XYO Network; Value Analysis

toluene (47)in #crypto • 8 years ago

In this article, I will be evaluating the worth of XYO Network with the value analysis, where I will consider factors like the value of the project, how rare it is, how hard it is for imitators to imitate the major features of the project.

Value

A project is deemed to be valuable if it provide solution to existing problems.

XYO Network not only provides solution to the problem with present location service but also offer services that can be used as the bases for innovation in other industries. XYO offers businesses, government and other personal the chance to use location services to better the activities. It also offer individuals the chance of making extra money by being sentinels (location witnesses).

XYO Network also solve the problem developers face with the integration of real world devices and assets with the Blockchain by offering a platform that allows smart contracts to effectively interact with the physical world as if it was an API.

The uses of XYO Network are not restricted to a particular industry or people, which make it extremely valuable.

Rarity

A project is said to be rare if it offers exceptional services or has unique features.

XYO Network is the first of its kind, which means it services and features are unique. Though there are location service applications (like GPS) that offer location information, but they are plagued with lack of trust and are prone to hack and attack.

XYO Network offers location services in a unique and exceptional way. It utilizes the Blockchain to provide trustless and tamperproof location information, which makes it different from every other location verifying platform. It also offer a unique service that has not been possible since the advent of Blockchain, the ability of smart contracts to interact with the physical world asset effectively.

XYO Network unique features are what make it rare.

Imitation

Imitation is the major threat faced by any project. It means how easy or hard it is for imitators to duplicate the essential features of a project.

XYO Network faces little threat from imitators, as the problem it solves has been evident for a long time but no project has been able to come up with a good solution to it. The technology behind the development of the project is a bit technical and will take experts to get the masterpiece.

XYO Network offers developers the ability to integrate physical asset and devices with the Blockchain through the use of smart contracts that interact with real world asset like API. This has not been possible before the existence of XYO, as previous projects has found it difficult. Existing and upcoming projects will recognize XYO as an ally and not a competitor as XYO will be useful for them to offer more services that require the use of real world asset.

Though there is still possibility of competitors springing up, but it is minimal.

Organization

The team of XYO Network consists of experts and professionals with vast level of experience behind them. XYO Network has three co-founders and 17 team members, who are well experienced having worked it reputable organizations.

The team is extremely capable of delivering this project.