Q&A with Jeff Stahlnecker, Growth Manager at MXC Foundation
What is MXC (Machine eXchange Coin) and how does it benefits LoRa WAN users?
What MXC tries to do, is make it possible for people, individuals and companies to build a publicly owned wireless network for things. This is a network similar to long range networks 4G or LTE, which are long range cellular networks. What MXC is working on is making it possible for individuals to set up a network and provide it as a sharing economy to other network users, instead of a single company owning the entire network. This is similar to AirBnB or Uber, with the exception that we are actually not going to control the network. Instead, once the code is released in 2020 – it is just going to grow.
With this concept and idea comes the need to manage all the data and devices and make it possible for the devices to communicate with each other – without humans having to check if all is functioning. And that’s what the MX protocol does.
The biggest goal of MXC is to promote the adoption of LPWAN technology.
The more devices are out there and sharing their network publicly - the more sensors can attach to the device and the less money people have to spend in cities in order to have connectivity. MatchX is a vital partner for us in establishing this LPWAN network and securing more adoption of these technologies.
What is the MX protocol?
Protocols are used to determine how devices communicate. The MX protocol does it in three different ways.
The first one is obviously clearance. Machine to machine communication - to provide a standard for them to communicate over.
In addition, using MX Protocol will solve the problem of data collision on LPWAN networks and create the platform for smart bidding, and data trade between permissionless blockchains [permissionless blockchains allow anyone to create an address and connect with them].
How does the MX protocol work with the MatchX gateway?
If you buy a gateway today, you can start using the MX protocol in 9 months.
Let’s take the example of a scientist at a local university. The scientist wants to do some research in their area and has deployed many sensors around the campus for research.
But they need a way to transmit the data from the sensors to the gateway server where they can analyse the data. You could try to run a cable to every sensor- but that would cost a lot of money.
The MatchX LoRa WAN network provides an efficient low cost solution and establishes a standard for device data communication.
MX protocol coordinates transmissions using LoraWAN and helps users make money with the data or the network capacity they provide. If you are using a MatchX device, the MX protocol would negotiate the price of that resource and the negotiate the payment, thus enabling you to make transactions instantaneously.
So essentially the MX protocol is the logical machine learning system on top of LoraWAN devices such as MatchX gateways that ensure transmissions are most reliable and efficient, while at the same time adding the monetization aspect to it. Individuals will now be able to trade their network resources for MXC.
What is data collision and how does MX protocol stop it?
Frequencies function like train tracks. Only one train can travel on one track at the same time. When two devices try to send data over a single frequency at the same time, the data collides and is lost. Many networking systems suffer from similar issues. Only so many transmissions can be sent at one time in one area until there is so much “noise” that the transmission collides with another and can’t get through. This is referred to as “data collision”. And consider that IHS Markit projected that in 2030 more there will be more than 125 billion connected devices. MXC fixes this problem with the MXProtocol.
How will it change the LoRa industry?
LoraWAN is not mainstream yet and will be challenged by the release of the telecom NB-IOT. So what MXC does is that it provides the momentum behind this technology to become widespread. It gives people a clear reason to set up their own LoraWAN network.