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

cryptobench (52)in #blockchain • 7 years ago (edited)

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.

Who Use XYO

As explained previously, the network can be used for almost all sectors. In rental car agencies for example, the network can help track lost keys. A pilot program dealing with customer losing their keys has been implemented. It results in the decrease of the number of lost keys in the rental car company. Medical field can also benefit from the platform. Based on some studies, medical errors can be caused by failure in communication. Those can be reduced by integrating XYO network with the operational framework of the hospital. There are still other fields that needs such services for example e-commerce, TSA Agencies, insurance agencies, drone package delivery system, and many more.

XYO Token Attributes

At the moment, the XYO token sale is being conducted. It will last until 20 May 2018. The token is a type of ERC20. The token sale is a part of XYO network launch. It is necessary for XYO to hold the sale because the revenues will be distributed to power queries in the platform. The price of the token increases within the time. The starting price is 1 ETH for 100 thousand XYO tokens. To know the latest price of the token, you can check the website. Although the sale period is scheduled to be two months, it can be closed earlier if the hard cap is reached. The hard cap is set to be 48 million USD. It is also important to note that all unsold tokens will be burnt after the sale. It means that no more XYO tokens will be generated. So, the only way to get the tokens is through the ICO sale. That is why if you are really interested in the sale and the project, don’t miss the sale period.

The timeline of the ICO sale will be informed in the next review. You will also find out about who is behind the XYO project and how the company set the roadmap for the project.