XY Oracle Network (XYO) First Proof Of Location Blockchain Network
Introduce
The XYO Network is blockchain’s first decentralized, trustless and secure Proof of Location organize. Because of its two one of a kind center ideas, Proof of Origin and Bound Witnesses, the XYO Network allows developers and smart contract creators to interact with the real world as if through an API.
The XYO Network has four essential parts, Sentinels, Bridges, Archivists, and Diviners. These four segments empower geo-centered, accord building and trustless confirmation of area information.This implies when you write a smart contract that indicates for a question show up at a particular XY arrange, in the event that it shows up there, you will realize that it was at that area with absolute certainty . This is altogether managed without danger of caricaturing the area flagging device(s) checked by a large number of Sentinels in the XY Oracle Network with the longest Proof of Origin chain
The XYO Network makes trustless location data possible through anecosystem of crypto-location technologies and protocols necessary for bridging the gap from the world of today, to the world of tomorrow
XYO Network
The prompt advancement with Ethereum has made the blockchain enabled Websites and smart contracts become prevalent. As a matter of fact, the smart contracts that are based on Ethereum offer the capability to use the crypto economic and blockchain ideologies across numerous businesses and operations. Despite that, there’s no available decentralized and imposing vision to regulate and authenticate location. But this problem will be solved by the XYO Network. To know more about this superb platform read some information below.
XYO Network Background
For some reference, XYO Network is the first-ever decentralized blockchain platform that is really trustworthy and protected together with the location proof network. The full acknowledgment goes to the two of the most core concept: the Bound Witness and the Proof of Origin. With the aid of the API, this platform permits all of the smart contract and of course the developers to have a deal directly.
Moreover, the major objective of this XYO Network is to repel any sort of attacks. Meanwhile, this also leads to the utmost certainty conceivable for all kinds of existing data. This accomplishment is completed through a set of an idea which really lessens the possibility of location tracking.
What is XYO?
XYO is blockchain based trustless, zero-knowledge proof, cryptographic location network that eliminates the need for centralized location data gathering. XYO Network will enable locating any object or individual through many device classes and protocols. To make this possible XYO team is using "Proof of Origin" and "Bound Witness" to merge decentralized blockchain world with our real-world data into one new game-changing network.
The XYO Network will be the definitive location oracle because of two core concepts it introduced: Proof of Origin and Bound Witnesses. The concept of Bound Witnesses guarantees that two different components of the XYO Network were in the same location at the same time. Proof of Origin ensures that the information a component provides is valid and resistant to falsification. Detailed information on both of these concepts is available in the XYO Network white paper.
Providing authoritative proof of location has the potential to change the world. Here are just a few ways the XYO Network will disrupt existing industries.
The XYO Network incentivizes the reporting of locations and archiving of ledgers by awarding XYO Tokens to nodes within the web. For example, when a last-mile courier like a UPS driver encounters an XYO Network node on their route, the node will record their XYO Network ledger to be archived. Leveraging cryptoeconomics in this way takes advantage of a key feature of blockchain technology — it’s a trustless, decentralized system. This means it can offer third-party verification and a degree of reliability that current tracking systems simply can’t provide.
- Problem
According to a recent study released by Comcast, more than 30% of Americans have had a package stolen from their porch or doorstep [1]. As the market share of eCommerce continues to grow, this problem will only become more prevalent. Megasites like Amazon are experimenting with different solutions to offer confirmed secure delivery as a premium service to their customers.
- Solution
By utilizing the XYO Network and XYO Tokens, companies can offer an independently confirmed ledger to track every step of a shipment’s progress, starting at the fulfillment center and ending with the package’s secure delivery within the customer’s home. As a trustless and decentralized system, the XYO Network provides independent confirmation not only of a package’s delivery, but of its entire shipping history. This also allows a retailer or eCommerce site to offer payment upon delivery, utilizing an Ethereum smart contract to protect the merchant from fraud or loss.
How it Works?
When a customer finalizes an order, an Ethereum 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 devices on the XYO Network on its blockchain ledger. Other XYO Network devices will likewise record their interactions with 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 fulfilled, and payment will be released. Should there be a dispute, the ledger will provide a history that can confirm the delivery of the shipment or show where it went off track.
The terminal point of the transaction — the point where the package is delivered and payment is released — will be determined at the time the order is placed. Amazon has experimented with multiple secure delivery systems, including lockers in public places like convenience stores and even electronic locks that give their delivery team access to customers’ homes. XYO Network devices within these secure locations will confirm delivery. In an Amazon locker, the shipped package will interact not just with its locker, but with XYO Network devices in other lockers and the customers that use them. In the customer’s home, the XYO Network nodes could include the customer’s phone, IoT devices, and even the Amazon Echo that was used to place the order.
I must say that I am impressed with everything about XYO project, from their website, promotion video, idea, already established business, a ton of documents and papers with use cases and business plans for the future and of course people behind this project. This is how you prepare a project for ICO and present it to the public and potential investors, and all future ICOs could learn from XYO. Big respect from me and you got me on board as an investor, that is for sure. For everyone else planning to participate in this ICO, I encourage you to join the WHITELIST FOR TOKEN SALE and do your due diligence on XYO before it starts. I will write more about this project in the future so stay tuned for details about team, tokenomics, roadmap, business plan and more.
XYO Token
Public token sales have a tiered pricing structure that starts at 1 ETH: 100,000 XYO and maxes out at 1 ETH: 33,333 XYO. Details about volume and price based on our time structure will be announced soon.
- Smart contract platform: Ethereal
- Contract Type: ERC20
- Token: XYO
- Token Name: XYO Network Utility Token
- Token Address: 0x55296f69f40ea6d20e478533c15a6b08b654e758
- Total issuance: Finite and capped at the amount achieved after the Token Main Sale
ROADMAP
2017
XY Releasing Ground Tracking Device Tracking: The "XYGPS"
XY launched the world's first GPS hybrid and Bluetooth enabled device. XYGPS can report its location anywhere in the world where Cellular data and GPS are available.
XY Releases XY4 + Device
XY released an XY4 + device that makes it capable of operating as an XYO Network node through firmware updates.
XY Crossing the 1,000,000 Beacon Marks
XY device one million born.
Blockchain-Based Oracle Network XY Born
The development of moving the network platform of the internal XY location to the open block implementation started: The Oracle XY network was born.
2018
Q1 & Q2
XY Mints The first "XYO Token" Used for Intelligent Contracts to Access the XYO Network
The first XYO Token is created and represents the official currency to be used throughout the XYO Network.
XY to Complete XYO in Test Network ("XY TestNet"
XY will complete the development of Oracle Testnet XY and begin launching location-focused blockchain protocols to its Sentinel device.
2018
Q3 & Q4
XY will launch XY Oracle Main Network ("XY MainNet"
XY will launch the full launch of the Oracle XY Network to XY the Sentinel beacon and start tests with new Sentinel partners (especially IoT companies and mobile app developers).
XY to Complete API for Intelligent Contract Developer to Interact with Oracle XY Network
The release of the XYO Network API that allows smart contract developers to write contracts to interact with XY networks. Library to be developed: Ethical Solidarity Library, Viper Ethereum Library and JavaScript library for websites interact with XYO Network (similar to Web3.js integration with MetaMask).
XY to Release XY Sticker-Based Tracker, Which Can Be Added to the eCommerce Package
Launch the "XY-Stick" product that allows eCommerce retailers to track each of their products in realtime.
2019
XY to Grow Global Network Sentinel Multiple Location Equipment
Grow XY Sentinel coverage (location data provider and verifier) as well as other components of the Oracle XY Network (Bridge, Archiver, Burial).
XY to Launch SatoshiXY and VitalikXY LEO Satellite Sentinels
Shares will be sold on XYO's Low Earth Orbit satellite; The bet represents ownership in the XYO Token award section.
XY to Businesses, Organizations and Retail Companies that Have Greater-Use Cases for Location Verification
Formalize business partnerships with larger companies and entities that can take advantage of decentralized and unreliable location instincts (eg logistics systems, supply chain companies, auditoras hours, eCommerce businesses and countless other niches).
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ETH Address : 0x14DC29488c379Fa0f1f0D9E4B581025797F02c04
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