IoTeX is developing a privacy-centric blockchain platform for the Internet of Things (IoT). Their decentralized network is designed to enable better cooperation and exchanges of data between devices, in a way that will be scalable and will protect the privacy concerns of users. The IoTeX network is currently powered by the Ethereum-based IOTX token.

SmartMesh is developing a blockchain-based protocol for the Internet of Things. SmartMesh has built-in blockchain light nodes, and extends the Raiden and Lightning Networks' second layer architecture network protocols. SmartMesh's blockchain-based network allows devices to communicate and make transactions without an internet connection. Users establish P2P connections when they are online, and are then able to transact with each other offline. Spectrum and Ozone, which are part of the SmarMesh network, are designed for developing decentralized applications.
The SMT token is used to reward the nodes that contribute computing resources to SmartMesh's network, and are also the medium of exchange for P2P transactions.