MXC Announces QuarkChain as Newest Investor

MXC Foundation, the break-through cryptocurrency promoting LPWAN technology powered by the MXProtocol, has today welcomed QuarkChain – the technology that aims to create a highly scalable and secure blockchain that can handle up to one million transactions per second using a two-layered blockchain system – as an investor to the organization.

“MXC’s mission is to make the world a better place by harnessing the potential of the IoT and blockchain and connecting the two so that artificial intelligence (AI) can be harnessed from it,” said Hu Xin, CEO of the MXC Foundation. “AI and Big Data are becoming the means for making better decisions. Our partnership with QuarkChain means we are one step closer to making everything smart, and therefore to helping individuals and enterprises take part in the shared economy where IoT data will be much more visible, transparent and ethically trackable.”

Quarkchain is a permissionless blockchain protocol aiming to set a global commercial standard for blockchain operations by providing a high capacity peer to peer transaction system, using a dual-layered blockchain architecture that implements sharding. Quarkchain believes this technology can successfully process more than 100,000 transactions per second.

“Decentralizing and tokenizing wireless service for devices will be one of blockchain technologies’ largest use cases,” said Qi Zhou, founder and CEO of QuarkChain. “We’re looking forward to working with MXC to increase usability of blockchain technology, addressing real-life problems and bringing the benefits of blockchain to more people in the world.”

MXC combines the LPWAN and the Machine eXchange Protocol (MXProtocol). This is then combined with the Machine eXchange Coin which supports the user with streamlined data transactions and data flow monetization. Individual users and enterprises can construct a decentralized and secure LPWAN simply by connecting a device to the online network. This enables any device connected to IoT to connect. IoT devices are then monetized through an LPWAN gateway where they can access all published data traded within the marketplace.