IoTeX

IoTeX is an EVM-compatible Layer-1 blockchain built to provide decentralized identity, data verification, and compute infrastructure for real-world machines and AI systems — turning verified streams from physical devices into the trusted, real-time data layer that the next generation of AI needs to operate on the physical world.

The Problem IoTeX Solves

Today's AI models train on historical internet data. They have no reliable access to real-time, verifiable streams from the physical world — sensor readings from IoT devices, location data from mobility networks, energy metrics from smart grids, or environmental signals from connected hardware. Without trustworthy physical-world data, AI reasoning remains detached from real conditions. IoTeX's core thesis is that bridging this gap requires more than data pipelines: it demands cryptographic proof that data is genuine, timely, and originates from a real, authenticated device.

Founding and Team

IoTeX was founded in 2017 by Dr. Raullen Chai (CEO), Qevan Guo, Jing Sun, and Xinxin Fan — cryptographers and engineers who previously held senior roles at Google, Uber, and Intel. Dr. Chai holds a Ph.D. in cryptography from the University of Waterloo, with research focused on lightweight cryptography and privacy-preserving techniques for blockchain. The project launched its mainnet in 2019 and evolved through several upgrades before arriving at IoTeX 2.0, which repositioned the platform from a general IoT blockchain to a purpose-built Decentralized Physical Infrastructure Network (DePIN) technology provider.

The IoTeX L1 Blockchain

IoTeX operates its own Layer-1 blockchain using Roll-DPoS (Randomized Delegated Proof of Stake) consensus. The network maintains 60 or more elected delegates, with 36 consensus delegates active at any time and 24 randomly selected per epoch via Verifiable Random Functions, producing blocks approximately every 2.5 seconds. The chain is fully EVM-compatible, enabling standard Ethereum tooling while being optimized for the high-throughput transaction volumes typical of DePIN workloads — millions of small device data attestations and machine-to-machine interactions rather than large token transfers.

Core Technology Stack

IoTeX's value to DePIN builders is a modular, composable infrastructure stack:

ioID is IoTeX's decentralized identity protocol, giving machines, sensors, and AI agents verifiable on-chain identities. It implements W3C Decentralized Identifiers and Verifiable Credentials represented as NFTs, letting devices authenticate and operate autonomously on-chain without centralized identity registries. ioID provides programmable, self-sovereign identities for hardware that can persist across networks and operators.

W3bstream is an off-chain compute and data attestation framework that connects smart devices to smart contracts. W3bstream generates zero-knowledge proofs that attest to real device data without exposing raw readings, allowing DePIN projects to reward verified device contributions while preserving user privacy. It is designed as a trust layer sitting between raw hardware output and on-chain logic.

QuickSilver is an AI framework and real-time interaction layer that transforms verified machine data into structured context AI models can reason about and act on. QuickSilver enables large language models and autonomous AI agents to query live device data with verifiable provenance — supporting applications like drone routing, energy optimization, and sensor anomaly detection based on current rather than historical inputs.

DIMs (DePIN Infra Modules) are modular infrastructure components covering data attestation, identity management, staking coordination, and project governance. DePIN builders can assemble the modules they need without constructing foundational trust infrastructure from scratch, enabling faster time-to-launch for physical network projects.

Trio, introduced in June 2026, is IoTeX's multimodal foundational AI model designed to understand and operate the physical world through integrated sensory capabilities. It represents IoTeX's move into direct AI model development, built on top of its verified device data layer as part of the platform's evolution toward real-world AI.

In April 2026, IoTeX launched the IoTeX Hub — a unified interface consolidating governance, staking, analytics, and ecosystem project discovery into a single platform for participants and builders.

Ecosystem Scale

IoTeX reports 399 ecosystem projects, over 25 million DePIN devices connected across the network, and an aggregate ecosystem market value exceeding five billion dollars. Notable DePIN projects in the ecosystem include DIMO (connected vehicle data) and GEODNET (precision GPS infrastructure). Strategic partnerships include Vodafone, Pairpoint, Filecoin, Chainlink, and Animoca Brands, which has invested in IoTeX as a validator and ecosystem partner. A Real-World AI Foundry launched at Token2049 Singapore connects AI application builders with hardware network operators building on IoTeX infrastructure.

IOTX Token

IOTX is the native utility token of the IoTeX network, with approximately 9.4 billion tokens in circulation and a maximum supply near 10 billion. IOTX is used to pay transaction fees, stake to elect consensus delegates, participate in on-chain governance, and fund DePIN participant incentive programs. A material portion of the circulating supply is staked to delegates at any given time, securing the network and earning staking rewards.

In December 2025, IoTeX published a MiCA-compliant whitepaper for IOTX, enabling regulated treatment across all 27 EU member states and leading to exchange listings on EU-regulated platforms. IoTeX was also included in the CF Benchmarks index, providing an institutional-grade reference rate for the token.

Security

In February 2026, the Ethereum-side of IoTeX's ioTube cross-chain bridge suffered a security breach attributed to a compromised employee machine via suspected social engineering, in an attack Chainalysis later attributed to the same group behind the $49 million Infini exploit. The attacker drained approximately $4.4 million in bridge reserve assets and minted unauthorized wrapped tokens. The IoTeX L1 itself was not compromised at any point.

The team froze most stolen tokens, made affected users whole, and launched an independent third-party security audit of all bridge infrastructure before resuming bridge operations. Governance proposal IIP-55 was expedited to decentralize bridge validation through a multi-party validator set, and multi-signature plus 24-hour time-lock controls were introduced to eliminate single points of failure. Separately, IoTeX published post-quantum security research in April 2026 and launched a quantum-resistant SPP Wallet implementation on testnet.

Position in the DePIN Landscape

IoTeX is not a Solana-native project — it operates its own independent Layer-1 chain. It sits in the same category as DePIN infrastructure that Solana has also become a significant home for, with projects like Helium, Hivemapper, and DIMO spanning multiple ecosystems. IoTeX's modular W3bstream attestation and ioID device identity layers are designed to be interoperable, meaning its infrastructure can complement DePIN projects regardless of where their token contracts ultimately settle. For builders evaluating dedicated DePIN infrastructure, IoTeX offers the most purpose-built vertical stack in the category — with over eight years of development history, an active validator set, and an established ecosystem of real physical device integrations.