Semtech Corporation (Nasdaq: SMTC), a leading supplier of high performance analog and mixed-signal semiconductors and advanced algorithms, is collaborating with MXC Foundation, an organization dedicated to powering the future of IoT advancement on blockchain, in its efforts to deploy open networks leveraging the LoRaWAN protocol.
“We are excited to be working together with Semtech to leverage the long range, low power and security benefits provided by LoRaWAN networks,” said Xin Hu, CEO of the MXC Foundation. “The combination of block chain technology and LoRa® devices allow us to quickly provision and connect the growing number of crypto miner M2 Pro devices that contribute to the MXC ecosystem. The resulting open blockchain LoRaWAN networks help communities take advantage of various Smart City solutions to maximize efficiency and reduce operating expenses.”
MXC is connecting communities with open-source wireless communication networks in the U.S., Europe, Korea, and Russia, and recently reached a strategic Smart City partnership with the government of Hangzhou, China. MXC’s blockchain business model utilizes participants who serve as “supernodes” who deploy and share their own personal Internet of Things (IoT) gateway, producing a massive data highway with extensive LoRaWAN network coverage. Individuals can mine cryptocurrency and improve their own data transaction exchanges while simultaneously sharing in MXC supernode profits.
“Semtech is dedicated to the development of innovative IoT strategies. With MXC Foundation’s commitment to using LoRa devices and the LoRaWAN protocol, its mission to deploy open blockchain networks is a success for all stakeholders,” said Marc Pegulu, vice president of IoT Product Marketing for Semtech’s Wireless and Sensing Products Group. “MXC’s model not only incentivizes members to own and operate a piece of its network, but their participation helps reinforce the position of LoRaWAN as the ideal standard of choice for low power wide area networks applications.”
