IoTeX (IOTX)

Crypto currency IoTeX is a digital token platform for collecting and storing information collected by devices connected to the Internet Things.

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What is IoTeX

IoTeX decouple that state transition mechanism with the consensus canonicalization mechanism by throwing away concepts like blocks and chain. Instead, transaction issuers are also transaction approvers and transaction verification is constructed using a Directed Acyclic Graph (DAG) to make transaction fast and zero cost. This scheme is obtained by losing globally definite states, which make desired features like Simple Payment Verification SPV for light clients and smart contracts quite challenging.

The IoTeX project does not position itself as an ICO. The team abolished the token sale and decided to focus on building an active global community and regularly publishes programs for their remuneration. At the moment, they do Charity Programs (charity programs), where everyone can donate a certain amount of ETH and get bonuses.