The MXC vision is to introduce a systematic process to both simplify and increase IoT data transactions.
The decentralized infrastructure upon which MXC’s system is based is the future of Low Power Wide Access Network (LPWAN) and the Machine eXchange Protocol (MXProtocol). Utilizing this solid device network foundation, MXC is introducing an extraordinarily unique coin offering, Machine eXchange Coin (MXC), which allows for increased data transactions and an idiosyncratic data flow monetization within the mammoth data market.
MXProtocol places a keen focus on reducing collision between networks, constructing an inter-chain data market, developing a market for network coverage and introducing an independent Quality of Services (QoS) framework for both data providers and receivers. For the first time ever, individual network users, corporations and enterprises can all participate in the construction of decentralized, ubiquitous and secure LPWAN. Simply by connecting “anything” to the network, adopters will be able to profit and trade MXC.
The trading network is built on the premise of the “sharing economy.” Therefore, it is uniquely and exclusively owned by users — both individuals and enterprises — who take advantage of the monetization of the network in two ways: 1. By increasing uplink and downlink coverage via a Gateway, e.g. a MatchBox LPWAN Gateway, Cisco LPWAN Gateway
2. By unleashing access to a massive network of published and traded data to the marketplace which is securely traded using blockchain technology 5 Both sensors and connected devices bid (via the integrated QoS) for the downlink network resource to, for example, unlock a door or, alternatively, shut down a faulty radiator, subsequently offering a market-devised price for the uncovered regions. This ultimately increases data network coverage. “Things” can autonomously pay each other with MXC tokens and get accredited by sharing the data with different users/marketplaces.
There has been a phenomenal increase in the sourcing, collection and transmission of big data within the past five years. Additionally, the increasing use of artificial intelligence feeding off this data has assisted people to simplify tedious tasks and to make better informed decisions on everything from projecting a weather forecast, to saving household energy, to even choosing the right music to play at home. The tone has now been set for decades to come. Machines interacting with one another has seen a significant increase over such a short period. This will only increase as our interdependency on machines and machine learning grows and becomes ever more significant in day to day life.
Whether for individuals or big companies, the need for a specified network concentrating on machines and machine data is here to stay. It will play a bigger part in supporting both individuals and businesses than ever before. MXProtocol introduces the next generation of LPWAN with a superior IoT data platform and a premium network experience, allowing for a simplified and expedited way to create a secure and efficient solution for IoT.
The following sections elaborate on the unique advantages of MXProtocol, including its components — permissionless blockchain, Smart Bidding, Anti-Collision Coordinator and Inter-Chain Data Market — that make it a truly innovative technology.MX Token Whitepaper