IOTX Token
As for other similar Smart-Contract platforms, in IoTeX we have the concept of "native token": a token that is an integral part of the blockchain protocol and has multiple uses focused to run the platform itself. The native token on the IoTeX blockchain is called "IOTX", and it is used for paying GAS fees when you send actions to the network (such as token transfers, smart contract executions, staking actions, etc...), but it's also used to reward block producers for maintaining the blockchain, or for cross-chain actions to transfer assets across different IoTeX subchains or to other blockchains.
There are 6 fractions of the IOTX tokens, 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 |