Cryptocurrency mining has become a hot topic of discussion in the last couple of years due to its lucrative nature and the industry’s impact on the environment.

The advent of Web3 and the growing presence of Internet of Things (IoT) devices has led to a new class of affordable mining protocols with low-power network technologies. These include LPWAN or LoRaWAN, designed to carry data at low bit rates over long distances.

One such protocol that has gained traction in recent months is MXC, a Web3 infrastructure protocol designed to provide location-based LPWAN coverage for IoT devices worldwide.

Data from Cointelegraph Markets Pro and TradingView show that since reaching a low of $ 0.046 on January 1st, the price of MXC has risen 200% to a new all-time high of $ 0.139 on January 19th.

MXC / USDT 1-day chart. Source: Trading View
Three factors that increase the momentum of MXC are the ability of MXC miners to extract multiple cryptocurrencies simultaneously, the introduction of weekly delivery of new mining hardware, an expanding global ecosystem of partners and independent mining nodes.

Diversity in mining can be an advantage
The IoT mining sector has seen many newcomers in recent years with projects such as Helium (HNT) and Nitro Network (NCASH) offering LoRaWAN-based networks that transmit data using native HNT and NCASH tokens.

MXC has chosen another path that uses a Low Power Wide Area Network (LPWAN) to provide coverage for IoT devices that can also extract multiple cryptocurrencies simultaneously, including Bitcoin (BTC), MXC and DataHighway (DHX).

The MXC network uses a MatchX M2 Pro LPWAN miner that can be purchased from their website for € 2,499 or from Amazon for $ 3,299, along with a DataDash app that lets users manage miners and rewards.

When it comes to hardware capable of extracting bitcoin, the M2 Pro miner requires 5W of power compared to the 3250W required by Bitmain’s “Antminer S19 Pro”. This makes the M2 more suitable for people who do not have much money to invest in a large mining operation.

According to a user’s self-report, M2 Pro miners earned between $ 8 and $ 10 per day, assuming it would take 8 months to recoup the original investment.

Easy access to M2 Pro
Another reason for MXC’s momentum to build up is the introduction of weekly shipping for new M2 Pro orders.

For LPWANs, achieving broadband coverage is fundamental to the network’s long-term health. Having an easy way for stakeholders to buy mining hardware helps to increase the growth rate.

Delays in the supply of miners have been a problem for other networks, including helium, which has led to bitterness and some cancellations as users regret wasting time and money that could have been spent more productively elsewhere.

As a result of contacting parties interested in purchasing the M2 Pro, the MXC network has reached 18,186 nodes worldwide.

MXC node network. Source: MXC Folders
Related: The EU Securities and Exchange Commission demands a ban on cryptocurrency mining

New partners and launch of F-NFT
In addition to the expanded network, MXC has new partnership projects joining the network, and there are plans to include “Functional Non-Perishable Tokens” or F-NFTs.

The protocol has entered into a partnership with Matcha and the team is currently in talks with Huobi Exchange to create campaigns for international users.

MXC also announced a new partnership with Random Network that will provide the community with a dashboard for the data distributed by MXC from the global network of M2 Pro miners.

Source: CoinTelegraph

LEAVE A REPLY