Ares Protocol and MXC Foundation have established a cooperation to co-build the Polkadot Data Cross-Chain Market
Ares is pleased to announce a partnership with MXC Foundation, a team founded in 2017 in Berlin, Germany, with a core team that comes from an IoT background. It has already rolled out a distributed IoT network in more than 80% of countries around the world. They are committed to using IoT + blockchain technology to create a smart city where everything is connected. Working with such a great team, we see the infinite possibilities of decentralized Oracle and decentralized IoT cooperation.
Validation and sharing of data
First, when MXC Foundation IoT collects trillions of data, Ares Protocol, as a decentralized Oracle, will perform third-party data provisioning. It ensures that the data is authentic, valid and secure. Once IoT devices are connected to the decentralized Oracle, they can transmit data to the blockchain more securely, record the data on the chain, and output extremely reliable data.
At the same time, Ares Protocol, in partnership with MXC Foundation, will link IoT and real-world trusted data, providing blockchain developers with the infrastructure and tools to link physical world data and perform trusted computing. Ares Protocol will enable access to off-chain data such as smart cities, IoT sensors, etc.
Data on-chain applications
Secondly, Ares Protocol transfers off-chain data from MXC Foundation to on-chain decentralized applications, bringing diverse data to DeFi to build a data marketplace and extending the DeFi protocol to allow data from IOT devices to generate greater value.
Co-Building the Polkadot Data Cross-Chain Market
MXC Foundation is the first project to join DataHighway and participate in the slot auction jointly with DataHighway; DHX is the medium for data trading by communicating different chains and transporting data across chains; Ares Protocol will build a data cross-chain market with DHX for Polkadot ecosystem. Increase the amount of data transmission per unit time of the Oracle, and drive on the data highway.
About MXC Foundation
MXC Foundation is a distributed IoT network spread in 80 percent of the world. Based on LPWAN technology, they are committed to building a smart city with wide coverage, low power consumption and benefits for everyone. MXC Foundation is the first project to join DataHighway and participate in the card slot auction with DataHighway.
About DataHighway
DataHighway is the world’s first cross-chain data exchange based on the Polkadot ecosystem, created to act as a bridge between blockchain projects such as MXC Foundation, IPFS, IOTA and HT. members of the MXC Foundation and DataHighway communities will eventually be incentivized to operate a complex network of Polkadot-based MXC Foundation will connect to DHX as the first IoT Layer2 scaling solution, moving from Ethernet scaling to the Polkadot parachain.
About Ares Protocol
Ares Protocol is a decentralized cross-chain Oracle that truly implements a new generation of cross-chain Oracle service protocol for data on-chain verification, and is the first to open a compensation channel for data users who suffer business losses from using Oracle data.
Ares Protocol is a stochastic secure Oracle solution developed based on the Substrate framework, supporting hybrid Babe and off-chain workhorses, incorporating Poca’s latest on-chain governance, bringing the Optimistic Rollup challenge model into the Oracle space, supporting the Ink contract ecosystem, and bringing better quality Oracle services to DeFi developers.
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