MXC cryptocurrency is one of the projects that use the Polkadot blockchain, which tries to present a solution that makes machine data accessible to anyone. This is the infrastructure for Web3 to connect the real world with Metaverse.
MXC is priced at the time of writing at $0.11028, an all-time high at $0.1346, with an ROI of 1325.13%. The total market capitalization reached $270,519,646. The circulating supply of MXC tokens has reached 99% or 2.64 billion MXC, from a maximum supply of 2,664,965,800.
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What is MXC cryptocurrency?
MXC stands for Machine eXchange Coin, which is a project built in collaboration with the Polkadot ecosystem, aiming to simplify IoT(Internet of Things).
MXC cryptocurrency seeks to build the future of IoT by developing a global network where devices can interact. With the support of decentralized infrastructure, the MXC system has two important elements called the Low Power Wide Access Network (LPWAN) and the Machine eXchange.Protocol (MXProtocol).
With MXC it is possible to increase data transactions in a giant data market.
MXProtocol in the MXC system focuses on reducing collisions between networks, building an inter-chain data market. For data providers and recipients with introduced the Quality of Services (QoS) framework.
In this system, all users, both individual and corporate networks, can participate in building decentralization, to secure the LPWAN. Simply by connecting “anything” to the network, adapters make it possible to profit and trade MXC.
MXC foundation
The MXC Foundation is the organization that builds the MXC. The founders of this foundation are Xin Sheen Hu serving as CEO, Aaron Wagener serving as COO, and Piotr Brzezinski serving as CTO.
Besides them the founders of the MXC Foundation, in the team there are twelve other people currently working on developing MXC.
The team members are Jakub Chmielarz as Software Engineer, Kirill Krupin as BD Manager, Lixuan Jia as Software Engineer, Luke Schön as Senior Blockchain Developer, Michelle Yang as Community Manager, Namgyeong Cho as Software Engineer, Pavel Shaydo as Lead Backend Developer, Raphael Liao as BD Manager, Siwon Kim as BD Manager, Stefan Bachmann QA Engineer, Stephane Letz on Graphic/Video and Suhee Lee served as Product Designer.
How does MXC work?
MXC seeks to bring the future of IoT to be better by offering the MXC coin which stands for Machine eXchange Coin. An important concept in this system is the Low Power Wide Access Network (LPWAN) which allows devices to connect to the internet and interact with all devices. It uses a wireless connection to link each electronic device.
Another part of the MXC system is the Machine eXchange Protocol or abbreviated MXProtocol. This protocol prevents data collisions, establishing an interchain data market.
MXC network trading uses the premise of a sharing economy, where users can monetize profits in two ways:
- Increase uplink and downlink coverage through Gateway.
- By opening up access to a huge network of published and traded data to a market that is traded securely using blockchain technology.
Both methods are connected to Quality of Service (QoS) which then allows being ability to unlock the door, or can also shut down the computer.
MXC token
MXC is an online utility token, which is an ERC-20 token. The maximum supply of MXC tokens is 2.6 billion minted in genesis. This token is used for equipment transactions through the Supernode network.
Both individual and enterprise users purchase MXC to get LPWAN and Satellite miners services. n short, some of the functions of the MXC utility token are described as follows:
- Become a Device Provider for free open wireless networks.
- Running supernodes on the network by staking MXC tokens.
- Manage NFT.
- For mining from LPWAN and Satellite networks.
- AI services manage the governance voice to determine how network resources are allocated.
MXC Supernode
MXC Supernodes are machines or hosts behind a decentralized data platform that powers both transactions and data transfers.
This is the engine that works behind the MXC’s data platform, where each Supernode is a LoRaWan server equipped with 2 wallet engines (M2M wallet).
LoRaWan is open source from the LoRa Alliance, which has received support from giants such as Cisco, Alibaba, Comcast, IBM, and SK Telecom.
The supernode supports a data stream that acts as a relay between the sensor and its owner. Currently, there are seven Supernodes in MCX, namely XY Pool, Matchx, Huawei, EnLink, Sejong Solutech, DU IoT, and Huobi Pool.
Thanks to this Supernode can trade MXC for lightning-fast contour payments. All data belongs to the owner, and Supernode does not store any data because it uses end-to-end encryption.
MXC holders can have voting rights, by uploading MXC to Supernode and engaging can trade MXC.
Datadash
Datadash is an application developed by the MXC foundation that allows using this application to be one place shopping where in this application one can manage several important functions.
- Mining. Allows users to mine multitudes of IoT data and cryptocurrencies, such as Bitcoin, MXC, IPFS, and DataHighway tokens, offering unprecedented speeds.
- Staking. Using the Datadash app it is also possible to stake tokens powered by the Supernode network.
- Data tracking. With the Datadash application which is an innovation from the MXC Foundation, it is possible to track IoT data because MXC has a vision of the future of IoT.
The Datadash application is available for download on smartphones running Android and Apple operating systems. To download the app is available on Google Play Store for Android, and App Store for iOS.
LPWAN Server
To enable LPWAN, requires a server including LoRaWan, 3GPP or Sigfox. The MXC LPWAN server currently has support from seven servers, namely: MatchX, Huwaei Tech, EnLink, XY pool, Sejong Solutech, DU IoT, and Huobi Pool.
Each server has a different address:
- MatchX is accessed via https://lora.supernode.matchx.io/.
- Huwaei Tech via https://lora.hunanhuaweikeji.com/.
- EnLink server via https://lora.rosanetworks.com/.
- XY Pool via https://mxcxy.com/.
- Sejong Solutech via https://k-supernode.com/.
- DU IoT via https://supernode.iot-dkataital.net/.
- Huobi Pool via https://ussn.matchx.io/.
The location of each server with different geolocation allows differences in speed to access the network.
MXC and Polkadot
MXC has partnered with Polkadot to build the future para chain of IoT. Develop multiple data chains. Enables Polkadot to carry M2 pro and multichain multi-token mining networks.
Referring to MXC’s Medium blog, the development team is thinking about enabling DOT mining with M2 pro with the concept summarized as follows:
- Devices and sensors encrypt IoT data on data blocks.
- Data block added to MXProtocol.
- M2 miner pro mines block data and retrieve encrypted IoT data.
- The encrypted IoT data is validated to prove authentication.
- Validated IoT data sent to recipients and purchasers.
- Purchaser pays for data to the original data source.
- Payments with MXC will be forwarded to the MXProtocol and given to the miners.
In the seventh step, miners receive MXC tokens, while the concept allows M2 pro miners to receive DOT by changing the seventh step.
The planned concept is to set aside MXC in the seventh step in the collateralization phase and leave the rest on the M2 pro network.
Then in the collateralization phase, MXC entered into arbitrage with DOT. In this phase, DOT is included in the MXC and Polkadot networks for staking.
The concept of this collaboration is still in the development stage and the status is announced.
Partner with Edgeware, it has the support of 16 investors: Fenbushi Capital, Pre Angel, Node Capital, Cyrcle fund, IOSG venture, Black Edge capital, Block Asset, as well as Biznatyne partner, Fenbushi digital, Hive Chain labs, Mainnet capital, Oneboat capital, Python capital, SevenX ventures, and Wandarin.
Is MXC a good investment?.
Fundamentally, the concept offered by MXC wants to rapidly develop IoT for the future and deliver all the sweet promises.
Maybe MXC is a good investment because there are still opportunities for IoT development to unite devices and the internet for something that is useful for many people.
Meanwhile, based on the history of the MXC price, we see an upward trend in the price of this token.
The lowest price formed on December 4, 2019, at the price level of $0.001232, and the highest price formed on January 19, 2022, at the level of $0.1346. MXC ROI has reached 1363.81%, of the token’s value since it was first launched.
However, crypto assets are subject to high price fluctuations, the volatility that occurs in demand and supply in addition to increasing potential returns is also risk.
Investors need to do further research if they want to invest in MXC, and it is advisable to only spend funds that are prepared to take risks.
How to buy MXC?
Some important tips when buying cryptocurrency digital assets that you might have missed that are actually useful are. Avoiding FOMO (Fear Of Missing Out), conducting research for fundamental and technical-based analysis approaches.
Looking at the founders and developers, the reputation and time experience of members give better value. And finally, choose a reputed exchange that allows secure transactions.
Found exchange and compare
Each exchange may have different policies regarding trading fees, supported payment methods, security features, and ease of use.
Find an exchange that supports MXC then compare them with each other to choose the one that fits your needs.
Create account
The centralized exchanges usually need to register first to get started. This requires correct data, email address, and maybe also a mobile number depending on how to register available.
Verify account
The centralized exchanges usually need to register first before starting. This requires correct data, email address, and maybe also a mobile number depending on how to register available.
On decentralized exchanges usually by connecting a crypto wallet to begin. Verify account uses to shifted limit transaction usually.
Funds account
Once logged in to the exchange account, then select the payment method by which the user can fund their account. bank transfer, SEPA, Credit Card, Paypal, etc, and choose the suits one. Different exchanges may have different payment methods supported.
Purchasing MXC
Through the MXC dashboard, go to the market and find the MXC coin. Write in the search box if available by typing MXC to search.
If support instant buy, you can directly buy using flat currency. But if the MXC is trading with another asset, say USDT, then first you need to convert your fiat money to USDT.
Storing MXC
Investors or traders buying MXC for the long term may be too risky to store MXC in exchange wallets. Vulnerabilities to hacking can occur from studying hacking cases on some exchanges.
MXC storage is more secure on cold wallets or hardware wallets that indirectly connect to the internet. It may be more expensive to buy the device. But it is much safer to store a large number of crypto assets in funds.
Where to buy MXC?
The development team may still be working on adding MXC to the exchange. But nowadays some exchanges already support MXC.
OKX
Using a web-based trading platform, OKX provides the MXC/USDT crypto-asset trading pair. You must have a certain amount of USDT to buy MXC on this exchange. If you don’t have USDT funds, you have to buy USDT first or transfer from another wallet.
Digifinex
Digifinex, this digital asset derivatives exchange also provides MXC paired with USDT. The transaction volume of this exchange reached 2.6 billion USD as of today.
Huobi global
Huobi Global, is a digital asset derivatives exchange, which currently has a transaction value of nearly 2 billion USD. With a web-based platform, you can find MXC paired with BTC and USDT.
Hotcoin global
Global Hotcoin, an exchange headquartered in Australia, owned by Hot Block Chain Technology Co.Ltd and licensed by ASTRAC. On the trading platform this exchange provides MXC with USDT pairs.
BitHumb
For Korean people, BitHumb exchange is already very popular, users can buy MXC with KRW which is Korean currency. Global users, on the other hand, can buy MXC on BitHumb Global, where users can buy MXC with USDT and BTC.
Gate.io
The Gate.io exchange has become a well-known exchange. On this exchange you can buy MXC using other crypto assets that support USDT, ETH and BTC.
Bibox
Although not as popular as Gate.io, you can find on this exchange which has offices in Singapore and New York. Founds in 2017 for MXC with the USDT pair.
MXC price prediction
Digitalcoinprice. Although MXC cryptocurrency not expects to reach $ 1, but overall from the series of forecasts, the price of MXC tends to increase gradually from year to year with the final forecast in 2031 the average price of $ 0.55 with a high of $ 0.58.
Gov Capital. MXC cryptocurrency is an asset that has a good portfolio in the future, forecasting a year from 2023 the price of MXC will reach $0.31, and in five years it will be worth $2.03.
Price prediction. Forecast MXC cryptocurrency expect to increase periodically from year to year with the last forecast in 2031 MXC price can reach a minimum price of $ 4.38, an average price of $ 4.50 and a high of $ 5.17.
Technewsleader. MXC cryptocurrency is an asset that in the forecast has a price that tends to increase from year to year. In the forecast for the next year in 2023, the MXC price will reach $0.19, while the forecast for 2027 or the next five years will reach $0.61 and for the next ten years it will reach $3.89.
Final thought
IoT in the future may still continue to grow and innovate. The emerging cryptocurrency MXC cryptocurrency brings solutions for the future of IoT providing new hope that is still possible to develop.
Judging from the performance of the token with increasing value, it is possible that MXC cryptocurrency still has the potential to be a profitable digital asset. It also has the support of several forecasting sites that rate MXC as a good investment for the future.
Note: this article is for informational purposes only. This is not advice or a solicitation of investment. Crypto assets and forex CFDs are risky. Every investor is responsible for their investment.
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