IoTeX launches W3bstream Devnet for accelerated DePIN development

IoTeX, a leader in the Decentralized Physical Infrastructure Network (DePIN) space, has announced the release of W3bstream Devnet. The infrastructure is designed to provide developers with a cost-effective and efficient way to build DePINs for various sectors such as commerce, consumers, and industry.

Timeline of Iotex

IoTeX has made waves with the official release of W3bstream Devnet, positioning itself as the first-ever provider of comprehensive tools and infrastructure for building transformative Decentralized Physical Infrastructure Networks (DePIN) dApps. This groundbreaking launch is set to speed up the DePIN sector's development process, slashing costs by 10x and accelerating go-to-market time for developers from two years to about two months.

The price of IOTX, the native token on the IoTeX network, has been on a bullish trend since mid-March. The token took a hit in February 2023 and its price dropped to about $0.22 by the start of March.

US multinational tech firm Google is increasingly getting involved in all aspects of the next iteration of the internet known as Web3, including a recent partnership with Coinbase to launch a crypto payment pilot program and expand its blockchain ecosystem. Its most recent move into the space is the launch of its Web3 Chats hosted by Raphael Hyde, which debuted with a very interesting conversation with IoTeX CEO and Founder Raullen Chai.

  Nesten and IoTeX join forces to build the world's most scalable and secure Web3 wireless network The DeWi startup says migration and adoption of W3bstream significantly facilitates its position as a leading Web3 wireless network Nesten, a community-driven wireless network provider based in California, has decided to migrate away from their Layer 1 Ethereum-based blockchain to IoTeX's more scalable, secure, and EVM-compatible multi-chain. The two startups have joined forces to build the world's largest, most scalable and secure Web3 wireless network.

From its inception in late 2017 to date, IoTeX has evolved significantly. Five years ago, several scientists and a VC expert came together to create what would become one of the world's most advanced IoT blockchains.

Roger Crook, a former DHL Global Forwarding Freight CEO, says Web3 would become the new standard across the shipping and logistics industry. Danny Weinberger, Morpheus.Network Co-Founder & CEO, says blockchain could increase international trade revenues by about 10%.

The California-based venture capital firm invested in MachineFi Lab, IoTeX's core developer, because of its potential to unlock data value for users in ways never before seen For several years now, experts around the globe have agreed that data has become the most valuable commodity worldwide. In 2017, The Economist wrote that "the world's most valuable resource is no longer oil, but data.

The leading provider of crypto market intelligence also said IoTeX aims to bridge the Web3 gap by establishing a single version of the truth for real-world activity IoTeX enables devices to capture and ingest what happens in the physical world to communicate these events to Web3 dApps Messari, the leading crypto market intelligence provider, released an in-depth report saying IoTeX's Web3 efforts are unparalleled. "There are currently no other blockchain IoT projects as encompassing as IoTeX," the firm's report adds.

Ankr and IoTeX meet on Twitter Spaces to discuss the future of IoT and how with blockchain technology, IoTeX can enable "all of us" to own our machines and data We all produce data constantly, even unsuspectingly, as all smart devices and machines are built to gather data for profit. A Domo report states each person generated 1.7 MB every second in 2020.

Since 2017, IoTeX has solely focused on building cutting-edge Web3 technology to reward hundreds of millions of people for contributing data and resources from billions of smart devices and carrying out everyday activities. However, as with many other projects in the space, the IoTeX team has also focused on research and development resources to ensure mass crypto and blockchain mainstream adoption.