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Our open-ended architecture ensures that the XYO Network of today will support the blockchain platforms of tomorrow. The XYO Network supports all blockchain platforms that possess smart contract execution . Diviners collect the information transferred from archivists, analyze them and provide accuracy scores to generate them as answers. Diviners try to find out the exact answers from the archivists for the query raised in the smart contract.
- For this reason, we have built the XYO Network to be platform-agnostic at its inception.
- Based on the XYO price forecast, it is predicted to have a minimum future price of $0.042 by 2030.
- Most importantly, the reported signals sending this data must be locked securely and in time for public accountability later on.
Additionally, the current limitation with Proof of Location protocols centers around their complete and total reliance on Ethereum. Indeed, for some use cases (such as micro-transactions leveraged by IoT devices), end users may wish to use a platform that does not charge fees for each transaction. The trustless cryptographic location network provides layered location verification across device classes and protocols. A new cryptographic mechanism called proof of origin & bound witness is combined with blockchain technology and real-world location-based data collection to form XYO Network. In summary, Proof of Location can be understood as leveraging the blockchain’s powerful properties, such as time-stamping and decentralization, and combining them with devices that are hard to trick. Similar to how the weakness of smart contracts centers around oracles that use a single source of truth , crypto-location systems face the same problem.
Sentinels are essentially the devices or signals that verify the location of objects. These include entities such as Bluetooth trackers, GPS trackers, geo-location tracking built into IoT devices, satellite tracking technology, QR code scanners, RFID scanning and many others. XY Findables has pioneered and launched its consumer Bluetooth and GPS business, which has allowed it to test and process real-world location heuristics.
Cryptographic Location Protocol Built For The World of Tomorrow
It takes the information from the sentinels and provides that to the archivist. Bridges transfer the same details without any alteration only by adding Proof of Origin. When the information is transferred, a bridge is used to answer the query, then they will get incentivized using the native token of XYO. The final party of the XYO network system are “diviners,” or the answer aggregators of the network. Diviners are nodes on the XYO Network that answer questions using the bound witness data.
Considering these imminent innovations makes it glaringly evident that our dependence on location data will, without question, eclipse our current usage by an insurmountable magnitude. Securing and creating a trustless source of location information will be crucial to successfully transitioning to the world of tomorrow. Your smartphone or any SentinelX device is a data collector that gathers location, time, temperature and so on. Devices within the XYO network interact with each other, once they got near.
The XBX is the flagship in a portfolio of single- and multi-asset indices offered by CoinDesk. This green paper is the result of our decision to make our white paper more concise. We did this by refining the white paper to contain only the technical details of the XYO Network.
The notion is astonishingly simple, yet up until this point in history, revolutionary approach was not possible. Indeed, the implications of this are profound, yet not fully apparent today. A list of the top XY Oracle markets across all crypto exchanges based on the highest 24h trading volume, with their current price. Most of them are remain dead, some of them are a scam, and there is a little number of cryptocurrency projects that really strives to make a world a better place. Today, we are going to observe the XYO coin as a whole – what XYO is, where and how to trade XYO, how to store XYO, etc. XY Reg A+ shares are not currently traded on an exchange; their value is effectively set by whatever a private seller chooses to charge and and a private buyer chooses to pay.
Lost luggage is a nightmare not only for travelers but also for Airports in general. The XYO Network can resolve this issue by providing airports with verified location data via a decentralized system. Airports can use each other’s networks without compromising sensitive data. XY was founded in 2012, and was qualified by the SEC in 2016 to sell Reg A+ equity. In short, Reg A+ gives companies like XY the ability to offer early stage ownership to customers, supporters, or any other individual. Not only does it give us the capital that is needed to sustain our rapid growth, but it also allows our owners to be part of our entrepreneurial experience.
Interested investors should capitalize on it as the price will rise once the presale ends. On the downside, parabolic SAR was still negative and above the XYO price, showing that overhead pressure from the 200-day EMA and the upper boundary of the flag is very intense, suggesting a continued correction. Moreover, the moving average convergence divergence indicator was moving higher in the positive region away from the zero line, suggesting that more buyers than sellers populated the XYO market. Start understanding blockchain and crypto basics to be more secure and successful in the industry. Ethereum Wallets are aimed to store ETH, Ethereum Classis , Tether and multiple ERC-20 tokens.
Once the package is confirmed to be in the customer’s home (defined and verified by a specific XY-Coordinate), the shipment is considered complete and the payment to the vendor gets released. The eCommerce integration of the XYO Network thusly enables the ability to protect the merchant from fraud as well as ensure consumers only pay for goods that arrive in their home. The XYO Network focuses on making location not only trustless and decentralized, but also identityless. This is achieved by combining a zero-knowledge proof with a cryptographic method we call Proof of Origin, as well as other technologies which will be covered later on. With the advent of blockchain-based, trustless smart contracts, the need for oracle services that arbitrate the outcome of a contract grows proportionately.
XYO can enable users to launch into a protocol of connected devices which provides accurate location information with the help of a chain of the cryptographic protocol. Users can initiate transactions called ‘Queries.’ Queries are used for recouping location data from any blockchain with smart contract functionality. XYO stands to create trustless, decentralized systems or location oracles. XYO cryptocurrency allows developers of the smart contract and blockchain system to interact with the physical world like an API. The system tries to provide exact details with the help of a set of abstractions. This set of abstractions reduced the risks of location spoofing through a chain of zero-knowledge proofs.
In exchange for their participation on XYO’s network, sentinels, bridges, archivists and diviners all receive XYO tokens as a reward. Sentinels and bridges are rewarded XYO tokens when their information is used to answer a question. Archivists are rewarded for the retrieval and use of data, although they aren’t rewarded merely for data storage.
XYO is a blockchain project that was co-founded by Arie Trouw, Scott Scheper, and Markus Levin, towards the end of 2017. XYO Network is a cryptonetwork of smartphones, computers, smart-home devices and more. These devices observe and archive data from the physical world using a special cryptographic protocol. This process, called “Geomining”, is powered a crypto Utility Token called XYO Tokens.
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Overview of XYO Token
When a customer finalizes an order, a smart contract is created which will release payment to the merchant upon successful delivery of the purchased product. The shipment will include an XYO Network Sentinel, a low-cost electronic device that records its interactions with other XYO Network devices on its blockchain ledger. Other devices on the XYO Network will likewise record their interactions with other packages being shipped. Every one of these interactions will be independently verifiable, asserting a web of locational certainty that stretches all the way back to the shipment’s point of origin. When the shipment reaches its destination (as confirmed by its interaction with XYO Network devices within the buyer’s home), the smart contract will be executed and the payment will be released.
After spending a great deal of time and effort structuring our white paper, Christine carried her work even further by applying the same best-practices to our green paper. Last, we thank John Arana for his careful review and creative input for our efforts. The XYO Network believes that the value of a token should remain in direct proportion to its utility, which to some degree relies on the number of transactions it participates in. Many cryptocurrencies today focus almost exclusively on incentivized systems that reward miners; they do not focus on building incentives for token users.
The questions are usually asked by an individual or computer program querying whether something, or someone, was at a certain location at a certain time. Diviners are able to ask the questions to the archivist or go directly to a bridge for the data needed to answer the question. The Bitcoin mining market presents a situation https://cryptolisting.org/ similar to the prisoner’s dilemma . As a whole, Bitcoin would benefit more if market participants collaborated to some degree. However, by design of the system, self-interest typically prevails due to simplicity. Smith understood the natural instinct of humans to operate with absolute rules, rather than rules of negotiation.
XYO is building the world’s first decentralized peer-to-peer data sharing network. Launch the sticker-based tracking product, the “XY-Stick” which enables eCommerce retailers to track every single one of their products in real-time. The project’s presale xy oracle is making headlines after achieving the $2.5 million milestone. Although FightOut has been running just for a few weeks, it has already attracted a huge fan base, with its native token, FGHT, being available at discounted prices for the presale.
The storage in archivists is free, and archivists are incentivized only when the stored raw information has been used to answer a query. Archivists are interconnected, so if one archivist cannot answer a particular query, it will ask the other. Once the XYO Token holder queries the XYO Network and pays the requested gas, all Diviners working on the task call out to the relevant Archivists to retrieve the pertinent data needed to answer the query. The data returned is derived from the Bridges, who originally gathered the data from the Sentinels.
After dropping out of his Ph.D. studies at Bocconi University, Markus began working with companies in hyper-growth industries around the globe. Markus has led cutting edge technology ventures such as Novacore, “sterkly” (yes, with a lowercase “s”), Hive Media and Koiyo. Generally, the greater the Sentinel cardinality in the XYO Network, the more reliable the network. To further grow its network, the XYO Network is engaging with other businesses to expand its network of Sentinels beyond its own network of XY beacons. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence.
Answers with the highest accuracy scores will be selected as answers to upload back to smart contracts. The higher the reward, the faster the query will be addressed by the system. The fear of financial instability or macro-economic threat did not stop the cryptocurrency market from coming to the fore. Despite this new asset class’s high risk and volatility, investors are betting on coins for the long term. The price of XYO is dependent on the underlying utility of the XYO coin name system, ecosystem, and market sentiments.