XYO Network Review - Legit ICO or Scam?

XYO Network intention to deliver blockchain technology into the real world using a "proof of place" network. Figure out how it works today in our inspection.

What's XYO Network?

XYO Network, located on line at XYO.network, is blockchain's first "evidence of place" oracle network. The objective of XYO Network would be to decentralize location-reliant commerce markets.

The XYO Network site asserts that location-reliant commerce markets are a $11 trillion business -- 3 times bigger than the whole e-commerce market.

An ICO for XYO tokens is scheduled to occur from March 20 to May 20.

How Can XYO Network Proof Of Location Oracle Blockchain Work?

XYO Network intends to make the most of location-verifying beacons which are already set up globally. XYO Network would like to leverage this system to be able to decentralize location-reliant services.

To put it differently, you may sell location data on the internet to support several services which rely on location information.

The XYO Network site clarifies that there are already more than 1 million location-verifying beacons within their community today, with much more added into the XYO Network every day.

The world is growing increasingly more reliant on place information. Self-driving vehicles, package-delivering drones, and intelligent cities may continue to demand place information. There is a demand for a decentralized network able of taking place data from a range of distinct location-tracking devices.

XYO Network sees itself as the answer to this issue. It eases trustless location data utilizing a ecosystem of crypto-location protocols and technologies.

Everything on the planet is defined with their own XYZT coordinates. Physical objects can't leave that distance. Everything from jewellery to cars to individuals could be monitored utilizing XYZT coordinates.

The "T" coordinate describes time. As people travel together their T match, they interact with one another to make what is called "metadata". Two individuals might hold a dialogue, for instance. The dialogue functions as a listing of the interaction. Here is how XYO Network describes what happens following:

"The dialogue is a listing of their interaction. In the instance of this XYO Network, we're carrying this interaction because the time signature between both of these parties -- two individuals taking a selfie, which makes two copies of their selfie, signing them both, and each taking one. This metadata that was generated is currently also a permanent link between the two entities; this really is a heart protocol which underlies the XYO Network's system and can be covered in detail afterwards."

The final result is a decentralized, cryptographic place community built for the function of tomorrow.

Use Cases For XYO Network

Users may interact with XYO Network in many of different ways -- such as via the use of intelligent contracts. Users may use wise contracts to decide whether an item is in a particular XY-coordinate. In case it is at the organize, then the wise contract may perform specific functions according to this info.

One proposed use situation is the e-commerce company that delivers payment on delivery to specific premium customers. To be able to offer you this support, the e-commerce company should utilize the XYO Network to compose a wise contract. The system will monitor the location of this bundle throughout the distribution chain -- in the warehouse shelf to the delivery courier, carrying it all of the way to the customer's home and each place between. This may let e-commerce retailers and sites to confirm, at a trustless manner, the bundle not just appeared on the client's doorstep, but can also be securely within the customer's house.

When the package is securely within the customer's house, the payment is discharged. By means of this system, clients can simply pay for products as soon as they obtained those products. And, e-commerce services may offer this support without compromising safety.

XYO Network Characteristics

XYO Network highlights All these attributes:

Decentralized:

Verification doesn't involve any big, fee-based businesses or associations. The system runs on an entirely transparent and autonomous method. The machine is totally free to use (open source) and does not have any entry barriers (for honest competition).

Trustless:

Electricity and hope is shared between XYO Network participants. It is not concentrated in certain centralized entity.

Identityless:

Location information is shared anonymously to safeguard the privacy and security of participants around the community.

Proof Of Origin:

Evidence of source is the real key to confirming that ledgers flowing in the XYO Network are legitimate. It depends on the notion of a Bound Witness (which we will discuss next). Additionally, it utilizes "Transient Key Chaining" to be able to allow it to be impossible to falsify the string of source to get information. All oracles are confirmed with an "Origin Chain Score".

Bound Witness:

Bound Witness enables Origin Chains to be constructed to be used in discovering evidence of source when keeping up a trustless, zero knowledge proof system. The system helps to ensure that nodes were in proximity to one another, confirming the node supplied precise location information.

Multiple Writers:

XYO Network may have several participants, such as Sentinels (place witnesses who detect information and vouch for information precision), Diviners (people who respond to a given query by embracing historical data saved by archivists), Archivists (people that shop location data from Bridges at a decentralized type to make data accessible to Diviners), and Bridges (location info transcribers that relay heuristic ledgers from Sentinels into Archivists). Each one these participants could be contemplated XYO Miners.

XYO Tokens:

XYO tokens are utilized to incentivize desired behaviour on the community. They are sometimes considered as the "gasoline" required to interface with the real world so as to validate the XY coordinates of a particular object.

The XYO Network XYO ICO Details

The XYO Network ICO to get XYO tokens is happening from March 20 to May 20, 2018.

The tokens have been sold at a speed of 1 ETH = 200,000 XYO throughout the pre-ICO, increasing into 1 ETH = 100,000 XYO throughout the key token sale.

Any tokens unsold following the ICO is going to be ruined.

Who is Behind XYO Network?

XYO Network has been developed by a company named XY. That company has allegedly been growing the technology behind the stage for many years.

XY has built among the biggest networks of Bluetooth and GPS beacons on the planet. They have released GPS monitoring technologies such as the XYGPS, the world's first hybrid GPS and Bluetooth device capable of reporting its own place in anywhere in the world where mobile and GPS information is available. They have also introduced the XY4+ apparatus.

XY is located in San Diego, California. The company was established by Arie Trouw. Other important members of this group comprise Scott Scheper and Markus Levin, who joined the company since co-founders.

XYO Network Review - Conclusion

XYO Network intends to launch its principal community in 2018. The market for XYO tokens is expected to finish on May 20. XYO Network has an present network of location-tracking apparatus, such as hybrid Bluetooth and GPS devices capable of monitoring place anywhere on the planet.