The combination of blockchain and Internet of things (IoT) can be used to improve the quality of life by enhance the delivery of data.
Lets first take a Look at the concept of Smart City
Smart City
As per Wiki " A smart city is an urban area that uses different types of electronic Internet of things (IoT) sensors to collect data and then use these data to manage assets and resources efficiently. This includes data collected from citizens, devices, and assets that is processed and analyzed to monitor and manage traffic and transportation systems, power plants, water supply networks, waste management, crime detection,information systems, schools, libraries, hospitals, and other community services."
The backbone of any Smart City is the integration of information and communication technology (ICT) as well as seamless data transfer with various physical devices connected to the IoT network which optimize the efficiency of city operations and services and connect to citizens.
This is the part where MXC (MACHINE XCHANGE COIN) plays the crucial role.
MXC
The MXC Foundation is a Berlin based blockchain non-profit organization with the mission to inspire fast, efficient, decentralized data exchanges using LPWAN and Blockchain technology. MXC is designed as an infrastructure protocol for IoT network dedicated to the simplification and facilitation of IoT data transactions. With the launch of their “Smart City IoT Standard” the MX Protocol it is all set to solve the problem of LPWAN and bridges the data gap between different infrastructure.
LPWAN stands for Low Power Wide Access Network and allows long range communications at a low bit rate among connected objects e.g. sensors operated by a battery. The key facts of this technology are:
- a minimum of 10 year sensor battery life
- data reach of over 10 km (12.4 miles) with just a gateway
- a gateway can connect more than 60.000 connection points for a single network cell
The major uses of LPWAN market are the following two implementations:
- LoRa — defined by LoRa Alliance which is supported by firms like Cisco, Alibaba or IBM.
- NB-IoT — specified by 3GPP and it is focused on indoor coverage
As per the Whitepaper
“MXProtocol supports all LPWAN technologies, developed LoRaWAN Gateways, NB-IoT and LoRaWAN sensors.”
The above given figure shows how MXC will be working. All the sensor communications are bi-directional with a gateway which shares its data and receives some income in return. All the the gateways are connected to each other to form a interlinking network. The decentralized and autonomous LPWAN, which as act a connection point between the gateways, can be built on any permissionless blockchain. All the received data are then sold to data consumers.
With the help of the above said MXProtocol , MXC will automate M2M (Machine-to-Machine transactions) via connecting LPWAN gateways in a decentralised network and is developing an inter-chain data market for data providers (sensors) and consumers.
What make MXC apart from other projects ?
For me MXC is the IoTA killer. If you look at MXC, its relatively a very young project with its ICO during the last quarter of 2018. Even being just 1 year into the market they have been making positive strides with their meticulous strategy that has seen them rise through the ranks . Compared to IOTA, MXC’s has made more impact especially with the Smart City partnership with New York , China as well as South Korea.
If you look at both IOTA and MXC, Both of them provide similar services which is exchange of data and connectivity. But if you look at all the recent news, MXC’s services are more appealing due to their progressive thinking and unique offerings. It also has to be noted that most of the developed countries government are taking more interested in MXC offering which shows the strength of its product offering and innovative solutions to the data sharing problem that presently exists.
Conclusion
MXC has risen steadily over the few months it has been in operation. One of the biggest advantage of MXC is that it’s not tied with a specific blockchain, which solves the current pain points to some extent and wins it enormous market space. This can be attributed to proper planning and a smart work ethic by the team behind this revolutionary technology. IOT is the next big thing and MXC is here to lead