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What is IoTex(IOTX)| A Beginners Guide to IOTX

Cryptocurrency

Snapshot:

  • What is IoTex?
  • How does IoTex work? 
  • Key features of IoTex

What is IoTex (IOTX)? 

IoTex started as an open-source decentralized platform with an aim to empower the open economics for machines. The prime focus of IoTex is to have an open ecosystem where machines, as well as people, can interact with free will, guarantee trust and enjoy properly designed economic incentives. 

The IoTex team comprises 40 research scientists and engineers from across the globe. IoTex used the innovative Roll-DPoS consensus mechanism to build their EVM-compatible blockchain from scratch. This was launched in 2019 April and was run by 100+ delegates across the globe. The blockchain system has already processed more than 10 million transactions. The team of the IoTex blockchain has also built the essential blocks of infrastructure to connect BSC, Heco blockchains such as ioPay wallet as well as Ethereum. The best part about the IoTex blockchain network is that it helps in scaling the EVM -based DApps without huge gas fees. 

Who are the Founders of IoTex? 

IOTX crypto was launched in April 2019 and has already processed 10 million transactions so far. The founders of the IoTeX coin are Qevan Guo, Raullen Chai, Jing Sun, and Xinxin Fan.  

Raullen Chai is not just the co-founder of IoTex but is also an advisor at the BootUP ventures along with being a member of the Industrial Distributed Ledger Task group at the Industrial Internet Consortium. Another founding member of the IOTX coin, Jing Sun also works as the managing partner at Sparkland Capital. She is an angel Investor at Rippling along with being an LP investor at Polychain Capital. 

How does IoTex work? 

The Internet of things (IoT) has been changing our lives since its inception. It has profoundly changed the way the physical world behaves both in our personal lives as well in business. This technology has just not helped people work and live smarter but has also enabled easy sharing and access to data across the globe. IoTex is now connecting blockchain to IoT and smart devices in a better, secure, and faster way. 

IoTex crypto is a decentralized blockchain network allowing machines and humans to interact with guaranteed free will, trust, and privacy. It brings innovation as well as the power of blockchain to NFTs, secured devices, DApps, and other online transactions. The primary goal of the IoTex crypto is to ensure that people can not only own but also control the value and data which they generate. By connecting the digital world with the physical world, the network is allowing users to use various services. 

The native token of IoTex is IOTX. The current IOTX coin price is $0.124 (December 9, 2021). It has also received a fair share of appreciation and acknowledgment in various crypto magazines and websites. Investors and traders would find one IOTX coin news almost every day after the sudden surge of 150% in prices. 

Key Features of IoTeX Network

Roll -Delegated-Proof-of-stake (Roll-DPoS) consensus
Layer 2 chain 
Edge trusted computing 
Cross network interoperability 

How to buy IOTX Coin in India? 

Willing to invest in an IOTX coin? Don’t worry, you can invest in it in 3 simple steps with CoinDCX. 

Sign up to CoinDCX 

Download the CoinDCX app and sign up using a verified email address. Secure the account with a strong password such that no data breach can occur. 

Add bank details 

Once signed up, the next step is to add bank details to your account. Complete your KYC to ensure that your portfolio does not get restricted to 10,000 INR. Once the bank details have been added, you can add fiat money to your crypto wallet using various payment methods which include Mobikwik wallet enjoying ZERO transaction fees, UPI, debit card, or credit card available on the app.

Buy IOTX 

Once the KYC is complete and bank details have been verified, use the deposited money in the crypto wallet to buy IOTX. The amount of IOTX bought will be reflected in your investment section. Always ensure to check the IoTex coin price before making a purchase. The IOTX crypto price is as volatile as any other cryptocurrency and the investor must be aware of it. 

Additional Read: IOTX/USDT Technical Analysis 

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