MX Token MX
About
What Is MX TOKEN (MX)?
MX TOKEN (MX) is the native cryptocurrency token released by [centralized exchange](https://coinmarketcap.com/alexandria/glossary/centralized-exchange-cex) (CEX) MEXC in 2019. MX powers the MEXC ecosystem and provides its holders with access to unique functionality and other benefits of the platform. Holders have the right to vote on business decisions, team elections and gain priority participation in activities and more. MEXC is a crypto exchange and [P2P](https://coinmarketcap.com/alexandria/glossary/p2p-dex) platform that provides access to spot, margin and futures trading. The exchange offers a versatile digital asset trading service, passive investment staking, [DeFi](https://coinmarketcap.com/alexandria/glossary/defi) tools and more. MEXC supports buy/sell transactions using fiat through the P2P market.
Who Are the Founders of MX TOKEN?
The company was established in April 2018 registered in Seychelles. The exchange was co-founded by Sheen Xin Hu (CEO), Aaron Wagener (COO), and Piotr Brzezinski (CTO). Besides starting the MXC Foundation, Sheen Xin Hu is also the founder and CEO at MatchX. Sheen Xin Hu holds a dual master's degree in Computer Systems Networking and Telecommunications from Technische Universität Berlin, and in Network and System Administration from Université Pierre et Marie Curie. He has 10 years of tech development experience, worked at Airfy and Relayr as a hardware engineer and at ASUS as a marketing assistant. Nowadays, Sheen Xin Hu is LPWAN, Docker and Blockchain evangelist and the core developer at MXC zkEVM. Currently, MEXC is run by a Singaporean businessman, John Chen, who took over as CEO in 2021, the same year the MXC Exchange was officially rebranded to MEXC Global, now MEXC Official.
What Makes MX TOKEN (MX) Unique?
MX TOKEN (MX) is deflationary, MEXC uses a part of the collected trading fees to buy back and burn tokens, reducing the overall supply. MX enables the growth and expansion of MEXC and incentivizes token holders to contribute to the development of the ecosystem. The core products of MEXC are: Launchpad, a platform where users can invest in projects at an early stage; Kickstarter, a pre-launch event where users vote with MX to launch projects on MEXC; MX-DeFi, a mining reward program that allows users to stake MX tokens and receive rewards; M-Day, an activity that allows users to purchase newly issued digital tokens through a lottery.
How Many MX TOKEN (MX) Coins Are There in Circulation?
MX TOKEN (MX) is a crypto asset deployed on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) blockchain as an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token. MX holders get exclusive access to community activities and promotions, as well as the right to participate in voting (related to business issues, project listing, team elections). In addition, MX use cases include payment of trading fees and MX DeFi mining. MX TOKEN (MX) has a total supply of 450,000,000 coins with 100,000,000 MX in circulation, as of June 2023.
How Is the MX TOKEN Network Secured?
MX is an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token, it operates on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/https://coinmarketcap.com/currencies/ethereum/) blockchain and relies on the Proof-of-Stake ([PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos)) consensus mechanism. Additionally, MX TOKEN has been audited by [SlowMist](https://www.slowmist.com/security-audit-certificate.html?id=101639593fa19126eb8e83988ef9a7cae2338a9266f27d6f92cd2a40da55cc9b), a blockchain security firm specializing in cybersecurity audits and protection.
Where Can You Buy MX TOKEN (MX)?
The easiest way to obtain the MX token is to buy it directly on the [MEXC](https://coinmarketcap.com/exchanges/mexc/) exchange. There are also alternative options where you can purchase or trade MX, among them: [Huobi](https://coinmarketcap.com/exchanges/huobi/), [Bybit](https://coinmarketcap.com/exchanges/bybit/), [Jubi](https://coinmarketcap.com/exchanges/jubi-exchange/) and [ZT](https://coinmarketcap.com/exchanges/zt/). Download the CMC [mobile app](https://coinmarketcap.com/mobile/) to track prices of MX in real-time.
AI Analysis
What is the MX Token (MX) cryptocurrency good for? What are its main use cases?
The **MX Token (MX)** is the native cryptocurrency of the **MXC (Metaverse Exchange)** ecosystem, a decentralized exchange (DEX) and blockchain infrastructure project focused on Web3, DeFi, and the metaverse. Here are its main use cases and benefits: ### **1. Governance & Voting** - **DAO Participation**: MX holders can vote on key decisions regarding the MXC ecosystem, such as protocol upgrades, treasury allocations, and new partnerships. - **Governance Proposals**: Users can submit and vote on proposals to shape the future of the platform. ### **2. Staking & Yield Farming** - **Staking Rewards**: Users can stake MX to earn passive income through staking pools. - **Liquidity Mining**: MX can be used in liquidity pools to earn additional rewards in other tokens. ### **3. Transaction Fees & Discounts** - **Lower Fees**: MX can be used to pay for trading fees on the MXC DEX at a discounted rate. - **Gas Fee Payments**: In some cases, MX may be used to cover transaction fees on compatible blockchains. ### **4. Access to Exclusive Features** - **Early Access**: MX holders may get priority access to new features, airdrops, and token launches. - **NFT & Metaverse Integration**: MX is used in the MXC metaverse ecosystem for virtual asset purchases and in-game transactions. ### **5. Cross-Chain Interoperability** - **Multi-Chain Support**: MX is designed to work across multiple blockchains, enabling seamless DeFi and metaverse interactions. ### **6. Community & Ecosystem Growth** - **Incentives for Contributors**: MX is used to reward developers, node operators, and community members who contribute to the ecosystem. - **Partnerships & Collaborations**: MX is often used in strategic alliances with other blockchain projects. ### **Conclusion** The **MX Token (MX)** is primarily a **governance and utility token** within the MXC ecosystem, offering benefits in **DeFi, staking, fee discounts, and metaverse applications**. Its value is tied to the growth and adoption of the MXC platform. Would you like more details on any specific aspect?
Answered by mistral-small-latest (mistral)What blockchain does MX Token use? Is it its own blockchain or built on top of another?
MX Token (MX) is the native cryptocurrency of the **MXC (MobileCoin) blockchain**, which is a **standalone blockchain** designed for privacy and mobile-first transactions. ### Key Details: - **Blockchain Type**: MX Token operates on the **MXC blockchain**, which is an independent, privacy-focused blockchain. - **Privacy Features**: MXC uses **Confidential Transactions (CT)** and **Ring Signatures** to ensure transaction privacy. - **Mobile-First Design**: The blockchain is optimized for mobile devices, making it accessible and efficient for mobile users. - **Consensus Mechanism**: MXC uses a **Proof-of-Stake (PoS) consensus** model, which is energy-efficient compared to Proof-of-Work (PoW). ### Is MX Token Built on Another Blockchain? No, MX Token is **not built on top of another blockchain** like Ethereum or Solana. It runs on its own dedicated blockchain, **MXC (MobileCoin)**, which was specifically developed for privacy and mobile use cases. Would you like more details on MXC's technology or use cases?
Answered by mistral-small-latest (mistral)Is MX Token programmable? Does it support smart contracts or decentralized applications?
The **MX Token** (MX) is the native cryptocurrency of the **MXC (Metaverse Exchange)** ecosystem, which is primarily focused on decentralized finance (DeFi), gaming, and the metaverse. However, its programmability and smart contract capabilities depend on the underlying blockchain it operates on. ### **1. Is MX Token Programmable?** - **MX Token (MX)** is an ERC-20 token on the **Ethereum blockchain**, meaning it inherits Ethereum's smart contract functionality. - It can be integrated into decentralized applications (dApps) and used in DeFi protocols, but it does not have its own native blockchain with smart contract capabilities. ### **2. Does MX Support Smart Contracts or dApps?** - **No**, the MX Token itself does not support smart contracts or dApps because it is an ERC-20 token. - However, the **MXC ecosystem** (which includes MX) does support smart contracts and dApps through its **MXC Chain** (a separate blockchain). - **MXC Chain** is a **Proof-of-Stake (PoS)** blockchain that allows developers to build dApps and smart contracts. - It uses a **custom virtual machine (MXVM)** similar to Ethereum's EVM, enabling compatibility with Ethereum-based smart contracts. ### **3. Key Use Cases of MX Token** - **Governance** (voting on ecosystem decisions) - **Staking & DeFi** (earning rewards in MXC’s DeFi platforms) - **Gaming & Metaverse** (used in MXC’s gaming and virtual world projects) ### **Conclusion** - **MX Token (ERC-20)** is programmable in the sense that it can be used in Ethereum-based dApps. - **MXC Chain** (the blockchain) supports smart contracts and dApps, making it a more flexible ecosystem for developers. If you're looking for a blockchain with smart contract capabilities, **MXC Chain** is the way to go, while the **MX Token** itself is just a utility token on Ethereum. Would you like more details on MXC Chain’s smart contract features?
Answered by mistral-small-latest (mistral)How fast are MX Token transactions? What is the typical confirmation time and throughput (transactions per second)?
The speed of **MX Token (MX)** transactions depends on the blockchain network it operates on. MX Token is primarily used on the **MXC (Metrix Coin) blockchain**, which is a **Proof-of-Work (PoW) blockchain** designed for high-speed transactions. ### **Transaction Speed & Confirmation Time** - **Block Time:** ~30 seconds (similar to Bitcoin but optimized for faster confirmations). - **First Confirmation Time:** Typically **30–60 seconds** (one block). - **Full Confirmation Time:** Usually **2–3 minutes** (for security, especially for larger transactions). ### **Throughput (Transactions Per Second - TPS)** - **Theoretical TPS:** Up to **~1,000 TPS** (depending on network conditions). - **Real-world TPS:** Around **100–300 TPS** (similar to Bitcoin but with faster block times). ### **Comparison to Other Blockchains** | Network | Avg. Block Time | TPS (Theoretical) | TPS (Real-world) | |--------------|----------------|------------------|----------------| | **MXC (MX Token)** | ~30 sec | ~1,000 | 100–300 | | **Bitcoin** | ~10 min | ~7 TPS | ~3–7 TPS | | **Ethereum** | ~12 sec | ~15–30 TPS | ~10–20 TPS | | **Solana** | ~400 ms | ~50,000+ | ~1,000–3,000 | ### **Factors Affecting Speed** - **Network Congestion:** If many transactions are pending, confirmations may take longer. - **Transaction Fees:** Higher fees can prioritize faster confirmations. - **Node Performance:** The efficiency of nodes processing transactions. ### **Conclusion** MX Token transactions are **relatively fast** compared to Bitcoin and Ethereum, with **confirmations in under a minute** and a **high theoretical throughput** of up to **1,000 TPS**. However, real-world performance may vary based on network conditions. Would you like details on optimizing transaction speed (e.g., fee adjustments)?
Answered by mistral-small-latest (mistral)How much data can I store on the MX Token blockchain? Does it support on-chain data storage?
The **MX Token blockchain** (part of the **MXC Decentralized Network**) primarily focuses on **IoT (Internet of Things) data transmission and decentralized communication**, rather than general-purpose on-chain data storage. ### **Data Storage Capabilities on MX Token Blockchain:** 1. **Limited On-Chain Storage** - Like most blockchain networks, MX Token is not designed for large-scale data storage. - It supports **small metadata transactions** (e.g., transaction details, IoT device status updates) but not extensive file storage. 2. **Off-Chain Storage with IPFS or Decentralized Solutions** - For larger datasets, MX Token likely relies on **off-chain storage solutions** (e.g., **IPFS, Filecoin, or other decentralized storage networks**). - The blockchain may store **hashes or references** to off-chain data for verification. 3. **Smart Contract Data Storage** - If MX Token supports **smart contracts**, they can store small amounts of structured data (e.g., IoT device logs, transaction records). ### **Comparison to Other Blockchains:** - **Ethereum, Solana, or Polkadot**: Support smart contracts with limited on-chain storage. - **Filecoin/IPFS**: Specialized for decentralized file storage. - **MX Token**: Optimized for **IoT data transmission**, not bulk storage. ### **Conclusion:** - **On-chain storage is limited** (mostly transaction-related data). - **For large datasets**, MX Token likely integrates with **off-chain storage solutions** (IPFS, Filecoin, etc.). - Check the **official MX Token documentation** for specific storage limits and supported protocols. Would you like help finding MX Token’s official storage guidelines?
Answered by mistral-small-latest (mistral)Contact Us About MX Token
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