The Internet of Things (IoT) promises to radically change the way we live, as many industry analysts are certain that it will see a rapid expansion to every single machine we use in the next few years. Samsung, among other companies, is promising to have most of its products IoT compatible by the 2020. To do that, the Korean multinational conglomerate experiments with Blockchain solutions, such as Exxor.
Exxor, a cryptocurrency project for decentralized, secure and zero-fee machine to machine (M2M) interactions, will play a major role in Samsung IoT products, according to a press release. Exxor CEO, Kelvin Rodgers, explains:
“It is currently an ongoing agreement and there are a lot of technical decisions to be made before we can launch at full scale. We have not yet implemented the technology to any Samsung’s devices yet, but we plan to do so in the next 6-12 months”
EXX will be a cryptocurrency for IoT-enabled devices. The Exxor protocol uses Directed Acyclic Graphs (DAG), does not require mining and promises 0% fee transactions between devices on the network.
See a feature by feature comparison between Exxor and other IoT blockchain solutions:
“Considering that M2M technologies have the capability to help us improve our world for the better, Exxor represents an important step forward on this quest as it caters to the shortcomings of the current system of digital currencies in the IoT platform,” Kevin Rodgers concludes.
Exonic Ltd, a London-based company, embarked on a mission to contribute to the emerging IoT market. Exxor’s pre-ICO started on October 12 and will be running until October 26.