What Is MXC?

About Meta X Connect (MXC)

MXC is a native token of the IoT platform Meta X Connect. The purpose of the network is to allow devices to connect and communicate more efficiently. The foundation of this network is an MXProtocol. To make sure that it provides the best LPWAN network coverage possible, there is a Proof-of-Participation. It helps to manage "Miners' Health" to improve their performance. Transactions within the MXProtocol are being facilitated by the native ERC-20 token. The important part of mining with MXC is "Miner Health". It is supposed to provide a strong LoRa signal. There are 6 items that form Miner Health: fuel, uptime, GPS signal, orientation, proximity, and altitude. These indexes influence the mining potential.

MXC holders are able to achieve rewards for staking their tokens on SuperNodes, which are LoRaWan servers equipped with the Machine-to-Machine (M2M) wallet that fuels transactions within the platform. A network of SuperNodes is powered by the most reputable and well-known companies as well as by significant data specialists from around the globe.

Where did MXC (MXC) come from?

The idea of this project was born back in 2018 when the whole image of Web3 was gaining popularity. Meta X Connect was started as a protocol that was supposed to allow devices to make data and M2M transactions. Since then it has grown into one of the most successful LPWAN IoT networks. It became the most complicated infrastructure layer for Web3, which makes it possible for real-life objects to connect to the metaverse.

What are the advantages of MXC (MXC)?

1. Real-life implementations
   
   MXProtocol has a wide range of areas of implementation. Our life is full of data that is generated by machines, and there are lots of opportunities to expand. It can help to find parking lots faster, manage traffic, and overview some business opportunities by analyzing all collected data.
2. LPWAN tags
   
   A possibility to add LPWAN tags to real-life art or luxury objects may help owners to create NFTs for these things without digging into the details of blockchain technology.
3. Solves distance problem
   
   This is the main problem for Bluetooth connection. While Bluetooth can allow 100 - 200 meter connections, MXC reaches 1 - 40 km.
4. Multitoken mining
   
   M2 Pro provides a solution for easy and quick mining. The team has a strong belief that mining should be available to everyone.

What are the disadvantages of MXC (MXC)?

1. Use cases
   
   Even though this project has great potential, it is hard to see it in action at the moment. To get to a fully functional network of devices they still need to make a lot of steps.
2. Withdraw restrictions
   
   There are several limits that must be considered while withdrawing tokens. First, there’s a minimum amount, which can be changed because of the fee that should be paid for transactions. Secondly, restrictions concern the type of account a user has. For unverified accounts limits are lower.
3. Withdrawal consequences
   
   Some users pay attention to the fact that if a user withdraws all the MXC tokens from the wallet, the health score of this user drops. Thus, the rewards that could be achieved become lower.

How to buy MXC (MXC)?

If you are interested in trying out the MXC network and need to purchase the MXC tokens, SimpleSwap is happy to help. Please, follow the instructions below:

1. Let’s assume, you plan to exchange BTC for MXC. Select the crypto you wish to exchange (BTC) in the 1st drop-down list. Then enter the amount you want to swap.
2. Choose MXC in the 2nd drop-down list. You will see the estimated amount that you’ll receive after the swap.
3. Click the Exchange button.
4. Enter the Recipient's Address. MXC will be sent to this address. Be careful and make sure you use the correct address.
5. Create the exchange.
6. You will see the BTC deposit address. You have to transfer the necessary amount of BTC to this address to start the BTC to MXC exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.