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docs_depin/docs/depin_specs/sensor_networks/iotex.md
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Iotex Detailed information about Iotex 1

Iotex

Overview

Iotex is a decentralized IoT platform that allows users to connect and manage IoT devices in a secure and efficient manner. It leverages blockchain technology to create a more reliable IoT ecosystem.

Key Features

  • Currency: IOTX (Iotex Token)
  • Buying Currency: Available on exchanges like Binance and Coinbase.
  • Utility:
    • Used for network transactions and incentivizing IoT device management.
    • Staking rewards for network validators.
  • Automation:
    • Smart contracts automate IoT device management and interactions.
  • Utility in the Project:
    • Users can earn IOTX by managing IoT devices.
    • Validators can stake IOTX to secure the network and earn rewards.
  • API: Yes, Iotex provides an API for developers to integrate with their applications.
  • User Perspective:
    • Users can easily connect and manage IoT devices and earn IOTX tokens.

How It Works

  1. Step 1: Users connect their IoT devices to the Iotex Network.
  2. Step 2: The network enables secure and efficient management of IoT devices.
  3. Step 3: Users earn IOTX tokens based on their participation in the network.

Staking

  • Staking Requirements: Minimum of 10,000 IOTX tokens to become a validator.
  • Rewards: Validators earn a percentage of transaction fees and block rewards.

Documentation

For detailed documentation, visit Iotex Docs.

Additional Resources