MXC and Polkadot Team Up To Power Smart Cities
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MXC Foundation has its visions set on delivering the new, revolutionary digital world of tomorrow. By sending data packets more efficiently, more frequently, and over longer distances, the German blockchain project thinks it has discovered the key to making Smart Cities a success.
Before the token of MXC becomes the most used token globally (the promise of all thousands of crypto projects), a few more hurdles need to be overcome.
Internet of Things
During the hectic 2017 crypto bull market, investors began to explore more possibilities. Data with the Internet of Things (IoT) was seen as a logical use case for tokens. Investors were attracted by the idea of, Live data streams that allow data to be traded 24 hours a day and within seconds, Token micropayments in exchange for tiny data packets, Transactions without costly currency exchanges, A reliable and secure protocol that minimizes the risk of financial exchange.
Dead promises from 2017
But as we all know, many of these tokens and technologies struggled with acceptance in the real world. No project could live up to the promises made in 2017. You may believe this was due to the complicated nature of crypto or a lack of user interest, but the real reason may lie much deeper than that. One of the main reasons is the lack of interoperability, or in simple terms, blockchains are not compatible with each other.
For example, if a city chooses to use a new blockchain solution for its Smart City needs, What if the city wants to add features that are not in line with their chosen blockchain. What if they need features from other blockchains to fulfill their smart city demands. This problem has led many cities, businesses, and institutions not to commit to a single-chain blockchain solution.
Polkadot Delivers Technology
Fortunately, recent developments in blockchain technology are beginning to offer solutions to these old problems. The MXC Foundation has signed several central Smart City deals with the Shanghai Yang-Pu government throughout South Korea. Polkadot provides advanced technical developments in Smart City technology. This next-gen blockchain protocol allows different specialized blockchains to connect in one unified system.
“These are great times to enhance IoT interoperability, and MXC wants to be the engine of change within the data industry. Building on Polkadot’s technology, we believe we are finding our way for future data transmissions,” says Aaron Wagener, one of the founders of MXC.
Originally published at https://thecryptobasic.com on December 7, 2020.