Explained: What Is IoTeX (IOTX)?
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Introduction
Founded in 2017, IoTex is a scalable blockchain network that takes the internet of things (IoT) landscape to a new level. An exponentially increasing market, IoTeX aims to become the blockchain powering the IoT ecosystem.
According to research firm GlobeNewswire, the IoT market was valued at $308.97 billion in 2020. Its value is expected to increase at a compound annual growth rate (CAGR) of 25.4% to reach approximately $1,855 billion by 2028. IoT devices are able to gather and transfer large amounts of data, and IoTeX aspires to become the underlying blockchain to facilitate transactions in a secure manner.
IoTeX’s native cryptocurrency, IOTX, has been on a bullish run lately. Although its price started at $0.06, IOTX achieved an all-time high (ATH) of over $0.15 in the last few days of this writing, providing over 200% in returns to its investors.