IOTX Token
IoTeX defines a native token represented by the symbol IOTX . This token is an integral part of the blockchain protocol to reward block-producers for keeping the network running and reward stakeholders for keeping the network secure by voting for delegates and locking their stakes. IOTX Tokens are also required to pay a "GAS fee" when a valid action is sent to the network, and this fee contributes to the rewarding pool for block-producers.
6 fractions of the IOTX token are defined, where 1 Rau is the smallest IOTX token unit:
Fraction | IOTX Value | Rau Value |
1 Rau | 10⁻¹⁸ IOTX | 1 Rau |
1 Krau | 10⁻¹⁵ IOTX | 10³ Rau |
1 Mrau | 10⁻¹² IOTX | 10⁶ Rau |
1 Grau | 10⁻⁹ IOTX | 10⁹ Rau |
1 Qev | 10⁻⁶ IOTX | 10¹² Rau |
1 Jing | 10⁻³ IOTX | 10¹⁵ Rau |
1 IOTX | 1 IOTX | 10¹⁸ Rau |