What is IOTX?
IOTX is the token of the IoTeX protocol, a decentralised blockchain technology that is dedicated to ensuring physical and virtual items can effectively exchange information through the Internet of Things at a global scale. The technical team behind this company consists of Ph.D. holders from the University of Waterloo and engineers in different fields, including artificial intelligence and cryptography. Some of the team members have previously worked on Facebook, Uber, Google, and Bosch. The primary goal of IoTeX is to provide users with end-to-end trust within the Internet of Things, including transportation, data collection, utilisation, and storage. The IoTeX uses the unique features of blockchain technology to advance their vision, including: • Decentralised governance: this allows delegates to vote when it comes to changes within the blockchain. • Gas fees: One of the perks of running this blockchain system is that gas fees are collected as tax. IoTeX comprises a network of blockchains arranged hierarchically, and they also run concurrently with each other.