What is Iotex (IOTX)?
IoTeX is an EVM-compatible L1 blockchain that provides secured interactions between humans and machines. It is an open source and smart contracts compatible network. By creating a fast and scalable blockchain platform for smart device and machine connectivity,IoTeX powers a decentralized network of DApps (Cyclone, Mimo), smart devices (UCam, Pebble), services (ioPay, ioTube), and digital assets to deliver better value to end users.
Why buy Iotex (IOTX)?
IOTX is IoTeX’s native token. Its use cases include:
- Transaction Fees: Users spend IOTX to pay transaction fees, access DApps, register smart devices and network interactions.
- Staking: Users stake IOTX to participate in network consensus and earn IOTX rewards. The rewards are collected from gas fees and are redistributed to network participants.
- Governance: By staking, IOTX users/owners participate in network governance and have voting power.
- Native dApp Development: Developers can utilize IOTX to power their smart contracts, build dApps, and create new tokens on the IoTeX multi-chain platform.
