloo, head of cryptography of Uber, a Google security engineer, has more than eight years of experience in working with cryptography and blockchain projects.
Qevan Gvo: co-founder, Ph.D. at the National University of Singapore, IT engineer and researcher of Facebook, investor and consultant, author of over 20 scientific publications and patents.
Jing Sun: co-founder, founding partner of Sparkland Capital, specialized in Frontier Tech, he leads more than 40 investment projects and innovations in blockchain, security and IoT, has extensive experience in launching start-ups.
Xinxin fan: Head of Cryptography, PhD in Cryptography at UWaterloo, a senior researcher at Bosch Research, has 14 years of experience in information security and cryptography, author of over 40 publications and patents.
Dustin Xie: blockchain engineer, data security researcher at USC, a software engineer at Intel, 12 years experience in distributed systems, content protection, hardware video acceleration, network video streaming, a passionate cryptographer and a blockchain supporter.
Official website: iotex.io.
IoTeX technologies and applications
According to the company whitepaper, IoTeX is a hybrid of several blockchain options, linked in a single format: the most subchain root chain.
Consider the differences between primary and secondary chains.
The list of characteristics of two block chains includes the following parameters:
- Root: advertising; scalability (on request); very high level of protection; confidentiality (on request); instant block creation speed.
- Underwriting: advertising / privacy; scalability (depends on the specific project); high level of protection; confidentiality (may vary in different projects); instant block creation speed.
When combining both chains, four options are available for their use. IoTeX has the potential to be applied in the following areas: unmanned vehicles; personal identification; data exchange systems; and management of an "intelligent" home.
Many experts believe that unmanned vehicles and smart homes will be the main driver for the development of blockchain technology in the near future. In Singapore, these two areas are already considered the most promising for rapid growth because they have a high potential for influence on the average man in the street.
Price and liquidity
At the time of writing, the price of the IOTX token was valued at $ 0.0074246856 (+ 2.75%), which equates to 0.0000800996 ETH and 0.00000209 BTC. The 24-hour volume of the currency is $ 386,000 with a total limit of $ 11.3 million.
Returns from ICO are highlighted below:
- USD: 1.05 times
- ETH: 6.37x
- BTC: 2.65x
We see that the token still maintains its price compared to the USD. It trades on various exchanges, including Binance.
From an aspect of fundamental news, the launch of the project's mainnet is scheduled for this month.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.
