### What is Binance-Peg IoTeX?
Binance-Peg IoTeX is a pegged token on the Binance Smart Chain (BSC), representing IoTeX's native token, IOTX. It is designed to facilitate interaction between the IoTeX network and the Binance Smart Chain, enhancing interoperability and usability across both ecosystems.

### How does Binance-Peg IoTeX work?
Binance-Peg IoTeX operates on the Binance Smart Chain, utilising a Proof of Staked Authority (PoSA) consensus mechanism. This combines aspects of both Proof of Stake (PoS) and Proof of Authority (PoA). Validators, chosen based on the quantity of BNB they stake, create new blocks on the network. The pegged nature of the token ensures it maintains a 1:1 backing with the native IoTeX token, enabling seamless interaction between the IoTeX network and Binance Smart Chain.

### What are the potential use cases for Binance-Peg IoTeX?
The potential use cases for Binance-Peg IoTeX are closely tied to the broader applications of the IoTeX network, which focuses on IoT and blockchain technology. Use cases include integration with smart devices, facilitating secure data interactions, DePIN structures, cross-chain interoperability, and various real-world applications like the Ucam and Pebble Tracker. Partnerships with entities like Binance Smart Chain enhance its utility in decentralised finance and IoT sectors.

### What is the history of Binance-Peg IoTeX?
IoTeX was founded by Xinxin Fan, Raullen Chai, Jing Sun, and Qevan Guo with the intent to create a blockchain framework for IoT devices. Launched in 2017, IoTeX focuses on building the 'Internet of Trusted Things.' The Binace-Peg IoTeX token emerged with the strategic integration of Binance Smart Chain, enabling the IoTeX ecosystem to leverage BSC's interoperability features. Its rollout included the ioTube v5 cross-chain bridge, enhancing the utility of Binance-Peg IoTeX through seamless token swaps across multiple blockchains.

Binance-Peg IoTeX

Deposits and withdrawals are not currently available for this coin.

Binance-Peg IoTeX (IOTX)

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