Learn Crypto : IoTeX IoTeX is a layer 1 network that combines | Cryptoverse

Learn Crypto : IoTeX

IoTeX is a layer 1 network that combines blockchain and the Internet of Things. This provides consumers authority over the data generated by their devices, enabling "machine-backed DApps, assets, and services." Your personal information is valuable, and keeping it on the blockchain ensures safe ownership.

The combination of hardware and software used by IoTeX offers a new way for consumers to govern their privacy and data without losing user experience. MachineFi is the system that allows users to earn digital assets from their real-world data.

IoTeX created two noteworthy hardware devices, Ucam and Pebble Tracker.

Ucam is a sophisticated home security camera that enables customers to watch their homes from anywhere and in total privacy.

Pebble Tracker is a smart GPS device with 4G compatibility and track-and-trace functionality. It not only records GPS data in real time, but also environmental data such as temperature, humidity, and air quality.

IoTeX features a variety of layer 2 protocols built on top of its blockchain architecture. The blockchain enables the creation of customised networks that employ IoTeX for finalisation. IoTeX allows these chains to communicate and share information with one another. Developers may then simply design a new sub-chain to match the unique requirements of their IoT device. IOTX is the token used by IoTeX for transaction fees, staking, governance, and network validation.