Binance Research Report on IoTeX, a Decentralized Network Powered with Privacy Centered Blockchain

Binance Research is the Market research analysis division of well known global cryptocurrency exchange, Binance. It provides data-driven analysis and insights for speculators in the crypto space to expand the dimension of transparency and to improve the quality of data inside the crypto environment. The group comprises of experts in blockchain engineering, academic data science, and research, technology consulting and Investment banking.

In a recent tweet by Binance Research –

Important highlights of the report given by Binance Research

  • In February 2018, IoTeX has raised $20.0MM (25,000 ETH) through private token sales.
  • In April 2019, IoTeX has launched mainnet.
  • It is based on IoT. It builds “Blockchains in Blockchain” network as a basis for infrastructure to connect the physical world to the blockchain.
  • It Uses “Roll-DPoS” (Roll-Delegated-Proof-of-Stake) agreement to deliver greater adaptability without forgoing security or decentralization.
  • IoTeX objective is to direct back-to-back trust in the IOT lifecycle, which includes data collection, utilization, storage, and transport.
  • Currently, the IoTeX token is as of now listed in 13 trades. The leading crypto exchanging sets are IOTX/BTC, IOTX/ETH, and IOTX/USDT.

IoTeX was started in 2017 to construct the Internet of Trusted Things, where physical and virtual “things” such as humans, machines, organizations, and dApps can effectively trade data and value at a worldwide scale. IoTeX is backed by a global group of top-level engineers and research experts; IoTeX joins blockchain, hardware, and information security to understand the maximum capacity of IoT.

IoTeX is not the main blockchain organization hoping to bring multi-party trust answers for IoT. As indicated by McKinsey, a market that could create $11 trillion in a financial incentive by 2025 draws a lot of projects with interests. Also, it is not surprising that like IoTeX, different organizations have come up with solutions to associate billions of gadgets with billions of individuals.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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