IoTeX Overview
IoTeX is one of the top decentralized networks compelling the machine economy and the third-generation web, MachineFi. The platform was developed to enable programmers to link up trillions of machines with web3 infrastructure and manufacture cutting-edge applications like DeFi, NFT, Metaverse, etc. The platform is a greater performance public blockchain featuring off-chain computing for machines and devices including cross-chain bridges, wallets, and the marketplace introduced by IoTeX.
The company was founded in 2017 by graduates from Facebook, Google, Uber, Bosch, and Intel. Along with over $2 billion in on-chain assets, 300K on-chain users, and around 10K connected devices spanning hundreds of applications, the IoTeX platform has experienced remarkable growth. As a layer one blockchain that allows safe and reliable communication between IoT devices and the community, the company is aiming to build a platform that will serve as the center of the IoT environment and let customers securely access data.
IoTeX has increased a total of $100 million worth in a single venture fund, which was announced on March 16, 2020. The platform's estimated annual revenue is $7.4 million per year with an estimated revenue of $130,500 per employee currently.