The Internet of Things (IoT) is growing with the advancing digitization and automation in the world. But some analysts believe that only adopting IoT cannot provide a solution to the problems until it is combined with the other technologies for open innovation.
MXC (MXC) is one such company that combines IoT and blockchain technology. The MXC crypto appeared to be gaining attention on Friday morning as the market recovered three days after declining continuously.
What Is MXC?
Launched in 2018, it is a Web3.0 infrastructure designed to connect the real-world and metaverse. MXC is building a global data network enabling future devices to connect, commit and communicate more efficiently.
Individuals, companies, and cities can benefit by building or using the network to transmit and manage their data.
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MXC’s Supernodes provide global geolocation-based Low Power Wide Access Network (LPWAN) device coverage. The network runs on the Proof-of-Participation (PoP) mechanism with Supernodes which offer scalability and free open networks.
Its vision is to provide a systematic process to simplify and increase IoT data transactions. MXC system is based on LPWAN and PXProtocol, the Machine eXchange Protocol.
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According to its whitepaper, through MXC, individual network users, corporations and others can participate in the construction of decentralized, ubiquitous, and secure LPWAN by just connecting “anything” to the network.
MXC miners mine MXC and various other tokens in their mining journey through the Multi-Token Mining experience. The community members can also stake their tokens to share the Supernodes profits.
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Data Source: coinmarketcap.com
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MXC Token:
MXC is an ERC-20 native utility token. It is used for provisioning devices for a free open wireless network, running Supernodes via staking MXC tokens, NFT management, mining from the LPWAN and Satellite networks, and governance votes.
MXC (MXC) token rose 3.25% to US$0.1098 at 5:06 am ET, Friday. Its trading volume soared 18.91% in the last 24 hours to US$19.08 million.
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OKX, DigiFinex, AEX, HotBit, Crypto.com Exchange, Bithumb Global, Phemex, and KuCoin are some crypto exchanges where one can trade the MXC token.
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Bottom line:
Once the technologies like AI, Machine Learning, IoT, and Blockchain have been invented, they are only to be included in commonplace each coming day. However, the technology evolves; the projects should be chosen after performing due diligence as the crypto market is volatile and prone to scams and hacking.
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