What Is Machine Xchange Coin?
Machine Xchange Coin (MXC) is a decentralized technological “Data Trade Network” specifically designed for the Token economy. The blockchain based platform aims at revolutionizing the functions of lending, sending, and spending.
The network automates machine-to-machine (M2M) transactions and enables data sharing on large scale while ensuring there is complete privacy for the users. MXC aims at mass adoption among data owners, data receivers and data network hosts which will drive towards the coin being used in day-to-day transactions.
How Machine Xchange Coin Blockchain IoT Global Data Network Works
Machine Xchange Coin will implement the sharing economy to enable large businesses, SMEs, and individuals to rent or borrow assets that are owned by other users. Similarly, individuals can benefit from their locations and their decentralized LoRaWAN network through placing the LoRa-based protocol hardware in suitable locations.
For example, businesses can create a sharing economy by using the individual’s network to send sensor or device data. Businesses will then pay the owners of the network by depositing coins into their wallets. The coins can also be traded from the sensor holders addressed by MXProtocol to the gateway distributor. The MXProtocol acts as an incentive to encourage participants to use or trade their networks. The protocol is more secure and does not face scalability issues.
MXC utilizes the Asset-Backed Securitization (ABS) to provide a new way for companies and individuals to trade and manage physical assets. The ABS will also enable users to track both goods and data, which ensures that only the intended receiver of the goods and data has access and that it has originated from a reliable source.
Machine Xchange Coin Benefits
Assisted Garbage Collection
MXC will have sensor or end devices that can be attached to garbage cans so that they transmit data to the city council alerting them when the cans are full. This saves on fuel as the city council only sends tracks when necessary, saves on wages and reduces the congestion caused by garbage trucks.
The MXC LPWAN enables car-sharing companies to track their cars without necessarily using the existing telecommunication companies since they will have their own independent network. This reduces the cost, as they will be free from the exorbitant prices charges by the telecommunication companies.
MXC will utilize device data sensors, MXC IoT solutions, and the MXProtocol to enable cities become smarter cities through delivering efficient, low-power device data sharing over longer distances in a more accurate and cost effective manner.
Through the MXC tech services, data can be constantly monitored to enable sorting and categorization of data sent through the MXProtocol. This leads towards smarter cities since planning and traffic allocation in the cities will be more efficiently, which reduces the challenges the city is facing.
The implementation of this technology in the MXC ensures unique data allocations. It also ensures that users send and receive data on time based on various factors such as data speed, size, distance, price, and necessity, which increase the efficiency of data.