What is IoTeX? How It Works & Where to Use It

Overview

IoTeX at a glance.

IoTeX launched its mainnet in 2019 as an EVM-compatible chain aimed at connecting smart devices and physical-world data to blockchains. Here is how it works and what it is used for, not the price.

Total value locked (DeFi)

n/a

Value locked in DeFi protocols on IoTeX. Updated Jun 8, 2026. Source: DefiLlama.

Native token

IOTX

Used for fees and securing the network. See the live IOTX price.

How it works

How IoTeX works.

IoTeX uses Roll-DPoS, a variant of Delegated Proof of Stake. Token holders vote for a set of delegates who take turns producing blocks, and a randomized rotation selects which delegates form each round. The design combines Delegated Proof of Stake with a Byzantine fault tolerant agreement step and verifiable random functions to reach fast finality. Blocks are produced about every 2.5 seconds with single-block finality.

Consensus: Roll-DPoS

IoTeX uses Roll-DPoS, a variant of Delegated Proof of Stake. Token holders vote for a set of delegates who take turns producing blocks, and a randomized rotation selects which delegates form each round. The design combines Delegated Proof of Stake with a Byzantine fault tolerant agreement step and verifiable random functions to reach fast finality. Blocks are produced about every 2.5 seconds with single-block finality.

Built for DePIN

The network is aimed at decentralized physical infrastructure, where real-world hardware such as sensors and devices report data and earn token rewards onchain.

EVM compatibility

IoTeX runs an Ethereum Virtual Machine environment, so Solidity contracts and standard Ethereum tooling and wallets work on the chain with minor changes.

Delegated staking

Holders stake IOTX and vote for delegates who produce blocks, and both delegates and the holders who back them can earn rewards for securing the network.

Offchain compute layer

A supporting offchain computing component is used to process data from devices before results are committed onchain, keeping heavy data work off the base chain.

Ecosystem & usage

What IoTeX is used for.

IOTX is used to pay transaction fees, to stake and vote for block-producing delegates, and within applications that connect physical devices and data to the chain.

DePIN applications

Power networks where physical devices contribute data or services and are rewarded onchain.

Network fees and staking

Pay gas for transactions and contracts, and stake IOTX to vote for delegates and earn rewards.

EVM smart contracts

Deploy Solidity contracts and applications using familiar Ethereum development tools.

In Zypto App

Hold, swap and spend IOTX.

IoTeX is integrated in Zypto App. Hold IOTX in self-custody, swap it to any supported asset, and use it across Zypto’s features.

Hold IOTX in Zypto How to buy IOTX

Be the reason IoTeX ships next.

IoTeX isn’t in Zypto App yet. Post the request to your followers, chains with the most demand get prioritised.

Request on X

FAQ

Common questions.

What is IoTeX used for?

It is an EVM-compatible Layer 1 focused on DePIN, connecting real-world devices and data to onchain applications, and IOTX is used for fees, staking and voting for delegates.

Does IoTeX use mining or staking?

It uses staking through Roll-DPoS. Holders stake IOTX and vote for delegates who produce blocks, rather than miners competing on proof of work.

Is IoTeX compatible with Ethereum?

Yes. IoTeX runs an Ethereum Virtual Machine environment, so Solidity smart contracts and common Ethereum wallets and tools work on it.

How fast are IoTeX transactions?

Blocks are produced about every 2.5 seconds with single-block finality, so confirmations are typically quick.

Can I hold IOTX in Zypto App?

Not yet. IOTX isn't in Zypto App at the moment. You can hold it in any self-custodial wallet, and you can ask us to add IoTeX using the "Request IoTeX" button above.

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