The companies want to enable cities to combine the power of blockchain and LoRaWAN
Berlin-based MXC Foundation, a “purpose-built” foundation dedicated to powering IoT advancement on blockchain, is collaborating with Semtech Corporation in its efforts to deploy open networks leveraging the LoRaWAN protocol.
“We are excited to be working together with Semtech to leverage the long range, low power and security benefits provided by LoRaWAN networks,” said Xin Hu, CEO of the MXC Foundation.
“The combination of blockchain technology and LoRa devices allow us to quickly provision and connect the growing number of crypto mining M2 Pro devices that contribute to the MXC ecosystem. The resulting open blockchain LoRaWAN networks help communities take advantage of various smart city solutions to maximise efficiency and reduce operating expenses.”
Strategic smart city partnership
MXC reports it is connecting communities with open-source wireless communication networks in the US, Europe, Korea, and Russia, and has reached a strategic smart city partnership with the government of Hangzhou, China.
MXC’s blockchain business model utilises participants which serve as ‘supernodes’ that deploy and share their own personal IoT gateway, producing a massive data highway with extensive LoRaWAN network coverage. Individuals can mine cryptocurrency and improve their own data transaction exchanges while simultaneously sharing in MXC supernode profits, according to the foundation.
“Semtech is dedicated to the development of innovative IoT strategies. With MXC Foundation’s commitment to using LoRa devices and the LoRaWAN protocol, its mission to deploy open blockchain networks is a success for all stakeholders,” added Marc Pegulu, vice president of IoT product marketing for Semtech’s Wireless and Sensing Products Group.
“MXC’s model not only incentivises members to own and operate a piece of its network, but their participation helps reinforce the position of LoRaWAN as the ideal standard of choice for low power wide area networks applications.”
“The resulting open blockchain LoRaWAN networks help communities take advantage of various smart city solutions to maximise efficiency and reduce operating expenses”
MXC Foundation’s mission is to inspire “fast, efficient, decentralised data exchanges” using LPWAN, blockchain and token technology. The foundation said it is pairing its IoT cryptocurrency with advanced LPWAN technology, developing the next, “vital step in the fourth industrial revolution, enabling secure, vastly open and free, lightning-fast transactions”.
Semtech Corporation is a provider of high-performance analogue and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Its products are designed to benefit the engineering community as well as the global community, the company said.
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