XYO NETWORK: WHY IT COULD BE SO IMPORTANT FOR PROVABLE LOCATION
The aim of XYO network is to build a decentralized trust less organization of location oracles which can be resilient to attack and creates the most probable certainty when available data is requested. The team behind the XYO network accomplished this using a group of abstractions that massively reduced the issue of locations being spoofed, thanks to a link of proofs that are zero knowledge along with the system components.
Oracles can be defined as the significant part of the infrastructure and power needs necessary for applications that are decentralized, with the majority of focus concentrated on the aggregation and connectivity of those authoritative oracles. The XYO network team believed the necessity for a completely trustless and decentralized oracle system was essential for the maximum performance of the decentralized applications
With the arrival of Blockchain based smart contracts that are trustless, there has been a need for Oracle services able to adjudicate the result of the contract that has been grown significantly. The majority of the operations of smart contracts depend on the aggregated or sole group of authoritative oracles so as to settle the contract outcome. In events where the two parties settle the incorruptibility and authority of the oracle specified, it becomes sufficient. Nevertheless, in a majority of cases, it is most likely an oracle that cannot be deemed appropriate or it doesn't exist, it is not considered authoritative as there is a possibility of corruption or error.
The Team behind the XYO Network
Arie Trouw - CEO, Architect and Founder, a serial entrepreneur who started to write code at the age of ten, has a long list of business successes and technological innovations. He strongly believes in decentralization, which led him to create XY back in 2012. As well as being the CEO, he also serves in multiple capacities as the CFO, COO and the Board of Directors Chairman.
Scott Scheper - Marketing Head and Cofounder, he has a history of having worked on numerous thrilling ventures and in those ventures collaborated with talented persons such as Uber's co-founder. In his time he also founded Greenlamp, which is a completely automated advertising agency.
Markus Levin - Operations Head and Cofounder, with more than 15 years of experience in managing, growing and building firms all around the world
William Long - the Head of Hardware is an expert computer firmware and hardware technologist with more than 25 years of experience in electrical engineering growth and engineering management.
Christine Sako - Analytics Head with a widespread Mathematics background. She manages XY's technology platform, media channels, and its Analytics division.
Some of the Advisors on the XYO network are Tom Kysar, Raul Jordan, Azam Shaghaghi, David Kim, Zack Folkman, and Tristen Blake.
XYO: FUTURE USES
Since the idea of locations being able to be proved has been floating since the 1940's thanks to LORAN, the radio navigation system that was ground-based. In this modern times, there are numerous location services which stack several verification mediums all on each other to build a location proof via GPS services and triangularization.
Nevertheless, the approaches taken are still unable to deal with the most important issue faced in technologies concerning location, which is creating a structure that notices fraudulent signals to deter location data being spoofed. This is why the XYO network is created to be an important crypto location system that concentrates on finding out the source of a signal’s physical location.
Conclusion
To get more information on the XYO network please visit:
Website
ANN Thread
Bounty Thread
Telegram group