MXC: Ethereum's Largest DePIN Infrastructure

*Forward the Original Title：MXC 如何成为以太坊生态最大的 DePIN 基础设施？

In the future, MXC aims to become the largest DePIN infrastructure in the Ethereum ecosystem. Its token economy and utility will create more value for users, developers, and investors.

Official website:https://www.mxc.org/

Twitter：https://twitter.com/MXCfoundation

Recently, MXC (Meta X Connect) announced a strategic investment from JDI Ventures, a DePIN investment fund under the renowned blockchain hardware manufacturer JDI Global, with this round of financing reaching up to $10 million. This announcement has received remarkable market performance.

Behind the MXC team, there is not only financial support, hardware development, and market influence from JDI Global but also technical expertise accumulated in the decentralized IoT space since its establishment in Berlin, Germany, in 2017.

The MXC team has already launched the first Layer3 zkEVM solution on Arbitrum, utilizing LPWAN technology and the MXProtocol, addressing the existing issues in low range and high power consumption, allowing for large-scale data sharing while ensuring end-to-end encryption and privacy. This solution, led by core members of the original zkSync team, aims to integrate Ethereum’s diverse dApp ecosystem and become the DePIN infrastructure of the Ethereum ecosystem.

As the concept of DePIN soars alongside Ethereum’s ecosystem, can MXC, as Ethereum’s DePIN infrastructure, successfully ride the wave and reap the benefits?

We believe that MXC has many advantages from market positioning to technical architecture and ecosystem construction.

1. Market Positioning: DePIN + Layer3

The DePIN concept is undoubtedly the most significant narrative attracting external funds in this bull market. However, there are different technical solutions for how DePIN can be implemented. From lightweight dApps to heavyweight proprietary chains, project teams must personally create a closed-loop business system, which requires high capabilities and high-quality resources. Consequently, which results in fierce competition.

However, MXC’s positioning is between the two, namely building a Layer3 serving DePIN projects in the Ethereum ecosystem, enabling DePIN projects to have scalability without the need to build a public chain and directly benefit from the thriving Ethereum ecosystem.

Although from a technical architecture perspective, Layer3 is similar to Layer2, it offers many advantages more suitable for DePIN than Layer2. For example, it provides better cross-chain interoperability, which is particularly important for DePIN projects, especially in integrating IoT technologies, as IoT devices and applications often need to exchange data across multiple platforms and networks.

Additionally, Layer3 can also support greater transaction throughput and further reduce network usage fees, ultimately bringing cost-effective transaction efficiency.

MXC’s solution through building Layer3 zkEVM on Arbitrum can address key challenges encountered when deploying blockchain for IoT applications, especially in increasing transaction throughput and reducing costs.

Industry estimates suggest that the output of the DePIN industry is expected to reach $3.5 trillion by 2028, and over the next decade, DePIN may add $10 trillion to global GDP, totaling $100 trillion in ten years.

MXC’s solution can support the ever-increasing volume of information flow generated by IoT devices continuously uploading data and make this information truly valuable within the Ethereum ecosystem.

2. Technical architecture: LPWAN + Layer3 + MXProtocol

a. LPWAN Technology

With the explosive growth of IoT devices, massive data will be generated, offering a wide range of services, which also brings challenges of high data demand and data processing.

The MXC team has adopted LPWAN technology, a communication technology designed specifically for low-power devices, capable of covering extensive geographic areas. It is highly suitable for applications requiring long battery life and extensive network coverage, such as parking spaces, garbage bins, streetlights, and other urban data. It ensures that this information is permanently open to all users for free.

The emergence of LPWAN fills the gap between wireless communication technologies in terms of low range and low power consumption. It can simultaneously achieve wide-area coverage and low-energy communication, effectively collecting and transmitting sensor data from various corners of the city.

This data subsequently flows within the MXC platform, providing comprehensive operational services for governments, businesses, and citizens, thereby promoting the development of various application scenarios such as smart cities, smart agriculture, and asset tracking.

1. Layer3 zkEVM

Based on the innovation of Arbitrum Orbit, MXC’s Layer3 zkEVM built on Arbitrum provides powerful technical support for large-scale IoT platforms to enter the blockchain.

Specifically, it integrates Ethereum’s rich dApp ecosystem and significantly enhances network scalability, security, and efficiency through zkEVM technology. It also enhances user privacy protection and encourages developers to build dedicated DePIN Layer3 and DePIN dApps.

Furthermore, MXC’s token serves as the gas token for network transactions, laying the most basic utility, enhancing the value and utility of the MXC token.

1. MXProtocol

As mentioned earlier, the explosive growth of IoT devices will generate a massive flow of information, and DePIN can make this information truly valuable.

MXC utilizes LPWAN technology to generate a huge amount of IoT information and has built MXProtocol on Layer3 zkEVM, allowing device data to be truly monetized.

MXProtocol relies on the “Proof of Participation” consensus mechanism to ensure the continuity and reliability of the LPWAN network. It also allows users to easily manage the health status of mining machines through the AXS App, further expanding the application scope of MXProtocol, including but not limited to supporting M2 Pro mining machines to mine tokens and providing a platform for data trading for various IoT devices and applications.

The ultimate goal of the M2 Pro mining machine, developed by MXC Foundation as an LPWAN device, is to provide a decentralized IoT network for everyone. The M2 Pro mining machine is equipped with a high-performance NXP Arm Cortex-A7 CPU, 256MB DDR3 RAM, and 256MB NAND FLASH storage, as well as dual SX1303 chip LoRa radios supporting multi-region frequencies and various internal sensors. In addition, the mining model of the M2 Pro mining machine has been fully transitioned to a blockchain-based mining protocol, ensuring the transparency and fairness of the mining process. Users can mine based on the filling level of the fuel tank (xMXC), with estimated daily profits ranging from $10 to $12. Through its Proof of Participation (PoP) model and on-chain mining protocol, MXC provides a decentralized and efficient mining platform for IoT devices and data communication.

Furthermore, MXC provides a fully customizable Web3 wallet through the AXS App, supporting users to manage data mining machines, monitor performance, mine, stake, and trade various cryptocurrencies and data tokens, and even support functional NFTs (F-NFTs).

The AXS App also supports bridging MXC tokens from the Ethereum mainnet to the MXC zkEVM mainnet, providing the fastest bridging experience from Layer1 to Layer3 in the Web3 ecosystem.

Summary

MXC’s adoption of LPWAN technology can support the generation and transmission of massive data.

MXC’s Layer3 zkEVM built on Arbitrum provides powerful technical support for large-scale IoT and can integrate Ethereum’s rich dApp ecosystem.

MXC has built MXProtocol on Layer3 zkEVM, allowing device data to be truly monetized.

If the DePIN market is still a blue ocean, then MXC’s technical architecture is already very mature, with the potential to become the biggest dark horse in this incremental market.

3. Ecological Development: Community + Network + Strategic Partnerships

1. Community

MXC enhances community value through the construction of a decentralized physical infrastructure network (DePIN), enabling effective connectivity and communication of devices globally. Community value is reflected in several aspects:

Market Potential: With the IoT market valued at up to $1 trillion, it indicates significant market potential and growth space. MXC provides community members with opportunities to participate in global business by engaging in this market.

Global Coverage: The MXC network covers over 170 countries, providing community members with cross-border data connectivity services, facilitating international cooperation and business expansion.

Device Connectivity: The connection of over 63,000 devices demonstrates the utility and widespread adoption of MXC’s technology. The increase in the number of devices also represents the network’s value and the actual growth of the community.

Data Accumulation: Accumulating over 60TB of data demonstrates active usage of the MXC network by the community and their contribution to data generation and sharing. The value of data increases with the growth of analysis and applications.

1. Network

The growth of MXC’s network can be measured by the number of devices and data accumulation. The impacts of network growth include:

Technological Advancement: With advancements in technology and the implementation of new features, the network can support more devices and more complex application scenarios.

User Base: The increase in the number of devices reflects more users joining the network, expanding the user base directly increases the value and attractiveness of the network.

Data Economy: The accumulation and application of data promote the development of the data economy, providing community members with opportunities for innovative and commercialized data products and services.

Network Effects: The increase in network coverage and the growth in the number of connected devices mutually reinforce each other, forming positive network effects, making the network increasingly attractive to new users and enhancing the platform’s competitiveness.

As of the time of writing, MXC zkEVM has accumulated 332,718 blocks, created 32,462 wallets, and burned a total of 33,198,498 MXC tokens. Through these metrics, we can observe the healthy development trend of the MXC community and network.

With continuous technological evolution and further market expansion, MXC has the potential to further enhance the value of its community and the growth of its network. It is noteworthy that MXC’s economic model is a deflationary mechanism, where the more DePIN devices connected, the faster the deflation. The MXC network is currently in the early stage of rapid growth.

1. Strategic partnership

MXC has established strategic partnerships with multiple industry leaders and key platforms, covering various fields such as cryptocurrency trading, capital investment, technology development, and project incubation. The diversity of strategic partnerships reflects MXC’s global expansion strategy and its influence in the crypto economy.

Key strategic partnerships of MXC include:

Cryptocurrency Exchanges: Including Coinbase, Binance.US, KuCoin, crypto.com, Huobi, Kraken, Gate.io, Bithumb, Uniswap, and Bitpanda. These exchanges provide liquidity support for MXC tokens, making them easily tradable and accessible globally.

Media Platforms: Such as Forbes, Cointelegraph, Yahoo Finance, The Daily Hodl, CoinMarketCap, CoinGecko, and LunarCrush. These platforms increase the visibility of the MXC project and help communicate the latest developments and milestones to the public.

Investment and Incubation Institutions: Such as Fenbushi Capital and DWF Labs, which provide support in capital injection and project incubation, contributing to the growth and development of MXC startup projects.

Technology and IoT Partnerships: Including Digital Matter, Sensative, MOKO SMART, careband, ENLINK SUPER NODE, and IDENTYTEC, among others. These companies collaborate with MXC in IoT technology and product development, jointly driving innovation in the IoT field.

These partnerships not only provide MXC with platforms for market expansion but also collectively contribute to the construction and growth of the MXC ecosystem through their expertise, technical support, and industry connections. Through these strategic alliances, MXC is able to broaden its technological boundaries, enhance brand influence, and strengthen its competitiveness in the global crypto and IoT markets.

4. Conclusion

The above discussion illustrates MXC’s capability in building data networks, providing more efficient means of connection and communication for devices, and introducing new business models and revenue streams for the Internet of Things (IoT) and blockchain technology.

After five years of dedication, MXC has collaborated with nearly two hundred countries globally, covering 20% of the world’s landmass. The main focus areas include entire Europe and the east and west coasts of the United States, regions that are not densely populated but hold significant importance in terms of technological development and market potential. It can be said that MXC has established a robust global Web3 network, laying the foundation for the future development of data needs.

Currently, MXC has established strategic partnerships with multiple industry leaders and key platforms, spanning across various domains such as cryptocurrency exchanges, capital investment, technology development, and project incubation. This reflects MXC’s global expansion strategy and its influence in the cryptocurrency economy.

In the future, MXC is committed to becoming the largest DePIN infrastructure in the Ethereum ecosystem, with its token economic model and utility creating more value for users, developers, and investors.

It is worth mentioning that MXC Foundation has introduced an innovative incubation model called Initial Sensor Offering (ISO) for Web3 IoT projects. It aims to provide infrastructure, services, and tools to create data connectivity scarcity, attract miners and stakeholders, and drive the growth of the MXC ecosystem.

With the deflationary mechanism of the MXC token’s economic model, the continuous growth of DePIN devices will accelerate the deflation rate of the MXC token. It is believed that MXC will continue to advance its technological development, expand its network coverage, and establish more partnerships, further enhancing its market influence and economic value.

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