XY Oracle Network Main Uses and Advantages

adamgrabril (38)in #blockchain • 6 years ago

The XYO Network is a decentralized network based on blockchain for collecting, storing and analyzing location information. To do this, the XYO network includes nodes, data mining services (geo location devices), and other equipment for storing, processing and analyzing information.

XYO Network is the first secure communication network "proof of location".To implement this plan, a decentralized network of devices will be used - "transmitters", devices - "receivers" and auxiliary devices for broadcasting, indexing, archiving, storing and accessing information. Devices-transmitters can be ordinary devices that contain modules GPS, GSM, Bluetooth, WiFi, various network devices that transmit information about their physical location, IoT devices and others. With the help of these devices, you can determine their location, as well as carry out mutual reconciliation (adjustment).

Devices-transmitters can be ordinary devices that contain modules GPS, GSM, Bluetooth, WiFi, various network devices that transmit information about their physical location, IoT devices and others. With the help of these devices, you can determine their location, as well as carry out mutual reconciliation (adjustment).

The tasks and advantages of the platform

Developers are great fellows and they have tried very hard to create such a platform, the mission of which is to enable existing smart contracts to interact with the real world, that's why everything is already urgently needed to join this network.

This ambitious blockbuster first integrates with the main platforms, and in the future will switch to an independent technology with the support of Dapp.

It was our turn to talk about the main components of the XYO network. There are only four of them, namely: sentries, bridges, archivist and drivers. All components will allow for the network rapid adaptation and form a certain consensus.

1) The sentries. All internal components are a kind of witness, which will focus on heuristics, while producing temporary accounting books.

2) Bridges. They, in turn, transmit statistics from sentries to fortunetellers, and these operations will be confirmed by a certain proof.

3) Archivists. Here all the components of the heuristic are stored in a decentralized form. Even if data is lost or temporarily inaccessible, the system will continue to function, but only the accuracy of the work will be different. Archivists only store raw data and pay only for retrieving data, but storage will always be free. Agree, it is worthy, is not it?

4) Driver. Their purpose is to respond to requests, while analyzing all the data within the network. With this, all heuristics must in turn have a high level of confirmation.

Main Uses of XY Oracle Network:

eCommerce

The data tell us that in the last decade the business of e-commerce is growing rapidly. And as practice shows, it will continue to grow in the years to come. One of the biggest problems for this industry is stolen, damaged and missing packages. Large companies such as Amazon and UPS are waiting to solve this problem, and XYO provides the ideal option. A safe and transparent way to track every step of any party with revolutionary XYO technology.

Medical services and hospitals

There are times when a human medical error leads to the patient's death. Studies show that medical errors are one of the leading causes of death in the world. There are many reasons for this, from improper medical records and unnecessary operations to adverse interactions with medicines and so on. The XYO project can and, I hope, will change it for the best and reduce the number of medical errors and deaths.

Car rental

XYO already works in this area, providing its services to one of the largest rental agencies in the US. Even this may seem like a minor problem. Rental car agencies lose millions of dollars a year from the fact that customers do not return or lose their car keys. The introduction of XYO technology can minimize the number of these cases and at the same time save millions of US dollars.

Problems with logistics at airports

One of the worst things that can happen to a traveler on vacation is the loss of his baggage from the airline. For airlines, this is one of the biggest problems with logistics, the cost of which is billions of dollars every year. By introducing XYO technology, airlines will be able to track every single baggage anywhere in the world and not violate privacy or security.

Insurance companies

This is another business area in which the XYO project is already active, providing an independent verifiable location history for valuable products of insurance companies. Thanks to the introduction of XYO, a large number of false hits and scammers have been discontinued. Many problems of the theft of vehicles and other mobile objects have also been solved.

The system of delivery of parcels with the help of drones

According to some studies, delivery of parcels with the help of drones will become the usual way of delivering goods for many industries. There are many open problems that need to be solved before this business enters the mainstream, but the technology of applying XYO for most of them is already available and ready for use.

National Security Agencies

XYO has contracts with some of the top government security agencies. This fact only proves the size and importance of this project. XYO technology based on blockade technology is used to control firearms in large transport hubs in the United States. Using XYO services, agencies have achieved a higher level of security and made great savings in their budget.

At present, there are many options for using XYO technology, and their number will grow in the future. Without a doubt, we can expect companies to use XYO to reduce their business costs and improve efficiency. In my opinion, this project represents an excellent medium-term investment opportunity for all ICO investors.