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A Decentralized Network for Internet of Things

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Smart contract blockchain

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Team:

Raullen Chai - Co-founder

Qevan Guo - Co-founder

Jing Sun - Co-founder

Xinxin Fan - Head of Cryptography

Dustin Xie - Blockchain Engineer

Zhijie Shen - Staff Blockchain Engineer

Paddy Kan - Distributed Systems

Zhefeng Li - Blockchain Engineer

Despite its rapid evolution, IoT is still far from reaching mass adoption and lacks “killer applications” that would draw new users to the ecosystem due to issues such as low scalability, high operating cost, privacy concerns and lack of functional values.

Expert Review

TokenTops
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4.4 out of 5

IoTeX, found online at IoTeX.io, aims to connect the physical world block by block. It is a decentralized network for the internet of things founded with the goal of encouraging mass adoption in the cryptocurrency industry. The company believes the IoT industry lacks a “killer app” that would encourage the average person to adopt IoT technology into their lives. Until that killer app is released, users have little incentive to spend money, time, or effort implementing IoT. The network is powered by a privacy-centric blockchain. IoTeX doesn’t see itself as the killer app; instead, IoTeX sees itself as the development platform for that killer app. IoTeX wants to encourage innovation in the IoT space. One of the problems with today’s IoT industry is that it lacks “killer apps” that would draw new users to the ecosystem. Users don’t really have a good reason to implement IoT into their lives – especially since the industry has other issues like low scalability, high operating costs, privacy concerns, and a lack of functional values. It aims to solve all of these problems using blockchain technology and cryptocurrency tokens. It aims to encourage innovation in the IoT space. They want to encourage innovation by focusing on two core functions, Crypto incentives, and Community effort and create a next-generation IoT-oriented, blockchain platform with strong scalability, privacy, “isolatability”, and “developability” for incubating new IoT applications and ecosystems. IoTeX was co-founded by Raullen Chai, Qevan Guo, and Jing Sun all of them have great experience and knowledge.

User Review

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ICO Review03 july 2018, 10:14

IoTeX aims to create an IoT ecosystem that allows IoT devices – like smart devices – to interact with each other over consistent governing rules. The platform “connects the physical world block by block” with a digital currency called IOTX, which allows for seamless transactions over the IoTeX network.

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