Machine Xchange Coin

price
change

Discover Machine Xchange Coin's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Machine Xchange Coin?

Machine Xchange Coin (MXC) is a utility token used for device transactions on the MXC Supernode network, facilitating the sharing and trading of IoT data and tokens. It operates on the ERC-20 standard and employs a Proof of Participation (PoP) system to validate and reward node operators and participants. MXC aims to create a decentralized IoT infrastructure, enabling the publication, sale, and trade of data on an inter-chain NFT marketplace.

How is Machine Xchange Coin used?

Machine Xchange Coin (MXC) is a utility token used within the MXProtocol, a blockchain-based platform focused on the development of the Internet of Things (IoT) ecosystem. It enables fast, efficient, and decentralized data exchanges using Low-Power Wide-Area Network (LPWAN) and blockchain technology.

MXC is used for device transactions conducted through the MXProtocol, allowing IoT tokens and data to be published, sold, and traded on an inter-chain NFT marketplace. This facilitates the creation of local data economies, where anyone can gather data as an asset and resell it.

How do I store Machine Xchange Coin?

To store Machine Xchange Coin (MXC) tokens securely, you can use several types of wallets. Since MXC is an ERC-20 token, it can be stored on any wallet that supports Ethereum. Here are some options:

  1. Hardware Wallet: This is the most secure option. Hardware wallets are physical devices that store your private keys offline, protecting your tokens from unauthorized access.

  2. Official Coin Wallet: The official MXC wallet is designed specifically for the token and provides a high level of security and compatibility.

  3. Third-Party Software Wallets: These wallets are developed by independent companies and offer various features and levels of security. They can be installed on your computer or mobile device.

  1. MetaMask: MetaMask is a popular browser extension that supports Ethereum and ERC-20 tokens, including MXC. It allows you to manage your tokens directly in your web browser.

When choosing a wallet, consider factors such as security, ease of use, and compatibility with your devices. Always follow best practices for securing your wallet, such as using strong passwords and keeping your private keys safe.

How to buy Machine Xchange Coin?

To buy Machine Xchange Coin (MXC) tokens, follow these steps:

  1. Choose an Exchange: Select a reliable cryptocurrency exchange that supports MXC trading, such as Gate.io, Kraken, or Kucoin.

  2. Sign Up and Verify: Register on the chosen exchange's website or app, and complete the Know Your Customer (KYC) process to verify your identity.

  3. Deposit Funds: Deposit fiat currency (e.g., USD, EUR) or other cryptocurrencies (e.g., USDT, ETH, BTC) into your exchange account using methods like credit cards, bank transfers, or peer-to-peer trading.

  1. Buy MXC: If MXC is not directly available, buy a supported cryptocurrency like USDT, ETH, or BTC. Then, use that cryptocurrency to purchase MXC on the spot market.

  2. Store MXC Securely: Once you have purchased MXC, transfer it to a secure wallet to store your tokens safely.

For more detailed instructions, you can refer to the specific guides provided by each exchange or websites like CoinCarp and CryptoWallet.

Discover
Machine Xchange Coin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of Machine Xchange Coin

Machine Xchange Coin (MXC) was founded in 2018 as a non-profit organization. It aims to revolutionize the AI and blockchain industries by building a free and decentralized global data network. MXC is a utility token that allows for increased frequency of data transactions and idiosyncratic data flows within the AI and blockchain markets. The MXProtocol, which MXC is based on, uses Proof of Participation mining principles and LoRaWAN technology to create a global data republic network utilized for real-world adoption.

MXC is designed to empower Web 3.0 and blended reality metaverse infrastructures, simplifying and increasing data transmissions and participation. The protocol allows individual network users, corporations, and enterprises to participate in constructing a global decentralized and secured network for their individuals within the MXC platform.

MXC has introduced a robust mining community and the collective power of the sprawling MXC supporter base. Using the world’s only Low-Power Multi-Token Miner, the M2 Pro Miner, miners intertwine and build the world’s largest Low-Power Wide-Area Data Network via the Metaverse.

The MXC Foundation is the steward of the MXProtocol and the MXC token, working together to build a global data network that allows devices to connect, commit, and communicate more efficiently than ever before.

Discover
Machine Xchange Coin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How Machine Xchange Coin works

Machine Xchange Coin (MXC) is a cryptocurrency designed to facilitate the exchange of data and computing power within the Internet of Things (IoT) ecosystem. Here is a detailed overview of how it works:

Key Components
  1. MXProtocol: This is the core technology behind MXC, enabling secure, scalable, and fast transactions within the IoT network. It relies on a decentralized network of M2 Pro Miners to provide Low Power Wide Access Network (LPWAN) coverage, allowing devices to communicate and share data efficiently.

  2. Supernodes: These are nodes spread across the globe, operated by users who stake MXC tokens. They ensure reliable data transmission and provide LPWAN coverage worldwide.

  3. Proof of Participation (PoP): This is the consensus mechanism used by MXC to validate transactions and reward node operators and participants. It combines with the Supernodes to maintain the integrity of the network.

  1. MXC Token: This is the native token of the MXC ecosystem, used for device transactions, data publishing, and trading on the inter-chain NFT marketplace. It is an ERC-20 utility token.
Functionality
  1. Data Sharing and Trading: MXC enables the secure and efficient sharing of IoT data between devices, allowing data owners to monetize their data and data receivers to access the information they need.

  2. Decentralized Governance: MXC token holders participate in the governance process, voting on proposals and contributing to the development of the project.

  3. Staking and Passive Income: Users who stake MXC tokens can earn passive income by operating Supernodes and contributing to the network's reliability.

  1. NFT Management: MXC is involved in the NFT sector, allowing for the management and trading of non-fungible tokens within its ecosystem.
Benefits
  1. Scalability: MXC's LPWAN technology and decentralized architecture enable it to handle a large volume of device data transmissions efficiently.

  2. Security: The use of blockchain technology and the MXProtocol ensures secure data transmission and reduces the risk of data collisions.

  3. Cost-Effectiveness: MXC's LPWAN technology and decentralized nature reduce the cost of data transmission compared to traditional methods.

  1. Global Coverage: The network of Supernodes provides LPWAN coverage globally, making it suitable for IoT applications worldwide.

In summary, MXC is a decentralized IoT infrastructure that leverages blockchain technology and LPWAN to facilitate secure, efficient, and cost-effective data sharing and trading within the IoT ecosystem.

Discover
Machine Xchange Coin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Machine Xchange Coin's strengths

Machine Xchange Coin (MXC) has several strengths that make it an attractive investment opportunity:

  1. Decentralized Data Trade Network: MXC aims to provide a unique and specifically designed data trade network that ensures complete end-to-end privacy. This decentralized approach allows data owners, receivers, and network hosts to share data on a broader scale while maintaining privacy.

  2. Utility Token: MXC is an ERC-20 utility token used for device transactions on the MXC Supernode network. This utility token allows users to participate in staking, which gives them a chance to share in Supernode profits.

  3. Distributed Computing: MXC is part of the Meta X Connect project, which focuses on distributed computing solutions, particularly in the AR/VR and Metaverse spaces. This decentralized computing approach aligns with blockchain principles and has the potential to create value for the network and its token holders.

  1. Low-Power Mining: The MXC DATA Network has developed a low-power mining model, the M2ProMiner, which aims to reduce the environmental impact of mining operations. This eco-friendly approach is increasingly important in the crypto space.

  2. Part of the Polkadot System: MXC is part of the Polkadot Parachain system, which aims to bring distributed computing to the emerging Metaverse and VR/AR ecosystem. This integration provides MXC with a broader scope and potential for growth.

  3. Wide Range of Services: MXC offers a variety of blockchain-based financial services, making it a versatile token with multiple use cases.

These strengths position MXC as a token with a strong foundation and potential for growth in the cryptocurrency market.

Machine Xchange Coin's risks

Machine Xchange Coin (MXC) is a decentralized global token technology designed to facilitate data transactions in the Internet of Things (IoT) industry. However, like other cryptocurrencies, MXC is subject to various financial risks that investors should be aware of:

  1. Market Volatility: MXC's value can fluctuate rapidly and significantly due to market conditions, making it difficult to predict its future performance. This volatility can result in substantial losses if not managed properly.

  2. Regulatory Risks: Changes in laws and regulations can impact the value of MXC. As the regulatory environment for cryptocurrencies is still evolving, MXC may be affected by new rules or restrictions that could negatively impact its value.

  3. Security Risks: MXC, like other cryptocurrencies, is vulnerable to various security threats such as hacking, phishing, and other cyberattacks. These attacks can result in the loss of assets and compromise the integrity of the network.

  1. Liquidity Risks: MXC's liquidity can be affected by market conditions, making it difficult to buy or sell the coin quickly enough or at a favorable price. This can lead to significant losses if an investor needs to liquidate their assets rapidly.

  2. Operational Risks: MXC's underlying technology and infrastructure can be prone to technical issues, such as service outages, connectivity errors, and unstable APIs. These issues can disrupt the functioning of the network and impact the value of MXC.

  3. Counterparty Risks: MXC's value can be affected by the financial health and stability of its counterparties, such as exchanges and other financial institutions. If these counterparties experience financial difficulties, it can impact the value of MXC.

  1. Valuation Risks: MXC's value is not backed by any underlying asset or claim, making it difficult to determine its intrinsic value. This can lead to speculation and market manipulation, which can result in significant price swings.

  2. Interoperability Risks: MXC's ability to interact with other blockchain networks and systems can be a risk if these interactions are not seamless, leading to potential losses or disruptions.

  3. Scalability Risks: MXC's ability to handle increased transaction volumes and user adoption can be a risk if its technology is not scalable enough, leading to congestion and potential losses.

  1. Reputation Risks: MXC's reputation can be impacted by negative events or perceptions, such as security breaches or regulatory issues, which can affect its value and adoption.

It is essential for investors to carefully evaluate these risks and consider their own risk tolerance before investing in MXC or any other cryptocurrency.

Discover
Machine Xchange Coin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did Machine Xchange Coin raise funds?

Discover
Machine Xchange Coin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Machine Xchange Coin’s team

  • Katherine Deng: Vice President of MXC Exchange, actively involved in the project's development and growth.

Whalee AI

The fundamental analysis assistant for crypto value investors.

Machine Xchange Coin NEWS REPORT

Latest news

Want an analysis of Machine Xchange Coin? Tell us on discord.

Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM