IOTX

Overview of IOTX

IOTX, also known as the IoTeX Network Token, was founded in 2017 by Raullen Chai, Qevan Guo, and Jing Sun. The main aim of this cryptocurrency is to establish an open ecosystem where all “things” can interact with each other with complete trust. IoTeX's token, IOTX, is used as the network's native cryptocurrency. It's utilized for various purposes within the IoTeX Network, including for transactions, staking, and governance.

IOTX is supported and traded across several exchanges, including prominent ones such as Binance, HitBTC and KuCoin to name a few. In terms of storage, users can securely keep their IOTX tokens in wallets like MetaMask, Trust Wallet, and ioPay. The IoTeX project continues to develop with a focus on expanding IoT applications, scalability, privacy, and developing innovative IoT devices.

Pros and Cons

IOTX Price Prediction

Looking ahead to the future, IoTeX's price is predicted to experience fluctuations. By 2030, it is expected to range between $0.09993 and $0.1206. As we move into 2040, the forecasted trading range expands to $0.1934 on the lower end and $0.2350 on the higher end. By 2050, technical analysis suggests that IoTeX could see its minimum price at approximately $0.2870 and its maximum at around $0.3506, with an anticipated average trading cost of about $0.2872.

Exchanges to Buy IOTX

Several prominent exchanges support the trading of IOTX. Here are a few examples, including the currency and token pairs supported:

1. Binance: At Binance, a globally recognized cryptocurrency exchange, IOTX can be traded with multiple pairs. These include IOTX/BTC, IOTX/BNB, IOTX/USDT, IOTX/BUSD, and IOTX/ETH.

2. HitBTC: Being one of the most advanced cryptocurrency exchanges, HitBTC allows trading of the IOTX/BTC pair.

3. KuCoin: This exchange supports several IOTX trading pairs, including IOTX/BTC, IOTX/ETH, and IOTX/USDT.

4. Gate.io: At Gate.io, users can trade IOTX against USDT.

5. MXC: MXC is a high-performance digital asset trading platform that supports IOTX/USDT as its currency pair.

How to Store IOTX？

IOTX can be stored in a variety of wallets, depending on your need for security, accessibility, and convenience. Here are three types of wallets which can be used to store this token:

Software Wallets: Software wallets are programs that you download and run on your PC or mobile device. They offer a good balance between security and convenience. ioPay is a specialized wallet developed for IoTeX, which is available as a mobile app and a desktop version.

Hardware Wallets: If you are holding a large amount of IOTX and security is a major concern, a hardware wallet is generally the safest option. These wallets are physical devices that store your tokens offline, making them immune to online hacking attempts. While not directly supported, IOTX can be stored on some hardware wallets using the wallet's Ethereum application due to IOTX's Ethereum compatibility.

FAQs

Q: Which exchanges can I use to acquire IOTX？

A: IOTX can be purchased on several exchanges such as Binance, HitBTC and KuCoin, among others.

Q: How can I store my IOTX tokens securely？

A: IOTX tokens can be stored in various types of wallets, including web wallets (eg. MetaMask), software wallets (eg. ioPay), and hardware wallets compatible with Ethereum.

Q: What sets IOTX apart from other cryptocurrencies？

A: IOTX diverges from other cryptocurrencies by its concentration on IoT applications, scalable blockchain-in-blockchain architecture, and the incorporation of token holder governance.

Q: What consensus mechanism does IoTeX Network utilize？

A: IoTeX Network employs a variant of Delegated Proof-of-Stake (DPoS) consensus algorithm called Roll-DPoS.

Q: What's the role of IOTX in the IoTeX platform's governance？

A: In the IoTeX platform's governance, IOTX tokens allow holders to participate in decision-making processes related to the development of the platform.