Location data paradigm

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You might ask yourself, how can large freighter vessels or multi-ton planes have the ability to navigate through seemingly unknown places? Well, the answer to that is just GPS. A technology stack so powerful and disruptive that it changed the way we think today about social and economic movements. Having the ability to track anything with an error threshold of mere feet or meters is still even today a mind-boggling concept. Traditionally speaking, these systems have been entrusted to centralized organizations, and rightfully so because the ones that work with it know best how to deploy it and make use of it.

But operating this way has it’s downsides as well, and these downsides are sometimes scary because they can put people’s lives in danger. From hacker attacks to mere interferences are just some of the risks of operating in a single point of presence. With the help of blockchain technology, however, this pervasive technology stack can be innovated upon, and problems like these could become obsolete!

The XYO Network: the new GPS revolution!

With the help of a state of the art decentralized blockchain system and a globally widespread network of terrestrial location data devices, the XY Oracle Network plans to take the GPS world by storm! By employing a series of cryptographic protocols that can abstract security layers in the current location data networks, XYO can achieve a decentralized ecosystem that will provide 24/7 redundancy to the location data industries. With the help of the ERC20 based XYO token, developers will be able to query reliable location data directly from the network and use it as a base for a virtually endless variety of Smart Contracts.

The XYO token is a utility token that can be used for services within the XYO ecosystem or just trade it for its monetary value on a select few cryptocurrency exchanges. By some estimates, the location data industry is estimated to a whopping 11 trillion USD. If the technology behind the XYO Network is genuinely disruptive and the team delivers on constant development, the token holders will undoubtedly rake in long-term profits.

How does the network work?

The XYO network has a set of proprietary actors that create a full cycle in the ecosystem. The sentinels or the data gatherers will source location data from a wide array of hardware solutions. The data is then relayed through the bridges that will ensure the safety of the ecosystem via the Proof of Origin module.

Then the archivists will store this data in a decentralized ledger to prescribe all of the historical data throughput, needless to say, that these publicly distributed ledgers are tamper-proof as they are based on the append-only architecture.

Then the diviners represent the trump card of the XYO network; they will source the most reliable and accurate location data for the query deployment through the XYO API. With the help of poll procedures, the diviners will access the blockchain infrastructure to trigger the created Smart Contracts that feedback into the ecosystem.

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