IoTeX Redirects Cryptocurrency Hype Towards Charity, Launches Privacy-Focused Blockchain

Over the years NGO’s and charity institutions have been using all types of conventional methods as well as technological aids for getting donations. However, IoTeX has decided to take a completely different approach. The blockchain startup company is redirecting the hype associated with digital currencies towards charitable donations. The company will also ensure that those who donate through IoTeX platform will receive rewards.

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IoTex To Launch Privacy-Focused Blockchain

IoTeX is a startup known for building privacy-centric blockchain infrastructure for the Internet of Things (IoT). The next-generation decentralized network recently announced the launch of “out of stealth”. It will provide privacy-centric blockchains thereby bringing the token economy to the corridors of IoT. Simultaneously, the new update will offer advantages to the developers and manufacturers of the device identity management supply chain, smart home, and machine-to-machine and industrial IoT solutions by reducing the go-to-market barriers for them.

IoTeX Completes Second Charity Program

The company completed its second Charity Program where those who donated received “tokens of appreciation” from IoTeX. The co-founder of IoTeX, Jing Sun said, “We are grateful for our incredible global community that participated in IoTeX’s Charity Program. IoTeX is proud to support the broader blockchain ecosystem, and knowing our community is by our side makes it even sweeter.”

The company conducted its first charity program in March 2018. The program aimed at generating support for the Ethereum (ETH) Foundation received good backing from community users. Through only its second Charity Program, IoTeX managed to raise more than 140 Ethereum. This amount will be used to support the largest hackathon organizer developer community of China, Dora Hacks.

The Chinese hackathon organizer will reward the hackers with this amount to successfully complete the real-world blockchain projects and those associated with solving regular IoT problems confronted by the IoTeX team. The company will also donate IoT hardware devices to the hackers in the upcoming hackathons so that they can use it in their upcoming projects.

While talking about the company’s recent charity programs, the co-founder of IoTeX, Raullen Chai said that the amount generated through the first Charity Program was donated to the Ethereum Foundation as they are the pioneers who inspired innovation in the blockchain field and formation of companies like IoTeX.

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