The XY Oracle Network: The Proof-of-Origin Based Cryptographic Location Network
XYO is a decentralized and trustless system of location oracles. This system reduces risks of spoofing related to location. System provides high certaintyon location data. To retrieve a location data on block chain network users can issue queries.
Proof of origin:
For transactions orcontracts in system traditional trustless systems provide keys to its customers for signing in the network and it really worked in a good way and makes the data physically and virtually secure. When we apply trustless concepts on IoT (internet of things)then it assumed that edge nodes are not secure physically as well as virtually on the network. So to resolve this dilemma there is a needto identifyedge nodeswithout the use of unique IDs instead of judging the data without knowledgeof network that it is valid.
End to end functionality:
XYO network has some functionssuch as:
Sentinels Gather Data: It gathers data of real world locations and makes the proof of origin by itself.
Bridges Gather Data from Sentinels: It bridges the gathered data from online sentinels and then appends the Proof of Origin to the chain. Bridged data is then available in the network for archivists.
Diviner Fetches a User’s Query:Diviners poll for queries and then answer formulation process is start after sending the queries to ethereum smart contract.
Diviner Formulates Answer: Diviners give the best answer of the query from the archivist network so that it contains best score of origin chain.
XYO Network Components Get Rewarded for Their Work:Proof of origin chain got payments as they are involved in giving the answer of a query. Rewards are given to the Sentinels, Bridges, Archivists and Diviners according to their work.
About Token:
Smart contract platform: Ethereum
Contract Type: ERC20
Token: XYO
Token Name: XYO Network Utility Token
Projected XYO Token Cap: $48 Million
For more details,Visit:
Web: https://xyo.network/index.html
Ann Thread: https://bitcointalk.org/index.php?topic=3040825.0
Telegram: https://t.me/xyonetwork
Author:
https://bitcointalk.org/index.php?action=profile;u=1293114