IoT is the future, you probably have heard that many times before. And like it or not, it's true. At least, you can say that IoT will become a major technology in the near future. More and more device are being equipped with the ability to interact with each other via network/internet, producing millions of data per seconds which in turn create a demand for a new network protocol. With the power of cryptocurrency and blockchain, MXC is going to revolutionize and lay the foundation of the future IoT networks, bringing decentralization, transparency, and profits for every stakeholder involved in it.
What kind of problems that they solved and how they do it, and why do I like this project? You can find out below!
MXC, LPWAN and IoT
One of the most important problems that MXC wanted to solve is the 'governance' in the world of communications between 'things'. By governance, I mean the mechanism to decide which data is being prioritized and which one doesn't when there is a heavy traffic on the network. To understand why such problems happen then we have to take a step back and learn a little bit about the new kind of network and or networking device of the next generation: LPWAN.
LPWAN stands for Low Power Wide Area Network. Just as it names suggest, this is a network channel which requires a very low energy consumption but has a wide area that could be covered. It only requires less than 1% of Wi-Fi device energy consumption, but it can last for years, some even said for 10 years and covers up to kilometers. It is expected that LPWAN network will connect more than millions of device by 2023, which is very promising technology that can help business or customers who use IoT (not necessarily smartphone, but any IoT) reduce the rate of energy consumption and save a lot of power while maintaining. Simply put, using LPWAN will bring a major breakthrough on the IoT network.
LPWAN Market Analysis by IoT Analytics. Source: IoT Analytics
Even though LPWAN is eco-friendly and pretty much can provide a reliable networking channel for devices to communicate to with each other, but the network itself will be overcrowded with a lot of data from IoT. The probability of data collision will increase especially if you're in a smart city where almost every corner has it owns IoT, like a device to calculate the air, humidity, speed of the wind and so on. The possibility of data collision is incredibly high, and because of that, we need a protocol to set rules on how to manage this data flow.
Here's where MXC comes in. MXC is going to provide a protocol to manage the data flow of this network. Data owner will be able to request their data to be sent first by the network by paying MXC coins toward the LPWAN gateway provider. At that moment, the network will stop sending other data to make sure that the data got first at the destination, and when it finishes, the traffic will resume as usual. Won't it be slower if there's something like this? No, everything can happen in a millisecond, therefore users won't realize the difference.
MXC Smart Bidding. Source: MXC Technical Whitepaper
Not only that, but MXC will also provide a marketplace for data and also provide a necessary solution to make devices connected to the best LPWAN gateway that is available. I won't touch the technical details too much, you can read it by yourself on their technical whitepaper. To put it simply, there will be a data marketplace to buy or sell data that is connected from the LPWAN gateway, and the only one who can do this is the LPWAN gateway owner itself.
From my point of view, another MXC strong point is that they already have established partnerships (according to them) who can give a patch on their LPWAN device to implement MXProtocol on the go. So, the implementation of the protocol is just around the corner. When the protocol is fully functional, the demand for MXC will increase especially if the customers wanted to have their data to be prioritized by the network.
Government or business of 'smart cities' or those who wanted to develop their city/area with IoT, will likely find that MXC protocol will be one of the cities foundations. With MXC, they can build their smart cities, allowing every device in their cities to communicate easily, securely, with just a tiny power for years.
Potential Risk
Even though MXC is quite good, there is something that I think might be some risk when you decide to contribute in their initial coin offering. One of them is the long roadmap before every product can be implemented. According to the business whitepaper, you must wait at least 3 years from 2018 (assuming it doesn't get changed). So, we have to wait patiently before we can sell or buy data from the LPWAN gateway and for contributors to gain the most profits. The demand of MXC, is, of course, won't be high (depends on what you're comparing with). However, I think as long as the protocol is massively adopted by many users, it will eventually increase the price.
MXC Roadmap. Source: MXC Economic Whitepaper
Another thing that you should consider to understand is that most coins are locked except the public sale. So, there is a risk of the dump when those tokens are being unlocked and some contributors wanted to liquidate their profits. However, if there are enough adoption and demand from the market, maybe the price won't dump that much. If you're a long-term holder, I think this is not a big risk to take, as you're probably waiting for 5 years before finally decide whether to sell your coins or not. So that's what you should consider (of course there are more factors that you have to calculate, consult with your own financial advisor) before joining their public sale (which by the way, at the moment I'm writing this article was already 89% done).
Bottom Line
MXC might be the future LPWAN protocol that is massively adopted by many countries or cities. Their protocol is important for LPWAN, which will probably become the next network protocol, replacing traditional Wi-Fi or other networks that have high energy consumption and small coverage. LPWAN is the future for IoT devices, and MXC will be the protocol that makes it happens. Because of this, you should watch this project closely. Ask further about MXC on their Telegram group!
Additional important links that you should check out:
MXC Website: https://mxc.news/2RQefYw
MXC Telegram Group: https://mxc.news/2QLdkqSr
This article is not a financial recommendation. The author, MXC and other parties mentioned in this article is a separate entity. The author writes this article based on his own understanding of MXC. Readers should read the original document of MXC by themselves. The author shouldn't be responsible for any actions taken by the readers, including but not limited to: joining the MXC bounty program, participate in the MXC token sale, and etc.
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