XYO Network The proof of location protocol that connects the blockchain to the real world

April 17, 2018 0 Comments

Introduction

Out of all developed technologies, GPS technology shook the foundations of how we perceive location data. Businesses profited by using this tech the most as it streamlined many of their shipping processes. GPS and GPS related services are used successfully to track locations of assets, the delivery of goods is also monitored on the worldwide market. Many of the vast vehicles land or air entirely rely on GPS for their navigation.By providing a real-time interface that can tell the exact location of the users with an error of just a couple of meters is no small feat!

Various applications are dependent on the location of the user for providing the services. Delivering package through drones or self-driving vehicle, there are many services offered by the companies which require the correct location data of the user. The location data helps companies identify the location of the user to serve them better, and create an innovative solution for the future.

One of the most important aspects of the location data is the accuracy of it and the process of verification. GPS provides a solution to the location queries and people use it all the time on their mobile phone. It may be dependable but yet the spoofing, jamming and cyber attacks happen on the network. This is a critical problem in the emergency situations when we are unable to find the authentic information about the location.

Every invention has its impact on the society and its behaviours. It’s no secret that GPS service providers are subjected to a variety of-of dangers.From malicious attacks to interference that can take down the entire system. One of the main problems is that the service providers rely on a centralized governance system and hackers need just to find these locations, then it’s just a matter of time until they see a way in. A solution must be found as most of the time lives and valuable goods are entrusted in this tech stack.

Is there a solution for the location data? Thanks to the evolution of blockchain, however, GPS technology could be revolutionized once more.

About XYO Network

XYO or the XY Oracles network is a decentralized network layer that will merge traditional GPS systems with a widespread network of terrestrial beacons and other location-based devices. By doing so, users and developers will have the opportunity to interact with the real world in a way that was never seen before. With the help of the Smart Contracts feature, users will be able to query location-based data to trigger a part of a smart contract.

XYO is creating a decentralised network of devices which will be used for tracking of the specific coordinates. The network of devices will allow anyone to track the exact location and offer their services. Smart Contract based services can be utilised on the platform to create a network of trustless and transparent devices, which offer accurate location data. Companies can target the customers based on the location of the user, and thereby deliver the services accurately without mismanagement. For Example, e-commerce companies can deliver the package to the premium customers utilising the XYO network under smart contract.

the XYO Network aims to be the first decentralized cryptographic-location network built for the world of tomorrow where its ecosystem of devices or location oracles can determine if an object is at a specific XY-coordinate. This approach promises the highest certainty possible when queried for the location data and greatly reduces the risk of location spoofing through a chain of zero-knowledge proofs along the components of the system.

Sentinel Network created by the platform is open for everyone. You can join the network of the device to earn the tokens and become the member of the platform. Sentinels (The Data gatherers), Bridges (The Data Relayers), Archivists (The Data Storers) and Diviners (The Answer Aggregators) are four primary components of the platform. They create a reliable chain of location data transfer on the platform thereby connecting millions of the users, who are part of the network. XYO MAIN-CHAIN is public decentralised consensus building network for the critical components of the platform.

XYO token

the XYO Network will feature it’s proprietary utility token. They XYO token will be an ERC20 based utility cryptocurrency that will feature smart contracts. Once the token sale is complete XYO will burn all unused tokens to ensure a fair market value for its early investors and newcomers alike. XYO network will receive incentives representing XYO tokens and as the system scales further, so will the monetary value of the token.

Users will be able to trade it on a select number of exchanges or use it for its utility on the XYO Network. The XYO Token model provides an incentive to miners to not only provide accurate data, but also does not know when to provide no data at all. End users are rewarded for more transactions when network liquidity is low. Thus the ecosystem of Token XYO has the ability to stay balanced, smooth and strong.

Public token sales have a tiered pricing structure that starts at 1 ETH: 100,000 XYO and maxes out on 1 ETH: 33,333 XYO. Details about our volume price and timing of the structure will be announced shortly.

Token info

Periode 2018.03.20–2018.05.21
Token XYO
Platform Ethereum
Type ERC20
PreICO price1 ETH = 200,000 XYO
Price in ICO1 ETH = 100,000 XYO

BONUS

During the Token Sale, there is a tiered pricing structure. The sale price starts at 1 ETH: 100,000 XYO and maxes out at 1 ETH: 33,333 XYO.

Tokens for sale 100,000,000,000
Accepting ETH
Distributed in ICO 47%

Token distributions