ABOUT THE XYO NETWORK
WELCOME TO THE FUTURE
"XYO Is The Newest Breakthrough in Blockchain Technology And Could Be Bigger Than Bitcoin and Ethereum Combined"
Often new technologies arrive that change the way we live. When Thomas Edison invented the light bulb in the late 19th century, he illuminated the world. And we have not lived since.
This new breakthrough is set to be larger than the combined back. This will change the lives of millions of people in every place of the world and untapped markets, each higher than $ 11 trillion annually.
The XYO Network makes it possible for smart contracts to access the real world by using the XYO Network's ecosystem of devices to determine if an object is at a specific XY-coordinate. If it is, one can set up applications which execute transactions in the smart contract.
This has opened up a new world of possibilities. The applications of such a technology are infinite.
Take for example an eCommerce Company. With the XYO Network, they could now offer their premium customers payment-upon-delivery services. To be able to offer this service, the eCommerce company would leverage the XYO Network (which uses XYO Tokens) to write a smart contract.
The XYO Network could then track the location of the package being sent to the consumer along every single step of fulfillment; from the warehouse shelf to the shipping courier, all the way into the consumer's house and every location in between. This could enable eCommerce retailers and websites to verify, in a trustless way, that the package not only appeared on the customer's doorstep, but also safely inside their home.
Once the package has arrived in the customer's home (defined and verified by a specific XY-Coordinate), the shipment is considered complete and the payment to the vendor gets released. The eCommerce integration of the XYO Network enables the ability to protect the merchant from fraud and ensure consumers only pay for goods that arrive in their home.
This means e-commerce stores like Amazon.com can use the XYO Network to allow customers to only pay for a product when it arrives at their home.
How "XYO" It Work
The XYO Network is made up of four primary components:
-Sentinels, which gather data about their location, environment, and other nearby XYO Network devices and store this information on an onboard digital ledger,
-Bridges, which relay information from Sentinels to the public blockchain, where it is stored in perpetuity,
-Archivists, which store and index the information transmitted via Bridges,
-Diviners, which access the information in order to verify location or answer queries.
-Sentinels, which gather data about their location, environment, and other nearby XYO Network devices and store this information on an onboard digital ledger,
-Bridges, which relay information from Sentinels to the public blockchain, where it is stored in perpetuity,
-Archivists, which store and index the information transmitted via Bridges,
-Diviners, which access the information in order to verify location or answer queries.
Together, the interaction history between Sentinels and Bridges creates an unalterable Proof of Origin Chain which is stored and indexed via Archivists. By examining individual Proof of Origin Chains and their Intersections with other Chains, Diviners can provide location verification and location history for a specific Sentinel or set of Sentinels.
Since interactions between Sentinels are recorded on each device’s individual Proof of Origin Chain, you can verify that the interaction occurred by comparing the Chains at the point of Interaction. This creates the concept of Bound Witnesses, allowing us to establish trust and certainty despite the decentralized nature of the XYO Network.
Since interactions between Sentinels are recorded on each device’s individual Proof of Origin Chain, you can verify that the interaction occurred by comparing the Chains at the point of Interaction. This creates the concept of Bound Witnesses, allowing us to establish trust and certainty despite the decentralized nature of the XYO Network.
When a user submits a query to the XYO Network — for example, if they want to know if an e-commerce order was delivered to the customer — there exists the potential for inaccurate or conflicting responses. Diviners examine all available information and determine the best possible answer based on the timeliness and trustworthiness of the information provided. Specific details on how this Best Answer is determined are available in the XYO Network white paper.
XYO Tokens
All components of the XYO Network are incentivized through the awarding of Ethereum-based ERC20 XYO Tokens. When a user submits a query through the XYO Network, they spend XYO Tokens based on the request’s priority and complexity. These tokens are awarded to the Diviner which provides the Best Answer, the Archivists which stored the information used to generate this answer, and the Bridges and Sentinels which provided this data. In this way, XYO Network are components are rewarded for their participation in the Network and incentivized to provide reliable and useful data.
XYO tokens will be distributed through a Token Sale starting on March 20, 2018. We’ll be releasing more details here on Medium and on our website xyo.network
XYO tokens will be distributed through a Token Sale starting on March 20, 2018. We’ll be releasing more details here on Medium and on our website xyo.network
FOR MORE INFORMATION ABOUT THE PLATFORM VISIT THE SITE BELOW :
Website : https://www.xyo.network/
Website : https://www.xyo.network/
Whitepaper : https://www.xyo.network/white-paper18971455
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