Semtech and MXC Foundation Announce Open LoRaWAN® Networks
Semtech Corporation (Nasdaq: SMTC) is partnering with MXC Foundation to develop open networks using the LoRaWAN® protocol, enhancing IoT connectivity on blockchain. This collaboration aims to provide long-range, low-power, and secure wireless communication, benefiting Smart City initiatives globally. MXC's blockchain business model employs 'supernodes' to support decentralized data exchanges, generating cryptocurrency while enhancing network efficiency. The partnership reinforces LoRaWAN as a preferred technology for low-power wide-area applications.
- Partnership with MXC Foundation to advance IoT solutions using the LoRaWAN protocol.
- Focus on Smart City solutions to maximize efficiency and reduce costs.
- Expansion of wireless communication networks in multiple regions including the U.S. and Europe.
- None.
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.
Semtech and MXC Foundation Announce Open LoRaWAN® Networks (Graphic: Business Wire)
“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.”
To learn more about Semtech’s IoT solutions, visit here.
About Semtech’s LoRa® Platform
Semtech’s LoRa device-to-Cloud platform is a globally adopted long range, low power solution for IoT applications, enabling the rapid development and deployment of ultra-low power, cost efficient and long range IoT networks, gateways, sensors, module products, and IoT services worldwide. Semtech’s LoRa devices provide the communication layer for the LoRaWAN® protocol, which is maintained by the LoRa Alliance®, an open IoT alliance for Low Power Wide Area Network (LPWAN) applications that has been used to deploy IoT networks in over 100 countries. Semtech is a founding member of the LoRa Alliance. To learn more about how LoRa enables IoT, visit Semtech’s LoRa site.
About MXC
Based in Berlin, Germany, the MXC Foundation is a purpose built IoT Foundation with the mission to inspire fast, efficient, decentralized data exchanges using LPWAN, Blockchain and Token technology. The MXC Foundation is pairing “MXC” – the pioneer IoT cryptocurrency – with advanced LPWAN technology, developing the next, vital step in the fourth industrial revolution, enabling secure, vastly open and free, lightning fast transactions. Learn more at: www.mxc.org.
About Semtech
Semtech Corporation is a leading supplier of high performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the Nasdaq Global Select Market under the symbol SMTC. For more information, visit www.semtech.com.
Forward-Looking and Cautionary Statements
All statements contained herein that are not statements of historical fact, including statements that use the words “to deploy,” “commitment to,” “designed to” or other similar words or expressions, that describe Semtech Corporation’s or its management’s future plans, objectives or goals are “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Semtech Corporation to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors are further addressed in Semtech Corporation’s annual and quarterly reports, and in other documents or reports, filed with the Securities and Exchange Commission (www.sec.gov) including, without limitation, information under the captions “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors.” Semtech Corporation assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
Semtech, the Semtech logo and LoRa are registered trademarks or service marks of Semtech Corporation or its affiliates.
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