XYO – A Dependable and Accurate Data Location Built on Decentralized Network

siskaaulia (25)in #blockchain • 6 years ago

Location data is used every day across the world. Societies and economies are becoming increasingly reliant on the certainty and security of location heuristics. Self-driving vehicles, package-delivering drones and smart cities will likely call for an increased reliance upon trustless location data. The adoption of the technologies of tomorrow centers on their ability to trust location heuristics they receive from an off-chain resource.

Location data are used in nearly all sectors primarily the ones associated with economies and societies. They rely on the location heuristics. Until today, GPS has been widely used for that purpose. Everyone agrees that this system is dependable and accurate. However, GPS is also prone to spoofing and cyber attracts not to mention other minor interferences. Of course, it can ruin the economic activity and the people’s lives. As the current location technologies cannot provide safe and reliable properties, a more developed ecosystem is needed to develop. XY Oracle is the answer to this problem. It builds trustless transactions utilizing crypto-location components to bridge the gap between today’s condition and the future world.

The Mission of XYO

Until today, XYO has reached 1 million beacons. The mission of XYO is to fully integrate the smart contracts with the real world. It will work like if it were an API. XYO will reach wider users to join its decentralized location-reliant trade markets. The XYO team is continuously opening up their networks to trigger more blockchain developers to join the interaction with the real world.

The XYO Network introduces a source of location data that originate from a vastly distributed network of interconnected devices that can deliver the data that location-based smart contracts require for execution.

The XYO Network has four primary components: Sentinels (The Data Gatherers), Bridges (The Data Relayers), Archivists (The Data Storers), and Diviners (The Answer Aggregators). These four components enable geo-focused, consensus-building and trustless verification of location data. This means that when you write a smart contract that specifies for an object to appear at a specific XY-coordinate, if it appears there, you will know that it was at that location with absolute certainty.

Sentinels gather location information via sensors, radios, and other means. Bridges take this data from Sentinels and provide them to Archivists. Archivists store this information for Diviners to analyze. Diviners analyze location heuristics from Archivists in order to generate answers to queries and assign accuracy scores to them. Diviners then relay these answers back into a smart contract (thus, Diviners serve as oracles).

XYO Network aims to create a trustless, decentralized system of location oracles that is resistant to attack and produces the highest certainty possible when queried for available data. We accomplish this through a set of abstractions that greatly reduces the risk of location spoofing through a chain of zero-knowledge proofs along the components of the system.

Key Features of XYO Network

Token Sale Details

The XYO Network will rely on an ERC20 token called the XYO Token used to incentivize the desired behavior of providing accurate, reliable location. The XYO Token (XYO) is a utility token that smart contract developers can use to access geo-location verification from the real world. In order for your smart contract to access the outside world, it must use the XYO Network, which requires use of the XYO Token.

Token Name: XYO Network Utility Token
Token: XYO
Start: March 20th, 2018
End: May 20th, 2018
Token Price: 1 ETH = 100,000 XYO initially and 1 ETH = 33,333 XYO at max.
Token Cap: $48 Million
Contract Type: ERC20
All unsold and unallocated tokens will be burned after the token sale event.