The MXC (MXC) token is developed by the MXC foundation that strives to provide secure and swift transmission of data through a decentralized blockchain platform for businesses and individuals. Also, by letting people sell their data, the company gives them a chance to make money off the data they own.
To this end, the Meta X Connect (MXC) token supports the transactions that take place on the MXC network. As you can stake your MXC holdings for a passive income, this token provides investors with the possibility of acquiring a piece of the MXC blockchain network’s profits.
How MXC Works
The MXC blockchain network’s architecture is underpinned by the M2M technology, meaning there’s a Machine-to-Machine protocol that enables the transfer of automated data between the nodes that comprise the blockchain network.
Basically, the M2M Protocol transfers encrypted data between the computers participating in a blockchain transaction. These data transfers are facilitated by sophisticated software and hardware elements.
This is supposed to be a decentralized solution that anyone can employ to satisfy their own requirements or those of the market. The plug-and-play design of the hardware eliminates the need for expert configuration or technical expertise as it is designed to make it easy to set up and distribute data.
Through the M2M supported network, the machines (for instance: sensors, computers, satellites, etc.) are able to share data over a long distance at a low bit rate, similar to the battery-operated sensors.
When it comes to the MXC, the M2M Protocol comes into play by establishing a connection between the different wireless networks of long-range communications. Similar to the Wide Area Networks (or WAN) you probably use for your personal devices, these Low-Power WAN (LPWAN) networks are designed to support fast data transmission between two or more machines over a long distance only using much less power.
Next, the decentralized market supported by the MXC Protocol provides users access to all the crypto gateways and prices within the range of the network by coordinating them through the blockchain.
Finally, those users who have chosen a gateway and want to send data to another user through the network can do it instantly with the MXC Smart Bidding System, regardless of whether they are buyers or sellers.
What Is MXC Used For?
Meta X Connect is a token built on the ERC-20 standard of the Ethereum blockchain by the MXC Foundation. It’s a utility token of the MXC Protocol that facilitates the transactions and data transfers that take place on its native blockchain network.
You can also stake your MXC tokens on this blockchain and passively increase your earnings.
In fact, the members of the network and the Foundation both get a small share of the network fees the users pay when a transaction goes through the supernodes (i.e., the powerful data processors) of the token’s network.
More importantly, businesses or individuals can integrate the MXC protocol powered by the MXC token to develop a free, global, decentralized, and secure data network for their staff on the token’s native platform.
Where to Buy MXC?
This token is listed on around 20 cryptocurrency exchanges. Binance.US is the most popular among them.
How Long Has MXC Been Around?
The MXC token joined the long list of cryptocurrencies available for trade on the crypto market in January 2018.
Hardware engineers Sheen Xin Hu and Piotr Brzezinski founded the MXC initiative, while the marketing expert Aaron Wagener joined them later on. Hu acts as the company’s CEO, while Brzezinski is one of the company’s co-founders.
What’s Controversial About MXC?
Meta X Connect is a highly innovative project in the crypto industry that encompasses the ‘open economy’ concept, where everyone can establish a secure network to transfer all kinds of data and make cost-efficient crypto transactions powered.
To this end, there haven’t been any controversies surrounding this project until the present moment. On the contrary, this project seems to have a promising future.
How Many MXC Tokens Are There?
There’s a total supply of 2,664,965,800 MXC tokens.
Can MXC Be Mined?
In addition to Bitcoin and other cryptocurrencies, the MXC Protocol also supports the use of other tokens for mining payments to the network. The multiple tokens added to the network are meant to increase its stability and robustness.
Following is a list of the aims that MXC has defined for the construction of the LPWAN ecosystem:
- Reduce the number of times an M2 Pro Miner needs to be restarted in an area where there are already a lot of sensors connected to the network.
- Pay the M2 Pro Miners who fuel the networks their fair share of the network’s earnings.
- It should be possible for individual miners to select which results of the network validation they want to use to diversify their holdings.
- Handle all financial transactions in various currencies, and use the MXC token as both a utility and governance token.
Market Cap and Price History of MXC
According to CoinMarketCap, MXC’s current market cap amounts to approximately $51,808,849, making CoinMarketCap rank this token #412 among all listed cryptocurrencies.
Recently, the market price for one MXC token has been hovering around $0.01961, while the 24-hour trading volume is about $1,406,264.
Compared to its first official coin offering in 2017, when the MXC was worth less than a cent, the token experienced an admirable rise in value a few years after, reaching around $0.05436.
On the other hand, when it comes to predicting the future price of any cryptocurrency, you should take into consideration the extremely high volatility of these assets.
To this end, it’s advisable that you do your own comprehensive research on the market fluctuations and make an informed decision on your future investment before making any kind of financial commitment.
Biggest Competitors of MXC
The Internet-of-Things (IoT) tokens, such as IOTA (MIOTA) tokens, are MXC’s biggest competitors on the crypto market because all these tokens are trying to monetize on the ever-increasing volume of IoT data by powering new IoT solutions.
What Does the MXC Project Road Map Look Like?
Developers of this token hope to unite the cash-based global economy with the asset-based crypto market by harnessing the power of the LPWAN network, which is fast, secure, and cost-effective. Through this network, digital data transfers are streamlined, more reliable, and suited to the LPWAN sector.
With the help of the MXC Protocol, both individuals and businesses can obtain vital data that can improve their working operations. Instruments and sensors can collect data that can be used to ensure the validity of the gathered information. This type of data can boost the battery life of innumerable devices, thus extending their operational life.
Following the trends in the industry, the token’s Foundation plans on turning to Metaverse. This Metaverse is envisioned as a multi-token virtual ecosystem accepting many prominent cryptocurrencies where everyone interested could establish their own decentralized network.
Furthermore, by introducing NFTs into the Metaverse, the designers of this project intend to put the non-fungible tokens in the center of the ecosystem. Namely, the NFTs will provide token holders and community members with many new functionalities.
Pros and Cons of MXC
- Facilitates instantaneous real-time transitions through the token’s network;
- You can stake the tokens for additional income.
- It’s listed on a handful of exchanges.