MXC is a Utility Token, also commonly referred to as an Internet of Things (IoT) Token. MXC is building a global data network to allow wireless devices to connect and communicate more efficiently and over longer distances than currently used WiFi and Bluetooth methods. The MXProtocol and the interoperable Para-Chain network are designed to help cities, companies, and individuals profit/benefit from building an LPWAN network and using it to both transmit and manage data. Via MXC contour payments, MXC developers have devised an integrated IoT payment solution to allow automated machine to machine payments and IoT transactions to occur within a matter of seconds.
More than 6,700 different cryptocurrencies are traded publicly, according to CoinMarketCap.com, a market research website. And cryptocurrencies continue to proliferate, raising money through initial coin offerings, or ICOs.
Staking provides the MXC community members with the opportunity to share in MXC Supernode profits. A small percentage of all network fees transacted through a Supernode is split between the Supernode Operator, Supernode Stakers and the MXC Foundation.
About the MXC Token
MXC is an ERC20 utility token used for device transactions conducted through the MXC Supernode network. MXC adds value by giving the MXC community a chance to share in Supernode profits through staking
Cryptocurrency mining is the process in which transactions between users are verified and added to the blockchain public ledger. The process of mining is also responsible for introducing new coins into the existing circulating supply and is one of the key elements that allow cryptocurrencies to work as a peer-to-peer decentralized network, without the need for a third party central authority.
Cryptocurrencies Use Decentralized, Distributed Systems
How does it work?
A miner is a node/device in the network that collects transactions and organizes them into blocks. Whenever transactions are made, all network nodes receive them and verify their validity. Then, miner nodes gather these transactions from the memory pool and begin assembling them into a block (candidate block).
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