The blockchain industry is seeing immense growth and development. Given how new the field is, every IoT company is looking to innovate and improve on existing tech.
This desire to constantly develop better technology is apparent in the merging between IoT and blockchain. And when an estimated 100 billion devices are expected to be connected to the internet by 2050, this demonstrates that the potential of blockchain and IoT fusion is truly vast.
Today, there have been significant strides to improve blockchain and IoT interconnectivity, with the company IOTEX fully taking the initiative to innovate through a variety of updates. This article will describe the updates to the IoT and blockchain space as well as the improvements that IOTEX has made via the 1.3 update released this week.
According to a paper on ResearchGate:
“An estimated 100 billion devices will be connected to the internet by 2050”
Bitmart is Bringing IOTX to the United States:
One of the biggest pieces of news to come out of the IoT blockchain industry in recent weeks is that crypto trading exchange Bitmart is finally bringing IOTX, the native token of IOTEX, to the United States market. This is big news because Bitmart is considered a top-tier trading platform with 5.5 million users across 180 countries. The platform allows their users to easily exchange, buy, and sell 200+ cryptocurrencies to other members. After 3 years being off the US market, IOTEX is finally making its landing into the world of US crypto. The introduction of IOTEX means that users will be able to trade, stake, and mine their IOTX tokens, and take advantage of everything it has to offer.
Jing Sun, Cofounder of IoTeX elaborated on this:
“IoTeX is the first blockchain to bring Decentralized Identity (DID) to life in the form of real world devices. Pebble Tracker , a blockchain-powered asset tracker not only allows you to own your data exclusively, but also allows you to share it with IoTeX DApps and “data farms”. Now you can extract value from the data that you own. This is truly the future and the birth of IoTeX’s vision — we can finally have devices we trust AND that deliver value to everyday people, not corporations.”
What Bitmart’s Introduction To The US Means For IOTEX:
With Bitmart becoming available in the United States, the IOTX coin to be traded and exchanged amongst US traders. This is a major step forward for the company, as they now have their own cryptocurrency available for trading and staking.
IOTEX, the company that was once firmly behind IOTA in usability and market adoption, is now leading the way in unlocking blockchain and Iot potential. By bringing their own token to the US market, IOTEX now has a crypto currency to pair with their two impressive physical products that make blockchain the usable, secure, and flexible technology it was designed to be.
The first of IOTEX’s products is Pebble, which is a revolutionary device that uses blockchain to both gather and secure data. There are a variety of use cases for this device, as companies can use the product to track data and make necessary adjustments or changes on the fly. In addition, the company has also developed an innovative security camera called Ucam. Ucam is truly a game-changing product, as it won the CES 2020 Innovation Award. The camera implements blockchain technology to allow a user to control which videos are meant to be viewed, who can view these videos, and which portions of these videos are suitable for viewing. While IOTA does have their own cryptocurrency, they do not have their own devices and simply cannot compete with these two impressive projects that IOTEX has created. You can learn more about Ucam here or discover the possibilities of Pebble!
IOTEX Update 1.3 Summary:
Looking at the latest IOTEX developments, just this week we saw the forward-thinking company release update 1.3. This new update takes the IOTEX ecosystem to new heights, with one of the biggest developments being cheaper transactions. The 1.3 update means that every action will cost substantially less money, as all forms of transaction cost less than .001 cent! This means that for only $1 dollar, a person can use a highway EZ pass for 10 years. In addition, these transactions are now faster than ever, as the new update allows for these actions to be completed in a matter of seconds.
Furthermore, the newest version of the IOTEX platform allows users to stake and earn up to 15% APY (these rates may vary). The ecosystem is also the most secure that it has ever been, helping to prevent unwanted hacks. Finally, IOTEX’s physical devices Ucam and Pebble will soon support NFT functionality and the exciting world that comes along with it. All in all, this update is a major step for IOT and blockchain integration. The future is bright for IOTEX and IoT blockchain technology.