XYO Network - Blockchain based location tracker.
Blockchain
Blockchain was invented in 2008 by Satoshi Nakamoto who is credited as the first person who invented first digital currency 'Bitcoin'. Blockchain is capable of solving almost every mystery of the universe and can help create wonders. Blockchain can be utilized in every walk of life. A few people are aware of this amazing technology but slowly blockchain is expected to rule the world in coming years and the steps are being taken by many governments to utilise this great invention. Blockchain is almost introduced everywhere and this innovation has been adopted by all sections of the society. It has created new foundations for global economic and social systems. Blockchain Technology has brought efficiency to global supply chains, financial transactions and decentralized social networking. Blockchain technology has now been used to lay basis for the XYO network which is blockchain oriented Location data to create cryptographic trustless location network.
GPS (Graphic Positioning System)
GPS Technologies has infinite possibilities where our imagination can be the only limitation. GPS is versatile and can be found in any industrial sector as it has many benefits and that can be the reason it has become an important aspect of our lives. The system is also used in defence operations and in agricultural sectors. It's applications can be broadly classified into 5 major categories.
- Location - Determines a position.
- Navigation - Travel from one position to another.
- Tracking - Helps to monitor personal movement.
- Timing - Bringing precise timing of world.
- Mapping - Used to create maps of world.
The applications for which GPS is used include mining, aviation, surveying, marine, military etc. People from different walks of life which include doctors, scientists, farmers, soldiers, pilots, sailors, traders are using GPS system to make their work more productive, safer and easier.
XYO- Platform To Bring GPS and Blockchain Together
Most of us may not have thought of bringing Blockchain and Location Data in one platform but that is excatly what XYO network has made possible. The goal is to create a system of location oracles that are decentralized with the use of blockchain technology. The location data should be secure enough to resist any form of manipulation of the data they collect and that can provide precise and accurate location data when requested. The Location Data of the users needs to be accurate as we see most of the transactions in the economic sector are done through a third party interference. XYO network has created a trustless network which means there is no need of the third party for the conduct of the transactions. Small contracts are used as the third party of the system. Small contracts track the location with the network components like Sentinels, Bridges, Archivists, Diviners and the give the proof of origin to create a decentralized system of location oracles.
XYO Network Can Be Our Future
XYO network gives us the location data of the nodes of the network. This location data is something we can trust and it becomes obvious that the use of this system will grow with time as it will give us data which we can trust. The data will be more accurate and this accuracy will lead to greater applications of the network.
The system can be first of its kind which can be used for direct defence operations. It can be termed as a well designed network waiting for its adoption by military departments.
In the trading of the crypto assets the location data from this network can be used more as it is more trusted by giving secure way of making transactions.
It will help to reduce the theft of the physical assets like mobile phones, laptops, cars as the location data provided by this trustless network will be of high standards.
E- Commerce will be the field where XYO Network can play a huge role. The tracking of the products which have been ordered online by the customer can be a huge application of the XYO network. It will help to know about the delivery time and the current status of the product.
The XYO Network is in its starting phase. Their ICO is currently running and the XYO tokens can be purchased in the sale from the website. The ICO will run until 20th May or if hardcap is met.
Further links for XYO Network
Website
Whitepaper
Twitter
Facebook
Telegram
Bitcointalk ANN
Bitcointalk Bounty
This is not a financial advise, do your own research before investing in any ico or cryptocurrency
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