The research company Messari has published a report on the state of the IoTeX infrastructure, a modular blockchain solution for decentralized physical infrastructure networks (DePIN). The report highlights the platform's progress since implementing the 2.0 update in Q3 2024 and its readiness to lead the next market trend. The IoTeX platform has seen an increase in network activities, fees collected, and participation with the web3 ecosystem. The report also notes the introduction of the ioID protocol, which transforms hardware devices into publicly verifiable on-chain entities. In Q3 2024, there was significant growth in blockchain transactions and active wallets on the IoTeX network, attributed to the 2.0 update and the launch of the ioID protocol. The report also mentions the increase in fees collected, with expectations of further growth in the coming quarters. IoTeX has become the third largest DePIN ecosystem, with 230 participating dapps and a range of use cases including connected smart vehicles, geo-mapping, energy data tracking, and more. The platform has collaborated with various projects in the sector to provide support and establish a network of complementary services.



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