The use of location data is necessary from social and economic fields such as self-driving vehicles, smart cities, and many others. These sectors rely highly on trustless location data. However, the existing location technologies do not offer enough security and certainty properties for the users. Considering this problem, XYO network is developed to control the power of blockchain technology to unravel the short-coming of the current location technologies. The XYO networks allow users to perform trustless transactions within a crypto ecosystem.
Components of XYO Network
There are four key components of the network. The first one is Sentinel. It is a kind of empirical witness. This component generates momentary ledgers. The ledger functions to determine the accurateness and certainty of the observed vouch and heuristics. Diviners can be certain with the ledgers that the component produces. The second main component of the network is the bridge. It is the transcriber of the heuristics. It transmits the ledger directly from Sentinels to Diviners. Using the Bridge, a Diviner can be sure that any alteration is unlikely. Just like Sentinels, Bridges also add an extra Proof and Origin.
The third major component is the Archivist. Its role is to store all data (heuristics) securely in a decentralized form. The component keeps the historical ledgers forever. It means that when there is a loss of data, the data still can be accessed but with reduced accurateness. The component also works by indexing stored ledgers. It allows users to access the string of ledger data whenever it is necessary. Archivists get paid by retrieving data not by storing the data. The last core component of XYO network is the Diviners. After the Archivists store the ledgers, the diviners analyze the historical data based on their accuracy and validity. That is how the network works.
XYO was founded by Arie Trouw. Probably not everyone knows that Arie has developed his first software since he was 10. Since then, he has been working on many projects involving technological breakthroughs. He also builds a successful business from the projects. He has countless experiences in becoming CEO of many prosperous startups. In developing the XYO network, he works with the co-founder, another young multitalented engineer, Scott Scheper. His position in XYO is the head of marketing. His interests are digital advertising and technology startups. The other co-founder is Markus Levin. He has become a blockchain enthusiast after mining his first Bitcoin in 2013. He also has more than 10 years of experience in working in respective technology companies.
ICO Token Sale
XYO token sale is live right now! It actually has started since 20 March 2018. Bonus schemes are applied to this sale with the certain pricing structure. Only with 1 ETH, you can buy 99,949.24 XYO tokens. ETH is the only cryptocurrency that is accepted to pay for the token. If you want to participate in the sale, you have to pass KYC requirement. This procedure is necessary to keep the process safe and secure.
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