The blockchain industry’s potential to impact and change the world has been something that this technology has been offering since the day it was created. Originally, it served as a digital ledger where transactions were recorded in a chronological, transparent, and immutable way. However, over time, new use cases kept emerging, especially after the launch of Ethereum in 2015.
Originally, the attention was on the cryptocurrency aspect of the blockchain, but these days, following Ethereum’s launch and the revelation of what blockchain can do — cryptocurrencies became only one of the blockchain’s use cases, albeit also the first and oldest one. With blockchain technology being empowered with smart contracts, the developers started getting creative and developing various new products, features, and solutions, not only for the issues that were plaguing crypto and blockchain but also for other industries.
As more time passed, this creative use of blockchain spiked, and today, it can offer uses that have little to no connection to its original purpose, showing just how much potential this tech carries with it. One example of this is a project called MXC, or Machine eXchange Protocol, which seeks to create a network of supernodes around the world and use it to offer LPWAN coverage for all kinds of devices, allowing them to connect to one another and the broader blockchain sector, and easily transfer information.
How Does MXC (MXC) Work?
MXC is a WEb3 infrastructure designed to connect the real world and the digital one. The network uses a mechanism called Proof-of-Participation, and it combines it with its Supernodes, which are spread throughout the world. The project is 100% decentralized, and all Supernodes are being operated by the project’s users who chose to buy and stake its native MXC token.
With these supernodes, it can provide LPWAN coverage essentially anywhere in the world, and allow for the inclusion of pretty much any IoT or other device that deals in data sharing. One benefit of this is that it provides a reliable network for such data to use, and it ensures that it will always find its way to where it needs to go.
But, at the same time, it also reduces the pressure on the regular internet, as it removes big data that would otherwise need to travel this way.
What Problems Does MXC (MXC) Solve?
To put it simply, MXC is focusing on solving the problem of coverage for IoT and similar devices around the world.
LPWAN coverage for devices around the world
The first thing to note is that the project uses its decentralized infrastructure to provide Low Power Wide Access Network in combination with the Machine eXchange Protocol. This combination runs thanks to supernodes that are located all over the world and operated by the project’s community.
As such, it offers coverage for devices everywhere, even in areas where regular internet is not available, thus allowing these devices to work, collect data from the real world, and send it to one another, the internet, or even the blockchain itself.
Simplifying and increasing IoT data transactions
The IoT sector has grown a lot over the years, including all kinds of devices, from cameras to sensors, smart home appliances, and more. They are already being used to create smart homes all over the world, and there are efforts to step up their usage and create entire smart cities.
However, in order for this to be possible, they need to be in a constant connection to one another, and the connection needs to be reliable and solid. With constant data feeds between these devices, it would be possible to monitor any changes in the city, from the weather to water levels, air quality, and much, much more. This is why MXC aims to provide a network to allow such a connection, and a protocol to help transfer data. Smart cities are also only one example of data that needs this kind of simple transfer that can increase the usage of IoT and other devices.
It can also be used for increasing the use of AI, and have it completes tedious tasks, allowing people to make better, educated decisions regarding planning various business projects, construction projects, and much more.
Scalability
Finally, the network of supernodes that the project has to offer can also increase scalability and free open networks from having to transfer big data, which has been on the rise over the last several years.
Benefits of MXC (MXC)
Next, let’s take a look at what benefits this project has to offer to its users and investors. There are things such as:
Staking
If you choose to join this project and contribute to it by running supernodes on the network, you will need to engage in staking of MXC tokens. Doing so would allow you to earn passive income for your contribution, while the project would become more reliable and the data would travel faster, without interruptions, and other sorts of issues.
NFT management
The project also came up with the idea to involve the NFT sector in its efforts to revolutionize the way data is being transferred and shared. One of the uses of its MXC token is for NFT management.
Governance
Finally, since it is a decentralized project that has no singular authority to call all the shots, the project requires its community, which consists of MXC token holders, to participate in the governance process. This means that token holders need to vote on proposals regarding various changes and new implementations or to provide such proposals if they have ideas that could positively impact the project.
Bottom Line
Blockchain’s ability to adapt and work with any other technology is quite impressive, and it can certainly lead to some very interesting solutions. MXC aims to combine it with AI and IoT to make things like smart cities possible, and even more – quite easy to organize. Meanwhile, all that data required to keep an eye on the city’s aspects and processes would not burden the internet but would use its own network of supernodes to travel around, allow for devices to communicate, and for maintenance, researchers, scientists, and others to harness it and study it.
