The Blockchain IoT project Xensor has been officially listed on OKEx earlier this week as the leading derivatives exchange announced the decision. This futuristic project is designed to meet the requirements of smart cities by using IoT blockchain technology so let’s find out more about this amazing project in our blockchain news today.
As a part of the listing, OKEx opened XSR deposits followed by sports trading against USDT and BTC two days later. XSR withdrawals were also enabled. The Blockchain IoT project is founded in Hong Kong by a team of South Korean developers and it is a rapidly emerging blockchain project that works on solving the issues related to IoT network infrastructure implemented in smart cities. With its robust network, Xensor enhances information security by automating specific points of data management such as data storage and transactions. The changes help lower down the costs of constructing an IoT communication network and also reduce the costs.
Acknowledging the importance of the combination of IoT and blockchain, the CEO of Okex Jay Hao said:
“Like blockchain, IoT technology has developed rapidly in recent years, yet it also has some obstacles to overcome. IoT currently suffers from high costs, overly complex solutions, and a lack of standardization. Some of these problems can be solved by integrating IoT with blockchain technology.
For example, blockchain can tackle the issues of data privacy security and value mining. At the same time, it can help reduce high maintenance costs and promote IoT industry standards. We are glad to see the integration of these two high-potential emerging technologies and look forward to seeing the adoption of blockchain by more industries.”
Apart from creating an affordable IoT network to automate the machinery and asset management, Xensor helps optimize the utilization of data. The token XSR can be easily used to trade the data gathered from the networks in a safe fashion. Also, Xensor hardware allows all miners to mine the token as compensation for sharing the data. OKEx is now running in a trading competition that ends today. The competition involved a price pool of 1,200,000 XSR along with the rewards and 550 XSR bonus for the users.
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