IoTeX is not built on Ethereum, but rather on its own proprietary blockchain. However, the two projects are similar in many ways.
Both are open-source, decentralized platforms designed to power the Internet of Things (IoT). And both use smart contracts to enable developers to build applications on their respective blockchains.
NOTE: IoTeX is not built on the Ethereum network. While there are some similarities between the two platforms, they are distinct in their respective design and implementation. Please be advised that using IoTeX does not guarantee any of the same functionality or security as Ethereum.
IoTeX and Ethereum also share a common vision for the future of the IoT. They both believe that the billions of devices connected to the internet will one day be able to communicate and transact with each other autonomously.
This would create a new “machine-based economy” in which devices can trade data, energy, and other resources with each other without the need for human intermediaries.
So while IoTeX is not built on Ethereum, the two projects are closely aligned in terms of their goals and their approach to realizing the vision of the IoT.
10 Related Question Answers Found
IoTeX is not based on Ethereum. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.
IoTeX is not an Ethereum. While both platforms are blockchain-based and open-source, they differ in their fundamental design and purpose. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
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IPFS (Interplanetary File System) is a protocol and network designed to create a decentralized file system. It is a content-addressed, peer-to-peer hypermedia distribution protocol. IPFS is built on top of the existing infrastructure of the Internet and leverages the power of cryptography to provide security and integrity.
IMX Ethereum is a public, decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is similar to Bitcoin in that it is a decentralized digital currency. However, Ethereum goes beyond being just a digital currency.
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Microsoft Azure is a cloud service created by Microsoft for building, testing, deploying, and managing applications and services through Microsoft-managed data centers. It is one of the most popular cloud services in existence. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
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Yes, iExec is on Ethereum. iExec is a decentralized application (dApp) store that allows users to buy and sell cloud applications, or “compute power”, in a safe and secure way. iExec is built on the Ethereum blockchain and makes use of smart contracts to ensure that all transactions are transparent and secure.
Yes, Axie Infinity is built on Ethereum. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Axie Infinity is a game about collecting and raising fantasy creatures called Axies.
