Latest IoTeX News

IoTeX, a decentralized physical infrastructure network, and Polygon Labs have announced that IoTeX 2.0 will integrate with AggLayer to power cross-chain communication and liquidity across the DePIN ecosystem. Raullen Chai, the chief executive officer and co-founder of IoTeX, disclosed the partnership on Sept. 17 at the R3al World event in Singapore. As the DePIN market experiences significant growth, developers have focused on innovations that can enhance communication and cross-chain liquidity. Polygon projects tap into IoTeX infrastructure. AggLayer Boosting DePIN Market AggLayer is a decentralized service designed to connect blockchains, enabling projects on different chains to programmatically distribute rewards. The protocol’s infrastructure promotes efficiency and further scales the $19.7 billion DePIN market, according to a press release shared by IoTeX and Polygon Labs. Notably, multiple projects on Polygon have integrated IoTeX technology, including CoinFund and Pantera Capital-backed DePIN project GEODNET, and DIMO, a user-owned network that turns users’ car data into assets.

IoTeX, a DePIN infrastructure platform, is partnering with Polygon Labs to integrate its IoTex 2.0 blockchain with AggLayer. The partnership aims to leverage AggLayer's cross-chain communication and liquidity sharing capabilities. This integration will enable IoTeX-based projects to distribute rewards and allow users to transact on the chain of their choice. The collaboration was announced by Raullen Chai, CEO and co-founder of IoTeX, and Sandeep Nailwal, co-founder of Polygon, at the R3al World event in Singapore. Polygon Labs and other core contributors are developing AggLayer, an interoperability layer designed to provide unified security and liquidity across multiple chains. By implementing ZK proofs, AggLayer aims to mitigate the risks associated with the failure of a single chain. ZK proofs allow parties to verify the accuracy of a statement without revealing the underlying data, enhancing the security and privacy of blockchain systems. In July, IoTeX introduced a white paper for IoTeX 2.0, a technology stack comprising composable modules and a unified trust layer. This stack is intended to drive the adoption of DePIN (Decentralized Physical Infrastructure Network) and is supported by a token economy that connects DePIN dapps, Layer 2 chains, and devices. Chai emphasized that IoTeX's infrastructure will enable seamless connectivity between DePIN developers and AggLayer, empowering users to engage with DePIN applications across various blockchains.

CoindarIoTeX is set to participate in a series of events during the Token 2049 conference. The team will be present at the R3al World conference, a collaborative event organized by IoTeX and Messari. The conference is scheduled to take place from September 16 to September 17. Additionally, IoTeX will also be part of the deAI Summit on September 16th, DePIN Mass Adoption on September 17th, In the World of DePIN on September 19th, and DePIN Day Singapore on September 20th. This participation highlights IoTeX's engagement in the blockchain and IoT community. **IoTeX: Revolutionizing IoT with Blockchain** IoTeX (IOTX) is an open-source blockchain platform tailored for the Internet of Things (IoT) sector, focusing on scalability, privacy, isolation, and decentralized application development. The project aims to tackle IoT ecosystem challenges like security vulnerabilities, high maintenance costs, and scalability constraints. By introducing a novel blockchain architecture, IoTeX supports a vast array of IoT devices. Central to IoTeX is the 'blockchain within a blockchain' concept, where the root blockchain manages network security, while sub-blockchains handle IoT device management and transactions. The native token, IOTX, powers the IoTeX network, facilitating transactions and governance participation.

DePIN company IoTeX has launched its Solana Bridge, aiming to enhance interoperability between the IoTeX and Solana ecosystems. This bridge, leveraging IoTube Bridge Architecture, enables asset transfers and data sharing, fostering collaboration and broader engagement. With a recent funding round of $50 million, IoTeX is focused on accelerating ecosystem growth, following previous initiatives like W3bstream and ioTube to strengthen its position in the DePIN sector. **How Solana Bridge Works** The Solana Bridge by IoTeX connects the two major DePIN platforms, facilitating cross-chain transfers and expanding the reach of Solana DePIN projects. Utilizing IoTube Bridge Architecture, the bridge ensures secure transactions through a two-thirds witness signature consensus mechanism. It supports elliptic curve signatures for different transfers, enhancing interoperability and accessibility for both ecosystems. **Previous DePIN Projects** IoTeX's latest development, the Solana Bridge, builds on the integration of W3bstream into the Solana ecosystem. W3bstream, a Layer-2 protocol for decentralized data processing, enhances scalability and performance by offloading data processing from the main blockchain. With a focus on data integrity and trust, W3bstream is valuable for applications like supply chain management and IoT, reinforcing IoTeX's role as a central platform for DePIN and expanding its ecosystem.

The DePIN-EdgeAI protocol, Network3’s mining machine, N3 Edge V1, has gained significant traction with over 1,800 devices already on-chain. Following the rapid sellout of the initial batch of 3,000 devices on August 20, these devices are now operational in 185 countries. Network3's N3 Edge V1 marks a shift in the AI industry by promoting fairness and competitiveness, moving away from energy-intensive and specialized hardware typically associated with mining. This device encourages broader participation in crypto-mining by enabling everyday users to mine tokens using simple devices like smartphones or computers. Users of N3 Edge can earn rewards by sharing internet bandwidth, providing computational power, and contributing data from their devices. These contributions are converted into utility tokens, supporting network activities and on-chain operations. Network3's successful launch of N3 Edge signifies a significant step towards a more equitable digital economy and a technologically advanced decentralized future. **A Privacy And Performance Focused Dual Mining Machine** Network3's physical mining device, N3 Edge V1, stands out for its ability to mine IoTeX and Network3's native tokens simultaneously. This innovative machine allows users to enhance their N3E credit points and earn financial incentives, providing improved monetization opportunities. N3 Edge is a lightweight yet powerful mining device that seamlessly integrates with IoTeX's infrastructure, including W3bstream and ioID. Users can easily set up their N3 Edge devices by connecting to a power source and start mining two types of tokens. By combining DePIN and Edge AI in the mining machine, Network3 ensures that local data from edge devices is readily accessible. N3 Edge functions as a personalized cloud service, emphasizing privacy and decentralization. Users can host and manage their clouds at home with N3 Edge, reducing latency and enhancing control over data privacy. This device enables anyone to integrate Edge V1 into an existing network and compete directly with Tier 1 systems, offering a new dimension to personal cloud computing and AI training landscape. **Expanding Monetization Opportunities in Crypto x AI With N3 Edge V1** Priced at around $900, N3 Edge V1 boasts an estimated daily earning of $7.5, with a breakeven period of 120 days or 4 months. Network3's N3 Edge emerges as one of the most profitable DePIN devices in terms of Return on Investment (ROI), ranking first in daily earnings and third in total return speed on DePINscan. Beyond its financial performance, N3 Edge has become one of the pioneering DePIN protocols to fully integrate into DePINscan's expanded on-chain metrics. Users of N3 Edge can diversify their revenue streams and create new income sources by leveraging their home IoT devices, paving the way for novel approaches in decentralized data processing for the AI industry.

A recent MV Global report highlights the transformative potential of DePINs in the Web3 space, with over 1,000 projects and a $50 billion market cap. DePINs, decentralized physical infrastructure networks, aim to decentralize real-world systems like communication networks and energy markets. The report predicts a $128 billion market for decentralized data storage by 2028, driven by AI demand. DePIN projects are gaining traction, attracting both existing Web3 users and newcomers from Web 2. Emerging projects like Helium and Destra.network are disrupting traditional infrastructure, while specialized blockchains like Peaq and IoTeX cater to unique network needs. Projects in sensor networks and energy storage solutions are also on the rise, with Daylight and EC3 leading the charge. Established players like Filecoin and Arweave are poised to benefit from the growing demand. The report emphasizes the significant impact DePINs can have on real-world infrastructure across various sectors.

PowerPod, the first DePIN NFT with with real-world benefits launched in collaboration with Mamotor electric motorcycle company in Macau, was sold out on the IoTeX chain within hours. This NFT allows holders to earn $PT tokens based on the daily electricity consumption at Mamotor's electric motorcycle charging stations in Macau for a 30-day period. PowerPod, initiated by IoTeX, aims to build a decentralized energy sharing network, with the charging scenario for new energy vehicles being its first successful implementation. By utilizing the DePIN model, PowerPod seeks to accelerate the coverage of new energy infrastructure, improve resource utilization, and reduce carbon emissions through device sharing and resource interoperability. IoTeX, as a leader in DePIN infrastructure, has provided early and comprehensive support to PowerPod in terms of engineering, technology, and resources to accelerate its development. Energy, especially new energy infrastructure, is one of IoTeX's key focus areas and a significant value proposition for DePIN. IoTeX will continue to support innovative DePIN projects through its modular infrastructure platform and DePIN Surf accelerator, driving DePIN towards a era of widespread adoption.

Pundi X to Host AMA on Revolutionizing Infrastructure with RWAs and DePIN, featuring IoTeX Speaker. Pundi X (PUNDIX) is a blockchain-powered solution enabling instant transactions in physical stores. The ecosystem includes XPOS, XPASS, and XWallet, offering seamless connections between digital wallets and the payment system. The platform supports ERC20 tokens from DeFi projects, enhancing utility. The PUNDIX token is central for transactions, fees, and rewards within the ecosystem.

Decentralized Physical Infrastructure Projects (DePIN) are booming in funding, with a 296% increase in seed investments, reaching a total market valuation of 20 billion dollars. IoTeX and peaq have raised significant amounts, reflecting growing investor interest. These projects aim to decentralize critical physical infrastructures, ushering in new economic models. While new players challenge established giants like Filecoin and Helium, profitability remains a challenge. Success lies in turning technological promises into widely adopted products.

Network3's N3 Edge V1 mining devices, powered by the DePIN-Edge AI protocol, sold out in seconds after launch. The dual mining machine allows users to mine Network3's native token and IoTeX tokens, offering enhanced capabilities and easy setup. By democratizing the crypto-mining landscape, Network3 aims to incentivize general users to participate in mining and contribute to data privacy and security. The protocol combines DePIN and Edge AI to provide a decentralized mechanism for training AI models, challenging centralized data processing. Network3's successful launch of the N3 Edge V1 marks a significant step towards a more equitable and decentralized future in the AI industry.