# What is IoTeX?
IoTeX was founded in 2017 as an open source project, with the vision of bringing together people, processes, data and things with trust and free will, to create new capabilities, richer experiences, and unprecedented economic opportunities.
IoTeX is an open platform aiming to be the global trust backbone for connecting distinct parties, intelligently and efficiently, where the blockchain is just one component of this platform: the one that orchestrates and provides trust among all network participants.
The Internet of Things is changing the way we live and work. Today, IoT lets us gather data from any connected device, and use it to enhance our business processes and daily lives.
But we’re only at the start of our journey to realize the full potential of IoT: What if we didn’t have to rely on centralized parties to store and transfer our private data? What if we could make IoT affordable, scalable and widely adoptable? What if all IoT networks could interoperate and share data autonomously, seamlessly and securely? What if we told you - blockchain is the answer?
# The infrastructure for the Internet of Things
IoTeX is not just an enhancement to existing IoT technology - it’s a completely new vision for the future of IoT, to make autonomous device coordination a reality: We built IoTeX from scratch, and made upfront design decisions to tailor fit blockchain technology for IoT, using advanced lightweight cryptography to ensure privacy of all data in the IoTeX network.
Our Roll-DPoS consensus mechanism provides instant finality and the throughput needed to support billions of IoT devices. Our scalable blockchains-in-blockchain architecture enables anyone to create their own IoT ecosystems, orchestrate devices via smart contracts, and share their data across the IoTeX network.
IoTeX will allow us to dream bigger, and create revolutionary IoT applications and services: the possibilities are endless.
Join us on our journey to create the foundation for tomorrow’s Internet of Things, by “connecting the physical world - block by block.”