What Is Crosschain IOTX (CIOTX)?

Crosschain IOTX (CIOTX) is a wrapped IOTX token to be bridged to any network via iotube. iotube is a decentralized cross-chain bridge that enables the bi-directional exchange of tokens between IoTeX, Ethereum, and Binance Smart Chain. Wrapped crypto tokens are cryptocurrencies linked to the value of another original crypto and put to work on the DeFi platforms to eliminate difficulties in exchange. The original asset is 'wrapped' into a digital vault that allows the wrapped version to be created on another blockchain.

Users can swap IOTX/WIOTX/CIOTX at a 1:1 ratio anytime on the IoTeX network. CIOTX, a project's wrapped token, is only available on IoTeX and Polygon networks. Iotex is an EVM-compatible blockchain that powers an ecosystem of smart devices, DApps, and NFTs. Further, IOTX token fuels the transactions and smart contracts deployed on the IoTeX network. The Ethereum virtual machine (EVM) is the software platform that deploys all Ethereum accounts and smart contracts for developers to create decentralized applications (DApps). Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on blockchain.

IoTeX's mission is to enable a global ecosystem where humans and machines can interact with guaranteed trust, security, and privacy. That is to envision a future where users, not institutions, have complete control of their devices and data. The CIOTX token is available on the IoTeX ecosystem.

History of Crosschain IOTX (CIOTX)

The project had a maximum total supply of 10 Billion IOTX which can be exchanged with CIOTX.

QC Comment:writer has used Dapp Radar’s which is not a competitor’s site but not a part of platform’s official website as well.