What is the XYO network?
Developed by the XY Findables workforce in early 2017, the XYO network (also acknowledged as XY Oracle Network) is a network of geospatial information assortment and validation gadgets developed on the Ethereum Blockchain. Simply place, XYO Network is a geo-encrypted network that will allow verification on various gadgets and protocols. The XYO coin is the key token of the task.
Problem solved by XYO Network
Today, we are not all strangers to satellite-to-personnel spot solutions, if you need to have to buy foods or just see the spot of the Grab driver you are reserving. Anything that needs entry to spot information.
Every mobile gadget now is outfitted with a GPS sensor itself and this technologies has brought fantastic added benefits.
Proof of place was very first made use of in the late 1960s and was very first implemented on the blockchain in 2016 when an Ethereum-primarily based firm, Sikorka, launched it. However, the crypto-spot blockchain faces the identical difficulties as other blockchains in that they have to use Oracle to attain consensus. This prospects to it remaining quickly manipulated.
The key issue that the crypto-spot blockchain desires is an off-chain gadget that reviews and data the bodily spot.
XYO Network will handle this difficulty by way of the “Proof of Origin”, which presents the spot-primarily based evidence of idea that underlies the elements of the XYO protocol.
Highlights of the XYO network and how it performs
XYO Network consists of 4 key pillars:
– Sentinels: As the title suggests, Sentries gather spot details by way of sensors, radios and receivers. You can imagine of it as a observer, information collector and check for other Sentinels. All spot information is saved in a heuristic log for use by other departments.
– Bridges: Data converter. Bridges acquires spot information from Sentinel and transmits it to the host. You can imagine of Bridge as a bridge connection of Sentinel registers with XYO Network.
– Archivist: The clerk obtains the spot information from the bridge and retailers it for the Deviners. You can imagine of Archivist as a financial institution that “keeps” all the ledgers collected by the Sentinels. Archivist they also index the ledger so they can return a string of information if necessary. They only retail outlet raw information and are only paid to retrieve it! They perform a extremely significant purpose in the network, as they generally retail outlet all ledgers collected in the network.
– Fortune tellers: Diviners analyze the place heuristics of Archivists to make solutions to concerns. The diviners then relay these responses in an intelligent contract (as a result, the diviners act as oracles).
Together, these 4 elements perform collectively to make a extremely fascinating and fully decentralized Oracle network.
Token use situation
XYO is a native utility token in the XYO Network platform made use of for:
- Developers: For developers, they can make geoapps that connect to the XYO network. If you need to have to use geographic information, you need to have to use XYO tokens to spend for information entry.
- Companies: Companies that need to have to use Oracle spot-primarily based peripherals or networks will use XYO to spend for satellite information entry.
- In addition, XYO also has pretty substantial applications in various fields this kind of as: Aviation (passenger baggage monitoring), eCommerce (standing monitoring of items in transit, …), Healthcare (capability provision). identification of individuals and health-related personnel, lowering mistakes in the doctor’s prescription approach), Insurance (presents the likelihood of discovering stolen items), …
Some background details on XYO .token
- Token title: XYO network token
- Token symbol: XYO
- Blockchain: Ethereum
- Contract handle: 0x55296f69f40ea6d20e478533c15a6b08b654e758
- Total provide of tokens: 13.931.234.627 XYO
- Circulating provide: twelve.844.821.266 XYO
Distribution of the token sale
XYO tokens are allotted as follows:
- Reserve Fund: 39.three%
- Public sale: 39.three%
- Team: six.six%
- Findable XY corporations: three.five%
- Consultants: three.three%
- Collaboration: three.three%
- Promotion: three.one%
- Presale: one.six%
Sale of tokens
Below is details on the project’s token sale beginning in 2018.
| Round | Tokens | Date | Hard plug $ |
| Presale | one,600,000,000 VND | one February – six March 2018 | 768,000 won |
| Public sale | 39,300,000,000 VND | March twenty – May twenty, 2018 | 18,864,000 won |
Partner
With a extremely varied use situation, the XYO network has turn out to be a spouse of quite a few major manufacturers in all fields.
Supporter
At the minute there is not a great deal details on the workforce of supporters of the task. However, in accordance to my analysis, XYO Network was developed by XY Persistent Company, which was founded in 2012 as one particular of the top corporations in supplying positioning technologies for drones, self-driving automobiles with artificial intelligence or Bluetooth and GPS gadgets, and so on.
How to earn and personal XYO tokens
You can at present only purchase XYO on exchanges that have this token listed.
XYO Token Exchange
Until now, XYO has been trading USDT, BTC and ETH pairs on exchanges this kind of as Coinbase, KuCoin, Gate.io, Uniswap, SushiSwap, 1inch Exchange, ..
Token storage wallet XYO
XYO is an ERC-twenty token so you can retail outlet it on wallets that help this typical like:
- metamasks
- Myetherwallet
- Trusted portfolio
- Coin wallet98
Or you can maintain the tokens on the listed exchanges wallets.
The potential of the XYO Network task, must it invest in XYO tokens?
Overall evaluation soon after analysis, I located XYO network it is a completely possible task when in the context exactly where the verification of identity by the place of the events turns into seriously required towards hackers and anonymous details. Currently, the task is expanding the network by constructing the XYO Geominer local community, reaching far more corporations and firms, and discovering new means to modify the “location + blockchain” business. The birth of XYO Network will carry fantastic that means to genuine existence.