XY ORACLE NETWORK- MORE THAN THE GPS: A CRYPTOGRAPHIC BLOCKCHAIN-BASED PROOF OF POSITION

Hello! My cherished readers, it another day to release to you on this platform an innovative and revolutionary project. I am a writer in cryptocurrencies and a crypto enthusiast. Today I wanT discuss with you the XYO Network: a decentralized cryptographic proof of location network. Stay tuned and read to the end.

 INTRODUCTION

Day in day out, the world keeps advancing, new technologies are proposed, business trends are changing, and above all, the blockchain technology is making a remarkable expansion of the world of technology, and bringing on board great innovative ideas. Imagine a world that location of individual in the physical world is so easy with just a simple proof of location network. A network that makes it possible for fearless and trustless contracts online due to the issue of anonymity and fraud.

A network that verifies location proof in layers on several devices and internet protocols addresses with a distinctive blockchain characteristics that incorporates the Proof of Origin and Bound witness. 

Although there are many ways of locating individuals at any point in this technological world, XYO network places emphasis on the “exact location”. An example of such ways is the Global Positioning System; a navigational system involving satellites and computers that can determine the latitude and longitude of a receiver on earth by computing the time difference for signals from different satellites to reach the receiver, yet there has been no single proof tech that gives accurate location of individuals. Now is the time for you to witness the XYO Network and strike the difference. The dawn of XYO is here. Now let’s dive more into this network.

THE XY ORACLE NETWORK

XYO Network (XY Oracle Network) is an incredible blockchain-based, trustless, network service that has been developed to arbitrate the outcomes of smart contracts in an ecosystem. At the central point of XYO network lies a set of original cryptographic two technical concepts known as Proof of Origin and Bound Witness that binds together blockchain technology and data collection in real times and world, all into a system that uses a direct application. XYO network connect to each other in various and diverse ways due to the fast growing and presence of location-reliant technologies. As such, it is very prudent to ensure validity of location information to safeguard our privacy. Currently, many business contract and proposal are signed online, which requires that the two parties involved must be able to determine their exact location before the contract will proceed.

THE CURRENT SITUATION WITH LOCATION

Although, there are technological advancements as said earlier, such as the development of GPS and other sophisticated device usually bearing the technical term such as “difficult-to-disrupt system” to enable the smooth function of GPS in location data, the so called GPS with its extraordinary and dependability, still faces jamming, spoofing, cyber attacks and other forms of interference. This has the potential for devastating effects on the lives and economic activity of individuals who engage in online business. The outcome is that conducting business online becomes difficult to execute causing many not want to sign contracts online. The XYO Network has the cutting edge to solve this problem.

“The XYO Network makes trustless location data possible through an ecosystem of cryptographic-location technologies in layers and protocols necessary for bridging the gap from the world of today, to the world of tomorrow”. The world is moving fast with techonolgy and as such, a more decentralized means of location data is required to travel along with the fast moving world.

The XYO Network makes it possible for smart contracts across the real world by using the XYO Network’s a decentralized device to determine if an object is at a specific XY-coordinate. Once the location is confirmed, one can set up an application which execute transactions in the smart contract. XYO puts forward and describe the idea an novel, thus completely new and original location network to augment the old system of location networks. Like any other project in the blckchain field, the XYO network is also one of these blockchain project and working meticulously to conceptualize a mutual or reciprocal action for smart contracts for blockchain platforms. Let move on take a look at the goals of XYO Network. The world’s first oracle protocol operates with a bluetooth and GPS devices that bridge everyday consumers/customers to tag tracking devices on things they want to keep track of.

“The goal of the XYO Network is to augment systems of proof of location into a difficult-to- interrupt one, through the creation of a trustless, decentralized (no third party) system of location oracles that is resistant to attack and produces the highest certainty possible when queried for available data”.

HERE ARE THE COMPONENTS OF THE NETWORK

The XYO Network is made up of the following primary components:

1. The Sentinels: These are also referred to as data gatherer. They are said to witness locations and depends on the utilization of radio frequencies and sensors to gather location information. This is done to help the bridges have their sources of data.
2. Bridges: The are referred to as data relays. Like the operation of a relay neuron, the bridges will pass information from Sentinels over to the public blockchain. Bridges take these data and provide them to Archivists. The Archivists trust the data source once it was relayed by the bridges because such information are considered uninterrupted.
3. Archivists: (data storage devices) store location information from Bridges in a decentralized form with the goal of having all historical ledgers stored.
4. Diviners: which access the information in order to verify location or answer queries.
5. XYO Main Chain: Stores query transactions along with data gathered from Diviners

 
 XYO NETWORK TOKEN

Information about the XYO Token Generation Event will be revealed soon. but you can reserve your spot in the token sale by getting Whitelisted HERE as soon as possible. Below is a description of the token

1. Smart contract platform: Ethereum
2. Contract Type: ERC20
3. Token: XYO
4. Token Name: XYO Network Utility Token
5. Token Address: 0x55296f69f40ea6d20e478533c15a6b08b654e758
6. Total issuance: Finite and capped at the amount reached after the Token Main Sale.

XYO NETWORK TOKEN

Information about the XYO Token Generation Event will be revealed As soon a possible. To participate in token sales, you can reserve your spot in the token sale by getting Whitelisted HERE as soon as possible. Below is a description of the token.

1. Smart contract platform: Ethereum
2. Contract Type: ERC20
3. Token Symbol: XYO
4. Token Name: XYO Network Utility Token
5. Token Address: 0x55296f69f40ea6d20e478533c15a6b08b654e758
6. Total issuance: Finite and capped at the amount reached after the Token Main Sale.

The XYO Network will be fueled by the XYO Token which will be the “gas” required to interface with the physical world to help in the verification the XY-cordinates of a particular object. The XYO Token is an ERC20 based built on the Ethereum smart contract platform. The pricing structure starts at 1ETH: 100,000XYO and maxes out at 1ETH: 33,333XYO . 

The amount pulled at the end of the Token sales will determine the hard cap. The Tokens, once purchases during the sale becomes a finite, scarce resource, since non will be generated again. So this will benefit those who purchased tokens during the sale.

TOKEN DISTRIBUTION

TEAM WORK

A comprehensive profile of the XYO network TEAM can be found on the website

Visit any of the links below for other relevant information

RELEVANT LINKS

1. XYO network website: https://www.xyo.network/
2. XYO network white paper: https://xyo.network/whitepaper
3. XYO network Telegra: https://t.me/xyonetwork
4. XYO network Ann thread : https://bitcointalk.org/index.php?topic=3040825.0
5. Bounty thread: https://bitcointalk.org/index.php?topic=3053801.0
6. XYO network facebook: https://www.facebook.com/xyonetwork

AUTHORSHIP

Bitcoin forum username: Sergio444

forum profile url