
Note: This cryptocurrency has not yet been officially listed on KuCoin Thailand.
IoTeX operates based on its innovative blockchain design, which uses the Roll-DPoS consensus. Roll-DPoS is a variation of the Delegated Proof-of-Stake (DPoS) consensus mechanism developed to improve the scalability and decentralization of blockchain networks. In the IoTeX network, stakeholders elect block producers responsible for creating new blocks on the blockchain. The selected block producers receive rewards for their work, which they can distribute to the stakeholders who voted for them.
One of the main goals of IoTeX is to promote an open machine economy. Several middleware components have been developed and implemented to achieve this, including decentralized identity, confidential computing, and secure hardware. These middleware technologies enable the operation of self-managed devices like Ucam and the real data oracle Pebble. With these technologies, developers can create innovative DApps that connect real-world applications with the crypto world.
The native cryptocurrency of IoTeX, IOTX, plays a central role in the functioning of the network. IOTX governs the underlying blockchain protocol and serves as gas for the blockchain protocol. A unique economic design called "Burndrop" leads to the deflation of IOTX as the number of devices orchestrated by IoTeX increases.
IoTeX offers several security mechanisms to protect users’ privacy and transactions, including ring signatures and trustworthy payment codes that hide the recipient's address.
The founders of IoTeX are Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun. Raullen Chai is a co-founder of IoTeX and has an impressive professional background, including positions as an advisor at BootUP Ventures and a member of the Industrial Distributed Ledger Task Group of the Industrial Internet Consortium. Before his time at IoTeX, Chai was the Head of Crypto R&D and Security Engineering at Uber.
Qevan Guo, a co-founder of IoTeX, is also a co-founder of Hyperconnect Lab. Before his time at IoTeX, Guo worked as a Facebook Research Scientist and Engineering Manager. Xinxin Fan was a Senior Research Engineer at the Bosch Research and Technology Center in North America before founding IoTeX. He was also a research associate and project leader at the University of Waterloo. In addition to her work at IoTeX, Jing Sun is a Managing Partner at Sparkland Capital. She is an LP investor at Polychain Capital and an angel investor at Rippling.
Since its inception, IoTeX has achieved several successes, including creating an EVM-compatible blockchain used by over 100 delegates worldwide and processing over 10 million transactions. The project has also developed and implemented several middleware technologies that enable the operation of self-managed devices and create innovative dApps that connect the real world with the crypto world.