MXC

About MXC

MXC is a digital currency platform that leverages the Low Power Wide Area Network (LPWAN) and its proprietary Machine eXchange Protocol (MXProtocol). This infrastructure establishes a robust network of devices, leading to the introduction of a distinct cryptocurrency known as Machine exchange Coin (MXC). The platform facilitates extra data exchanges in the expansive data marketplace. LPWAN represents a type of wireless network technology designed to link devices with low power requirements and limited bandwidth, supporting low data rate transmissions.

MXC Foundation

Established in 2018, the MXC Foundation focuses on fostering a worldwide environment for IoT data exchange and value creation. It has crafted a suite of protocols and instruments that empower developers to construct apps using the MXC infrastructure. Key components include the MXProtocol for secure device communication, the MXChain for safe digital asset management and exchange, and the MXToken, which rewards network contributors with resources or services.

The foundation collaborates with tech giants like Microsoft, Huawei, and Qualcomm to enhance its ecosystem. It has also initiated programs like the Global Accelerator Program to support startups in leveraging the MXC protocol for their ventures.

MXC is dedicated to maintaining an open-source ecosystem that enables global developers to devise innovative IoT connectivity solutions. Through blockchain technology, MXC aims to transform human-machine interaction and unlock new possibilities for industries worldwide.

How does MXC Work?

The MXProtocol underpins MXC’s operation, aiming to foster a cross-chain data marketplace while minimizing network congestion. Its strategy includes developing a network coverage market and setting up a service quality framework for data participants. This initiative marks a pioneering effort to unify individuals, businesses, and large entities in establishing a global, decentralized LPWAN network. Participants in the network can potentially gain and trade MXC by connecting various entities to it.

MXC acts as a utility token within the MXC Supernode network, facilitating device-based transactions. Through staking, community members can earn a share of the profits generated by these Supernodes, which are pivotal network nodes that manage data transmission and connectivity for users.

As a decentralized global token, MXC presents a novel network designed for exchanging data, ensuring wide-ranging data sharing with strict privacy. It aims to serve data originators, recipients, and network providers, blending the functionalities of a commodity token with a regular trading currency.

The MXC community benefits from staking, gaining profits from the Supernode operations. These profits are distributed among Supernode operators, stakers, and the MXC Foundation, which all receive a portion of the network fees generated through Supernode activities.

How Is MXC Helping To Build Smart Cities?

MXC is at the forefront of advancing smart city development through its innovative use of data transmission. This involves ensuring data ownership security and mitigating fire hazards, notably in Australia, through a collaboration with Match X, the developers behind MXC’s M2 Pro Miner, as well as its cameras and sensors.

MXC employs sensors to collect data on key metrics like shopping center traffic, parking availability, and more. These sensors and cameras facilitate machine-to-machine (M2M) communication, enabling the automatic validation of potential threats. For instance, MXC’s cameras are instrumental in assessing fire severity by analyzing footage from various perspectives, or predicting fire outbreaks by spotting smoke and flames in wooded areas.

Moreover, these devices play a critical role in traffic management by detecting road incidents and communicating this data to initiate a smart contract, thereby adjusting traffic flow to reduce congestion. This seamless integration of automated cameras and sensors represents a significant advancement in the evolution of smart cities.

Problems and Challenges

While MXC is positioning itself as a leader in the smart cities revolution, its technology raises several concerns:

Data Ownership: The MXC Foundation assures that no data persists on their LPWAN gateways, yet the ownership question arises when considering the extensive data collection through their sensors and cameras. As MXC plans to deploy sensors globally to aid smart city development, this data becomes accessible to various entities, including academic and research bodies, and MXC itself. Despite MXC’s intent to empower data owners, often it appears that MXC itself might retain ownership.

Automation Reliability: Automated systems for emergency responses, like fire detection or accident alerting, have faced challenges. For instance, the implementation of smart highways in the UK was halted due to a rise in fatalities linked to traffic rerouting problems.

Network Reach: The 30km range of MXC’s M2 Pro Miners, while substantial, necessitates widespread adoption to significantly impact global data transmission. Although MXC boasts nearly complete coverage in the Netherlands, the effectiveness and scalability of such a network globally remain questionable, given the small geographical size of the Netherlands compared to larger territories.