The Internet of Things and Crypto - How Can They Collaborate?
The Internet of things (IoT) and cryptocurrency have become a foundation for the world of the future. 2019 became the turning point for the IoT when the number of IoT devices grew higher than the number of non-IoT devices. It is expected that by 2025, the number of internet-of-things devices will outgrow the number of usual devices by 3 times.
The internet of things is already changing all walks of our lives. It helps to save energy, make our homes safer and more efficient, improves the management of supply chains, boosts the agricultural sector, and similar. The list can be expanded.
IoT and Crypto - Possible Scenarios
In synergy with cryptocurrency, IoT can change the way we live and work completely. For example, Amazon already accepts orders made by smart devices. If this trade giant accepts cryptocurrency - it doesn’t look impossible anymore - your Alexa would be able to place orders and pay with crypto.
And what about a smart fridge that orders food as soon as it needs to be replenished? In the future, we might even pay bills for energy and water based on the utilization, in real-time mode. If we speculate that blockchain will be widely adopted, too, and peer-to-peer transactions will become common, we will be even able to buy excess energy generated by our neighbor's solar panels and pay in crypto.
Are There Any Projects Working on It?
Yes, there are projects that are trying to bring this idea to life. IoTeX is one of them.
What Is IoTeX (IOTX)?
IoTeX is a private blockchain infrastructure for the internet of things. The IoTex’s team is not merely trying to enhance the existing IoT infrastructure but to create a completely new approach to the IoT and crypto collaboration.
The team aims to make a system where all the IoT devices will be coordinated and managed autonomously. Light cryptography will be used to ensure the privacy of all the data in the network.
The team believes that IoT devices are too different with different needs. That’s why hosting all of them on a single blockchain will not be efficient. So, devices will utilize sidechains for each functionality. All sidechains will be interconnected and collaborate one with another to ensure the system’s integrity.
Even though for now, the IoTeX’s team hasn’t advanced a lot with the project, IOTX is for sure a coin that shall be kept on the radar constantly. Its value might explode at some moment in the future.
How to Mine IoTeX?
IOTX cannot be mined. They can be staked for rewards.
IOTX Price Prediction 2024
Unlike the IoTex price prediction 2022, the IoTeX price prediction 2024 looks more promising. It may be connected with the expectations for the growth of internet of things adoption. Specialists believe that by 2024, one IOTX will be traded for at least $0.07. The growth is expected to be stable.
IOTX Price Prediction 2025
According to the IOTX price prediction from TradingView, the coin value will continue to grow. The price of one IOTX may grow to as much as $0.10, with rare drops below $0.09.
IOTX Price Forecast 2027
By 2027, the IOTX value is going to boost to $0.2. It is expected that the growth will continue to be stable, and the coin will be traded without major price collapses.
IOTX Price Prediction 2030
The IOTX value will continue growing with the growth of IoT adoption. In 2030, one IOTX is forecasted to cost $0.7.
Future of IOTX
The future of the project depends directly on the development and adoption of the internet of things. With the advancement of the mentioned technology, the project that supports it is also going to grow in value.
FAQ
How can I buy and trade IoTex (IOTX)?
You can buy and exchange IoTex on our platform, along with over 1,500 other coins and tokens.
Is it safe to use IOTX in 2024?
For now, the project developers haven’t advanced much. The project also depends on a different technology in the matter of growth and adoption. That’s why now, the native project’s token IOTX experiences high volatility. But its future is bright, and it may become a very profitable investment in the long run.
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