MXC : A New Era Of Decentralised Global IoT Data Network
Impact of current internet infrastructure on device connectivity
We indeed are lucky to not just witness, but be a part of the foremost generation of a now digital dispensation. The internet has been the backbone of the existence and development of many industries, creating positive impacts on lives through seamless transfer of information. That it is an agent of change doesn't however make it resistant to change itself, as it has undergone major changes over the years in order to create more features and generally improve user experience but sadly, at a cost - accessibility/speed.
Think about it for a second; some years back, all the internet offered was access to information through webpages containing texts and images. Today, internet demands has vastly increased, and is still on the rise. Often times, we need to stream live events, hold live conferences, play online games etc but sadly, service provides struggle evidently to deliver service quality to match demands. Here's an extract to further buttress my point:
Having briefly discussed about the current state of internet infrastructure, let us broaden the picture by introducing the Internet of Things (IoT) concept. Nowadays, we may want to establish a communication between our devices and appliances in such a way that they can "interact" with one another and possibly, interface them with our handheld so as to operate them from anywhere, via the internet. This, in a nutshell basically forms the rationale behind IoT. The current state of internet infrastructure has raised question marks as regards the efficiency of IoT, especially since more and more devices are seeking to connect, and stats predict global internet traffic will experience a major upsurge from the 26,000gb/s it was in 2016 to a mind blowing 105000gb/s. This daring stats brings rather familiar questions to mind; are we prepared for yet another "internet boom" devised by IoT?, are resources being put in place to facilitate uninterrupted device connectivity ? Is there a platform seeking to improve existing solutions to ensure seamless device connectivity without having to suffer the tailbacks of speed and accessibility ?
Turns out there is!. Introducing.....
The MXC vision is to introduce a systematic process to both simplify and increase IoT data transactions | Source
Before I go on to give my personal analysis on MXC based on my findings through intense study of both the economic and technical papers, I'd like you to watch this brief introductory video from MXC's YouTube to help ease understanding.
Redefining IoT data transactions with MXC
Cost per downlink: This is the cost required or incurred when the LPWAN gateway establishes a connection with ground stations or receiver. The lower the cost per downlink, the higher the gateway's chances of being assigned.
Signal quality: This is a measure of connection strength.
Availability: LPWANs need to be readily available, I.e they must possess a near 24/7 uptime.
MXC influential algorithmic factors: These are complex mathematical algorithms that are used to determine suitable LPWANs to allocate network resources.
The MXProtocol is the complementary technology saddled with the responsibility of setting up a reliable governance model/concensus that not only facilitates value transfers for purchased services but also ensures maximum efficiency and high system performance by reducing network collision to the barest minimum, thus, birthing a data market of interconnected chains.
Technical Overview of the MXProtocol Stack
Below is an image of the MXProtocol Stack framework.This section will briefly describe some of it's core components to the comprehension of even the non tech-savvy. If you want a more in-depth review on the technical aspects of this project, you can download and read the MXC's technical paper
Smart bidding: For a successful LPWAN deployment, network resources have to be correctly and efficiency allocated and this is why the need for bidding arises. The highest bidding gateway is often assigned network resources. Here's a pictorial overview of a gateway offering eight channels for the bidding process .
Anti collision coordinator: As previously discussed, the MXProtocol is built to reduce collision in the network. This feature is highly necessary considering the fact that IoT devices are expected to surpass 75billion in number, in the next few years.
Inter-chain data market: In the data market, the MXProtocol validates data by supplying them to other blockchain smart contracts, receiving rewards in return.
Benefits of MXC
It is fully decentralised hence, there is no single point of failure.
It effectively reduces network collision/congestion.
It is fast.
Its smart bidding ensures that only the best placed gateway is assigned network resources.
It is a public network, therefore any individual or device can participate.
How does MXC fare against other technologies ?
The industry is a very competitive one and as a new entrant, potential adopters and investors will definitely love to see how how MXC fares against already existing alternatives. I bet you would too !
IoT Protocols
Final thoughts - The future of IoT with MXC
IoT has shown how the internet can be used to establish a relationship between devices for resource sharing and operability. Without doubt, it is a credit worthy innovation that could be improved upon to provide more features beyond our expectations. It is also proven that modern technologies do not have the necessary technical and infrastructural architecture to provide uninterrupted connection to cater for a fast rising IoT world, set to surpass 75billion by 2020.
With MXC and it's proposed solution, we can not but wait to see what the future holds for IoT, who knows, it might just be the next best thing in our digital world. Let's watch and see !
Token Economics
MX coin is the native coin used for transactions within the ecosystem. Here's an overview of its allocation
Team
Roadmap
Information and resources
MXC Website
MXC Telegram
MXC Economic whitepaper
MXC Technical whitepaper
MXC Medium
If you have any questions concerning this project, feel free to ask in the comment section below.
All unsourced images were culled from the project's economic and technical whitepapers
MXC will revolutionalise the whole IoT market. I can't wait for the BANG!
Amazing article mate.
Nice piece of work in dissecting and outlining the intricacies of MXC. It seems to be a viable and laudable investment. One of a kind too. Well Done @danielwrites.
Mxc is indeed a unique brand, and i sincerely hope that it'll outlive expectations. Its quite informative