What makes XYO different from Other Crypto-Location Oracle Networks
Smart Contracts, like those used by Ethereum and other cryptocurrencies, will fundamentally change the way we interact and do business by streamlining processes, reducing risk, and cutting out middle men. One thing all Smart Contract platforms lack, however, is a definitive way of proving that something or someone was in a given location at a specific time. An authoritative, trustless, and decentralized proof of location oracle is essential for the idea of Smart Contracts to be adopted by the mainstream world.
The XYO Network will be will be the definitive location oracle as a result of two center ideas it presented: Proof of Origin and Bound Witnesses. The idea of Bound Witnesses ensures that two unique segments of the XYO Network were in a similar area in the meantime. Confirmation of Origin guarantees that the data a segment gives is legitimate and impervious to adulteration. Point by point data on both of these ideas is accessible in the XYO Network white paper.
The XYO organize has worked towards a conceivable developer concept, for example, They compose smart contracts for the blockchain stage, to associate with the physical world as though it were an API. The XYO Network is the world's first prophet made convention enables two substances to execute in reality without a brought together outsider. Our reflections enable us to check areas without trust to developers, making a Protocol with new utilization cases that have not been empowered right up 'til today.Giving legitimate verification of area can possibly change the world. Here are only a couple of ways the XYO Network will upset existing enterprises.
The XYO Network boosts the detailing of areas and filing of records by granting XYO Tokens to hubs inside the web. For instance, when a last-mile messenger like an UPS driver experiences a XYO Network hub on their course, the hub will record their XYO Network record to be chronicled. Utilizing cryptoeconomics along these lines exploits a key element of blockchain technology — it's a trustless, decentralized framework. This implies it can offer outsider check and a level of unwavering quality that present following frameworks can't give.
PROBLEM
As per a current report discharged by Comcast, over 30% of Americans have had a bundle stolen from their patio or doorstep [1]. As the piece of the overall industry of eCommerce keeps on developing, this issue will just turn out to be more pervasive. Megasites like Amazon are trying different things with various answers for offer affirmed secure conveyance as a top notch administration to their clients.
Arrangement
By using the XYO Network and XYO Tokens, organizations can offer a freely affirmed record to track each progression of a shipment's advance, beginning at the satisfaction focus and closure with the bundle's safe conveyance inside the client's home. As a trustless and decentralized framework, the XYO Network gives autonomous affirmation of a bundle's conveyance, as well as of its whole sending history. This likewise permits a retailer or eCommerce site to offer installment upon conveyance, using an Ethereum shrewd contract to shield the vendor from misrepresentation or misfortune.
How it Works
At the point when a client finishes a request, an Ethereum brilliant contract is made which will discharge installment to the dealer upon fruitful conveyance of the bought item. The shipment will incorporate a XYO Network Sentinel, an ease electronic gadget that records its connections with different gadgets on the XYO Network on its blockchain record. Other XYO Network gadgets will in like manner record their collaborations with bundles being dispatched. Each one of these connections will be freely undeniable, declaring a web of locational assurance that extends the distance back to the shipment's purpose of cause. At the point when the shipment achieves its goal, as affirmed by its communication with XYO Network gadgets inside the purchaser's home, the shrewd contract will be satisfied, and installment will be discharged. Ought to there be a debate, the record will give a history that can affirm the conveyance of the shipment or show where it went off track.
The terminal purpose of the transaction — the point where the bundle is conveyed and installment is released — will be resolved at the time the request is put. Amazon has tried different things with numerous protected conveyance frameworks, incorporating lockers in broad daylight places like accommodation stores and even electronic locks that give their conveyance group access to clients' homes. XYO Network gadgets inside these safe areas will affirm conveyance. In an Amazon locker, the dispatched bundle will interface not simply with its locker, but rather with XYO Network gadgets in different lockers and the clients that utilization them. In the client's home, the XYO Network hubs could incorporate the client's telephone, IoT gadgets, and even the Amazon Echo that was utilized to submit the request.
XYO NETWORK COMPONENTS
The XYO organize has four essential components,sentinels,Bridges,Archivists and Diviners. These four segments empower geo - centered accord building and trustless confirmation of area information. This implies when you compose a smart get that indicates for a question show up at a particular XY-organize, on the off chance that it shows up there, you will realize that it was at that area with total conviction. This is altogether managed without danger of caricaturing the area flagging device(s) checked by a huge number of Sentinels in the XY Oracle Network with the longest Proof of Origin chain (subsequently yielding more prominent trust in the heuristics).
Sentinel segments are heuristic witnesses. They watch heuristics and vouch for the assurance and exactness of the heuristic by creating fleeting records. The most imperative part of a Sentinel is that it produces records that Diviners can be sure originated from a similar source by adding Proof of Origin to them.
Extensions are heuristic transcribers. They safely transfer heuristic records from Sentinels to Diviners. The most vital part of a Bridge is that a Diviner can make certain that the heuristic records that are gotten from a Bridge has not been changed at all. The second most imperative part of a Bridge is that they include an extra Proof of Origin.
Annalist segments store heuristics in a decentralized shape with the objective of having every single recorded record put away, however without that necessity. Regardless of whether a few information is lost or turns out to be briefly inaccessible, the framework keeps on working, however just with lessened precision. Filers additionally record records with the goal that they can restore a string of record information if necessary. Chroniclers store crude information just and get paid just for recovery of the information. Capacity is constantly free.
A Diviner answers a given inquiry by examining authentic information that has been put away by the XYO Network. To achieve this, heuristics put away in the XYO Network must have an abnormal state of Proof of Origin to quantify the legitimacy and exactness of the heuristic by judging the witness in view of its Proof of Origin. Given that the XYO Network is a trustless framework, Diviners must be boosted to give legitimate investigation of heuristics. Not at all like Sentinels and Bridges, Diviners utilize Proof of Work to add answers to the blockchain.
XYO Token Specs
Public token sales have a tiered pricing structure that starts at 1 ETH: 100,000 XYO and maxes out at 1 ETH: 33,333 XYO. Details about volume and price based on our time structure will be announced soon.
• Smart contract platform: Ethereal
• Contract Type: ERC20
• Token: XYO
• Token Name: XYO Network Utility Token
• Token Address: 0x55296f69f40ea6d20e478533c15a6b08b654e758
• Total issuance: Finite and capped at the amount achieved after the Token Main Sale
ROADMAP
Join us in our commitment to build a decentralized world.
XY has built the world of open location verification since 2012 by launching a successful consumer GPS-GPS business that is essential for understanding and building a real-world location network. Currently, XY has more than 1,00,000 beacons worldwide.
2017
XY Releasing Ground Tracking Device Tracking: The "XYGPS"
XY launched the world's first GPS hybrid and Bluetooth enabled device. XYGPS can report its location anywhere in the world where Cellular data and GPS are available.
XY Releases XY4 + Device
XY released an XY4 + device that makes it capable of operating as an XYO Network node through firmware updates.
For more information visit the link below as source Reference:
Website: https://xyo.network/index.html
Whitepaper: https://xyo.network/whitepaper/
Twitter: https://twitter.com/XYOracleNetwork
Telegram: https://t.me/xyonetwork
Facebook; https://www.facebook.com/xyonetwork
Authored by Danny_yell: https://bitcointalk.org/index.php?action=profile;u=1273420