IoTeX
Crypto Overview
Project Overview
IoTeX is a blockchain platform designed to serve as the backbone for Internet of Things (IoT) devices and applications. The platform aims to enable secure device registration, data management, and automated machine-to-machine interactions using blockchain technology.
Intended Utility
The IOTX token serves multiple purposes within the ecosystem: it's used for staking to secure the network through Proof-of-Stake consensus, as a governance token for protocol decisions, and as a means of payment for network services and IoT data transactions.
Actual Usage and Adoption
IoTeX has demonstrated legitimate technological development and real-world implementation. The project has launched actual IoT devices like Ucam (a blockchain-powered security camera) and Pebble Tracker (a real-world data oracle device). The network processes millions of transactions and has integrated with numerous IoT manufacturers.
Token Distribution and Governance
The token distribution shows a reasonable allocation: 24% to community rewards, 24% to ecosystem development, 15% to team and advisors (with 3-year vesting), 12% to private sale, 25% to public sale and mining rewards. The vesting schedule for team tokens indicates commitment to long-term development rather than short-term gains.
Development Activity
The project maintains active GitHub repositories with regular commits and updates. The development team is publicly known and includes professionals with relevant IoT and blockchain experience. They consistently deliver on their roadmap commitments and maintain transparent communication about technical progress.
Crypto Impact
To assign a comfort level investing in IoTeX from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to IoTeX.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.