IoTeX (IOTX)

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What is IoTeX (IOTX)?

IoTeX is an open-source platform that aims to integrate the economics of machines and people into one ecosystem. The IoTeX platform guarantees trust between human operators and machines ranging from smart home speakers to self-driving autonomous vehicles. Created in 2017, IoTeX built their EVM-compatible blockchain from scratch, and has reportedly processed 10 million transactions already.

Is IoTeX (IOTX) a promising cryptocurrency?

IoTeX has built a blockchain that promises fast, efficient, and seamless connectivity between people and machines in a decentralized environment. It also provides flexibility and scalability for various decentralized applications. The dApps built on IoTeX are mostly to bring self-learning and real-world smart technology to reality.

How to use IoTeX (IOTX) coins?

• IOTX coins are predominantly used for governance purposes in the ecosystem.
• These coins are built following a unique design that makes them deflationary in the long term while the number of devices hosted on IoTeX increases.

Primary Features of the IoTeX (IOTX) cryptocurrency

• IOTX can also be used as gas fees on the protocol.
• Can also be staked for regular rewards.
• It is an ERC-20 token.

Pros and Cons of buying IoTeX (IOTX)

Pros:

• It is an emerging technology that solves a tangible problem.
• Addresses emerging need for regulation and management of IoT devices.
• Managed by a credible team that’s already working with smart contracts, a wallet, and a blockchain explorer.

Cons:

• Stiff competition from projects like VeChain and IOTA.

Trade IoTeX (IOTX) coin on CoinSwitch

• You can start trading on the app with only Rs 100.
• Enables immediate cancellation and deposit to bank accounts immediately.
• Trade at null fees on this safest Bitcoin exchange.
• Intuitive and easy user interface.
• Offers easy monitoring to beginners.

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.