IoTeX

IoTeX stands out as the only versatile infrastructure within the DePIN sector that delivers an all-inclusive toolkit for crafting completely decentralized, composable, and interoperable DePIN projects. Moving away from the conventional monolithic model, IoTeX offers a dynamic selection of in-house DePIN Infrastructure Modules (DIMs) and public resources, complemented by modules from external contributors like Filecoin, Risc0, NearDA, and Espresso, among others. One of IoTeX's unique features is its innovative handling of the native token, $IOTX, which underpins and interconnects the entire platform. The token's utility is enhanced while its supply remains stable through a thoughtful mix of burning, inflationary, and deflationary strategies.

By cutting down on development time, upfront expenses, and necessary resources for project launches, IoTeX is setting off on a novel path with the aim of integrating 100 million devices. The goal is to unlock trillions of dollars in on-chain real-world value over the next 3-5 years, aligning with IoTeX's vision of "DePIN for Everyone."

IoTeX functions on a modular framework intended to offer a strong and adaptable base for DePIN initiatives. Central to this is the Modular Security Pool (MSP), a cohesive, trust-based layer backed by $IOTX and other key assets within the field. This setup ensures a secure platform for DePIN Infrastructure Modules (DIMs), which are integral to the DePIN tech infrastructure. While IoTeX provides essential DIMs like W3bstream for off-chain processing and ioID for digital identification, other modules are developed by partners. This partnership allows IoTeX to offer AI tools and various decentralized storage solutions, creating a comprehensive toolkit for DePIN creators.

To boost community involvement, IoTeX offers public utilities such as DePINscan, a sector-wide explorer currently linking 2.4 million devices and showcasing over 40 verified DePIN projects globally. This multi-layered strategy, when combined with the high throughput of IoTeX L1 and its compatibility with EVM, forms a reliable and scalable framework, empowering developers to create cutting-edge DePIN applications.

IoTeX empowers decentralized applications (Dapps) to effortlessly connect to real-world elements, enabling users to profit from their smart devices' data, resources, and services in a transparent way. Developers can assign on-chain identities to devices using ioID, convert real-world data into "Proofs of Real World Work" via W3bstream, and record these proofs on the IoTeX blockchain. This process activates smart contracts that compensate device owners with tokens. IoTeX's applications fall into three main areas: data, resources, and services. Smart devices can offer provable real-world data to community-led pools, trade or lease digital resources like computing power and storage, and provide services such as connectivity, location tracking, and renewable energy. With more than 100 billion active smart devices, IoTeX's applications are relevant in numerous fields, including agriculture, automotive, manufacturing, supply chain, smart homes, cities, renewable energy, healthcare, transportation, and telecommunications.

IoTeX began as an open-source project in 2017, founded by Raullen Chai, Qevan Guo, Xinxin Fan, and Jing Sun. The team, consisting of more than 40 research scientists and engineers, developed an EVM-compatible blockchain from the ground up, utilizing the pioneering Roll-DPoS consensus. The platform launched in April 2019 and has since been overseen by more than 100 delegates across the globe. It has handled over 10 million transactions and created infrastructure to enable interoperability with other blockchains. In July 2024, IoTeX unveiled the IoTeX 2.0 whitepaper, drawing on years of innovation to make DePIN available to all. This progression transforms IoTeX from a straightforward Layer 1 blockchain into an open DePIN infrastructure anchored by the $IOTX token, with the IoTeX L1 chain serving as the trust anchor for the entire ecosystem.