MXC Foundation, the break-through cryptocurrency promoting LPWAN technology powered by the MXProtocol, has today welcomed Longhash, a startup for accelerating the understanding and development of blockchain technology, as an investor to the organization.
“At MXC we aim to create a decentralized, global IoT economy, where the data market is something individuals and small companies can participate in, and profit from,” said Hu Xin, CEO of the MXC Foundation. “Our mission aligns perfectly with that of Longhash. Together, we will work to develop and drive the shared economy where IoT data will be a much more visible, transparent and ethically trackable industry.”
Longhash is a platform for accelerating the development and understanding of blockchain technology. Its platform offers independent data analysis and media commentary, as well as a full range of support for blockchain start-ups including but not limited to professional services, modularized knowledge sharing, mentoring services, and investor outreach.
“In order to improve efficiency as a society, we believe it is necessary to shift from a centralized economic model to a flatter, decentralized economic model where resource allocation is flexible, and individuals are empowered to make decisions based on transparent data and matching demand and supply in real time,” said Longhash CEO Chris Dai. “Our investment in MXC is a step forward in our mission to incubate and contribute to blockchain projects that truly enable individuals to build transparent and vibrant communities. “
MXC combines the LPWAN and the Machine eXchange Protocol (MXProtocol). This is then combined with the Machine eXchange Coin which supports the user with streamlined data transactions and data flow monetization. Individual users and enterprises can construct a decentralized and secure LPWAN simply by connecting a device to the online network. This enables any device connected to IoT to connect. IoT devices are then monetized through an LPWAN gateway where they can access all published data traded within the marketplace.