XYO Network
XYO.NETWORK is block-chain based first ever proof of location Oracle network. The aim of the XYO.NETWORK is too decentralized location accurate position trade markets. The XYO.NETWORK site claims that reliant location deal industries are an over 10 Trillion USD marketplace three times bigger than the full e-commerce filed.
How XYO.NETWORK Block-chain Does base Proof of Location Oracle Work?
XYO.NETWORK goals to take benefit of a location identifying beacons that are previously in place globally. XYO.NETWORK wishes to leverage this system to decentralize location confirming services. In diff means, you can sell location info online to support many services that trust on location info.
The XYO.NETWORK site describes that there's already over one million location identifying beacons in their network now, with more added to the XYO.NETWORK each day. The planet becomes more and more dependent on location info. Self-driving cars parcel delivering system able of talking location info from an array of various location tracking equipment!
XYO.NETWORK sees itself as the solution to that issue. It facilitates trustless place info using a system of virtual location techs and protocols. All in the world is defined by their XYZT coordinates. Physical elements can’t leave that space. All from cars to jewelry to people can be tracked applying these coordinate.
The T refers to time, as people tour along using T coordinate, they interact with one more to make what is called metadata. Two people may hold a conversion, for instance, the discussion serves as a record of that deal. Here is how
XYO.NETWORK explains what occurs next:
“The discussion is a record of the communication. In the case of the XYO.NETWORK, they are taking this communication as the time signature among these 2 parties – 2 people taking a selfie, making 2 copies of the selfie, signing both of them, and any taking one. That metadata which was made is now also an enduring link between the 2 entities; this is a deep protocol that underlies the XYO.NETWORK’s platform.”
The final result is a decentralized, crypto-graphic location network built for the job of tomorrow.
Use Cases for XYO.NETWORK
The consumer can interact with XYO.NETWORK is a variety of diff ways, including via the use of intelligent agreements. The user can use these agreements to determine if an object is at exact XYZT coordinate, if it’s at that coordinate, the smart agreement can execute some features based on this info.
XYO.NETWORK purposed use case in an e-commerce firm which offers payment upon delivery to some premium clients. To offer this amazing service, the e-commerce firm needs to use the XYO.NETWORK to write an intelligent agreement. The XYO.NETWORK will find the location of the parcel across the supply chain from the warehouse shelf to the shipping area, taking it entirely the way into the client’s home and each location in between. This could permit e-commerce retailers and sites to identify, in a trustless manner that the parcel not just appeared on the client’s doorstep, but is also safely inside the client’s home.
Once parcel safely inside the client’s house, the money is released. Via this system client can pay for items after they receive items. And E-commerce service can offer this service with no compromising security.
Features of XYO Network
XYO.NETWORK emphasizes the entire of the following features:
Trustless: Trust and Power are shared among XYO.NETWORK participants. It is not concentrated in a few centralized entities.
Decentralized: Confirmation doesn’t involve any huge, fee-based corporations or institutions. The network runs on a totally clear and independent system. The system is free of cost to use and has no access barriers (for fair rivalry).
Proof of Origin: This is the key to identifying that ledger flowing into the XYO.NETWORK is valid. It trusts on the idea of a Bound Witness. It also uses “Transient Key chaining” to create it impossible to fake the chain of a source for data. The entire oracles are identified using an “Origin Chain Score.”
Identity-less: Location information is shared namelessly to protect the privacy and safety of contributors on the network.
Bound Witness: Bound Witness permits Origin Chains to be built for use in determining POO while maintaining a trustless, NIL knowledge proof system! The XYO.NETWORK ensures that nodes were in proximity to any other, identifying that the node provided correct location data.
Multiple contributors: XYO.NETWORK will have many participants, including Sentinels, Diviners, Archivists, and Bridges. All of these contributors can be considered XYO Miners.
XYO Tokens:
XYO tokens are applied to incentivize desired behavior on the XYO network. They can be considered of as the “gas” required to interface with the actual world to confirm the XY coordinates of an exact object.
The XYO ICO Details
• The ICO detail for XYO tokens is taking place from March 20th Mar to May 20th, 2018.
• The tokens are being sold at the cost of one ETH = 200,000 XYO token during the pre-ICO, rising to one ETH = 100,000 XYO token during the major token sale.
• Every token unsold after the ICO will be burned
Who is Behind XYO.NETWORK?
XYO.NETWORK is being made by a company called XY. That company has reportedly been creating the technologies behind the system for many years.
XY has previously built one of the biggest networks of GPS and Bluetooth beacons on the planet. They have released GPS tracking techs like the XY-GPS, the world’s primary hybrid GPS and Bluetooth device able of reporting its position from anywhere in the globe where cell and GPS information is available. They have also released the XY4 plus device.
XY Company is based in San Diego, California. The XY was founded by Arie Trouw. Other main members of the team include Markus Levin and Scott Scheper, who joined the XY as co-founders.
XYO Network plans to launch its major network in 2018. The token sale for XYO tokens is hoped to conclude on May 20th. XYO.NETWORK already has an existing network of position-tracking devices, including hybrid GPS and Bluetooth devices able of tracking position anywhere on the planet.
For more info on the XYO Network, visit:
Website: https://xyo.network/
Whitepaper: https://docs.xyo.network/XYO-White-Paper.pdf
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