IoTeX began as an open-source project in 2017 with the goal of empowering open economics for machines by allowing humans and machines to communicate with trust, free will, and under properly structured economic incentives. It aims is to create a algorithm called Roll-Delegated-Proof-of-Stake ("Roll-DPoS"), which was introduced in 2019 to provide greater scalability with immediate finality, without losing decentralization or security.IOTX is the native token that governs the underlying blockchain system as well as serving as the network's gas. Besides, burndrop is a novel cost-effective architecture that causes IOTX to deflate as the number of devices controlled by IoTeX grows.