When LoRaWAN was introduced to the world in June 2015, it had so much potential. It allows for cheaper and long range connectivity between IoT devices and the potential use cases for that is endless. See it's like this, current technologies are quite limited, for example standard WiFi has a range of 100 metres only. While 3G and 4G technologies generally offer longer ranges they also tend to consume a whole lot of power which reduces a device's battery life which raises maintenance costs. MXC's LPWAN technology fixes both of these issues really well.
As years go by and the world becomes more and more connected. The world isn't just becoming more digitised, it's also becoming more and more automated. It's actually pretty evident. I mean with the explosion of smart home devices like the Amazon echo or the Google home and the industry wide introduction of smart assistants like Bixby or Siri. We've even seen some big companies introduce very futuristic self-driving cars. And i am all for it!
IoT can be defined as a network of devices; cars to home accessories to basically any device that contains sensors, softwares, actuators and connectivity that allows these products to talk to, connect and exchange data with each other and it has some amazing real life use cases from something as big as 'powering' smart cities to something more personal like accurately predicting a disease and helping you prevent it. Although IoT has enourmous potential, it still has some work to do, some issues it needs to fix.
It's biggest issue being it needs help overcoming the issues it has with connectivity. See currently IoT depends on a centralized server-client model to connect with the different devices, servers, gateways and systems within the network, and while this process has worked quite efficiently - it would fail especially if the numbers of devices in network increases, of which it will. MXC understands that users now can't stand lags and having bottlenecks with regards to IoT connectivity, it's efficiency and performance would hinder any progress IoT needs to make for the future.
This is why MXC is implementing blockchain for a decentralized model, that's not just cheaper to process but more efficient. For instance, by using LPWAN technology, MXC can guarantee a twenty-kilometre reach with just one single gateway, as compared to Wi-Fi's 100-metre reach and a 10 year battery life. With MXProtocol installing hardwares is as easy as one two three, allowing the LPWAN Gateways to form a mesh network. This system makes communication more seamless because all of it happens in a bi-directional manner.
LPWAN has one major flaw. Packet Collision. Collisions between different competing networks is a huge problem cause network outages and sometimes data loss. MXC's LPWAN technology has been modified to fix this problem, it does this by choosing the preferences. When two networks use the same channel to transmit a message at the same exact time they normally leave another channel empty this makes it hard or the networks to reach a consensus with causes deployment to suffer.
MXProtocol fixes this issues by coordinating the different participating networks, coordinating about the downlink and uplink statuses and giving preference to important messages and vice versa. To make this happen it uses permissions, community based consensus and a deployment permission etiquette. Thanks to smart bidding, users can also pay for extra resources, meaning they can pay to pause a downlink channel just in time to get their message across.
And thanks to MXC's Asset-backed securitization, businesses and individuals can much easily see and manage their data and physical assets. Using the same platform businesses and individuals can still track their goods and data to ensure none of it is stolen or corrupted by untrusted parties. This method will prove useful where security is concerned while also also providing companies with the right tools to discover better insights regarding consumer behaviour.
MXC's vision is that much closer to reality because they have already attained their hard cap target of $40 million and even though you may have missed out on the ICO, users can still participate on the company's content bount until October 31st 2018 for extra tokens. You can learn more about that here
I'm also linking a few extra resources you can check out in your free time.
To Subscribe to MXC MXC Website:
To Chat with MXC on MXC Telegram Group:
Also...
MXC Website:
MXC Telegram Group:
Economic Whitepaper
Technical whitepaper
Twitter
Medium
Thank you for reading.
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