IOTX (IoTeX) | Cryptocurrency In Singapore

IoTeX is the auto-scalable and privacy-centric blockchain infrastructure for the Internet of Things (IoT). IoTeX’s global team is comprised of Ph.Ds in Cryptography, Distributed Systems, and Machine Learning, top-tier engineers, and experienced ecosystem builders. IoTeX is developing several in-house innovations to push the frontier of blockchain 3.0, including a blockchain-in-blockchain architecture for heterogeneous computing, fast and robust Roll-DPoS consensus scheme, and lightweight privacy-preserving techniques. IoTeX is bringing autonomous device coordination to the masses by “connecting the physical world, block by block.”

The Internet of Things has rapidly evolved over the past few years, but lacks real world “killer applications”. McKinsey & Company predicts that IoT could generate up to $11.1 trillion per year in economic value by 2025. Despite the massive potential of IoT, there are roadblocks ahead, such as lack of scalability, privacy concerns, and lack of functional values. IoTeX is solving these problems by creating a flexible, privacy-centric blockchain infrastructure tailor fit for IOT, leveraging a blockchain-in-blockchain architecture with cryptoeconomic incentives. By combining token incentives with community efforts, we can crowdsource industry and community contributions to address various technical challenges related to IoT architecture, infrastructure, and implementation.

What are IoTeX’s competitive advantages?
At a high level, IoTeX's competitive advantage stems from four main innovations:

  1. Blockchain-in-blockchain architecture which ensures privacy and prevents IoT information leakage;
  2. Built-in privacy based on lightweight cryptography;
  3. Real-time consensus with instant finality, which improves the throughput of the network, reduces transactional costs, and enables efficient cross-chain communication; and
  4. Subchain-as-a-service (SAAS) to facilitate fast prototyping and production of new IoT applications and ecosystems.

IoTeX's mission is to allow developers to easily create their own robust and useful subchains for their own projects and ecosystems. Subchains are meant to be flexible, meaning they can choose to use their own tokens or the IoTeX token, can be programmed in a variety of programming languages, and can be made permissioned (private) or permissionless (public).

IOTEX FOUNDATION LTD
UEN 201728037K

IOTEX PTE LTD
UEN 201836664M

10 Winstedt Road #01-15/16 Singapore 227977

Official website
https://v1.iotex.io

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IOTX Token

The native digital cryptographically-secured token of the IoTeX Network (IOTX) is a major component of the ecosystem on the IoTeX Network, and is designed to be usedsolely on the network. Prior to the launch of IoTeX mainnet, the token will exist as an ERC20 compatible token on the Ethereum blockchain, which will be migrated to a token on the IoTeX mainnet when the same is launched.

Total supply: 10,000,000,000

Token Distribution

Private Sale: 24%
Community Reward Programs: 6%
Team: 15%
Ecosystem: 30%
Foundation: 25%

IOTX is required as virtual crypto “fuel” for using certain designed functions onthe IoTeX Network (such as executing transactions and running the distributed ap-plications on the IoTeX Network), providing the economic incentives which will beconsumed to encourage participants to contribute and maintain the ecosystem on theIoTeX Network. Computational resources are required for running various applications and executing transactions on the IoTeX Network, as well as the validation andveriļ¬cation of additional blocks /information on the blockchain, thus providers ofthese services / resources would require economic incentives for the provision of these resources (i.e. “mining” on the IoTeX Network) to maintain network integrity, and IOTX will be used as the unit of exchange to quantify and pay the costs of the con-sumed computatio n al resources. IOTX will be mineable for 50 years, with rewards ofthe mining reducing over time based on a linear gradient reduction model. IOTX is an integral and indispensable part of the IoTeX Network, because in the absence of IOTX, there would be no common unit of exchange to pay for these costs, thus rendering the ecosystem on the IoTeX Network unsustainable. IOTX is a non-refundable functional utility token which will be used as the unit of exchange between participants on the IoTeX Network. The goal of introducing IOTX is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the IoTeX Network.