1) What is IOTEX?

IOT stands for Internet of Things. And IOTEX is a decentralized network for Internet of Things (IoT) powered by a privacy-centric blockchain.

Problem Identified

Despite its rapid evolution, IoT is still far from reaching mass adoption and lacks “killer applications” that would draw new users to the ecosystem.

This is due to issues such as

low scalability, high operating cost, privacy concerns and lack of functional values. Solution by IOTEX

IoTeX is tackling this problem by introducing token economy into IoT spaces as the team strongly believe that crypto incentives as well as the community effort are the two key forces to propel innovations in IoT space.

In short, IoTeX is the next generation IoT-oriented blockchain platform with strong scalability, privacy, isolatability and developability for incubating new IoT applications and ecosystems.

2) Tech and Applications of IOTEX

According to the whitepaper, IOTEX is a hybrid of