xy oracle 9
XY Oracle Price XYO Price index, Live chart & USD Market cap OKX United States
In a nutshell, the XYO Network is a trustless cryptographic location network that enables layered location verification across many devices and protocols. XYO, or the XY Oracle, is a network focused on combining geospatial location tracking and blockchain data. This is done through signals that devices connected to the XYO network give off. For example, if two XYO users with smartphones connected to the network pass by each other, the XY Oracle records that data and stores it on a ledger. Nodes record these interactions, which users can then encrypt and bridge to whatever other network they might wish to use the data for. Sentinels create bound witnesses, while bridges collect and upload them to the XYO Network.
- This is done through signals that devices connected to the XYO network give off.
- This decentralized approach eliminates the need for centralization and empowers the network with enhanced transparency and autonomy.
- For example, if two XYO users with smartphones connected to the network pass by each other, the XY Oracle records that data and stores it on a ledger.
- It is a decentralized network consisting of smartphones, computers, smart-home appliances, and others.
- They contain location information received from Bridges and index the ledgers to facilitate easy retrieval.
Dive deeper into XY Oracle
Accurate location data can provide powerful evidence for claim verification, streamlining the process and reducing fraudulent claims. In the car rental industry, XYO can help in tracking vehicles, reducing the risks of theft and unauthorized use. It can also enable secure car-sharing services by verifying the location of rented vehicles. The XYO Network can be utilized to track and verify the location of goods in the supply chain process.
The XYO Network aims to transform the way apps, humans, and hardware devices use location data. The Proof of Origin Chain, a blockchain-like structure that provides an immutable record of their activities and establishes a verifiable history of their data. By utilizing Diviners, the XYO network aims to establish trust and transparency in location-based data applications. Bridges serve as connectors between Sentinels and other components of the XYO Network. They facilitate the transmission of location data from Sentinels to Archivists.
- More than that, through our crypto exchange platform, you can buy XYO with regular payment methods, benefiting from immediate executions and the ultimate transaction security.
- In order to create new blocks, the XYO Network utilizes the proof-of-work system, and active users are rewarded with XYO tokens.
- At its core, the network focuses on gathering accurate and reliable location data, encompassing latitude, longitude, elevation, weather, temperature, and more.
How Does XYO Work?
The XYO Network operates on a native cryptocurrency called “XYO Token.” Users can earn the XYO cryptocurrency by contributing to the creation of verified heuristic ledgers. These tokens serve as the currency for querying the network and are awarded to those who facilitate the generation of answers. Proof of Origin is a cryptographic mechanism used by the xy oracle XYO Network to verify the authenticity and origin of data. It ensures that the data collected by the network is trustworthy and comes from reliable sources. PoO establishes a chain of custody for data by cryptographically linking it to a specific device or source, providing verifiability and accountability. At its core, the network focuses on gathering accurate and reliable location data, encompassing latitude, longitude, elevation, weather, temperature, and more.
Market
Location-based marketing campaigns can be executed more effectively, providing personalized, relevant advertising to potential customers. It is like a person standing guard, constantly observing data in the physical world and recording it on a secure ledger. These sentinels can collect various types of information such as location, temperature, elevation, and more.
For example, XYO tokens are required to pay for services on the XYO Platform. The XYO coin is also used to reward contributions of users who provide data or services. The XYO Network cryptocurrency is traded on major cryptocurrency exchanges and is compatible with different crypto wallets and blockchains. Miners who produce bound witness data are rewarded with XYO tokens, which can be traded on Ethereum-based cryptocurrency exchange platforms. XYO mining can be facilitated through various devices, such as the XYO Network App, SentinelX, and BridgeX. For those looking for an easy entry into XYO mining, the COIN app is a free and accessible option.
With XYO tokens, individuals and businesses gain access to various possibilities. Developers can leverage XYO Tokens to build geodapps (geo-based decentralized applications) that integrate with the XYO Network. Alternatively, individuals can participate in electronic exchanges to sell or trade XYO tokens. Sentinels, bridges, archivists, and diviners on the XY protocol earn rewards with XYO tokens for their participation. Sentinels and bridges receive tokens when their information is utilized to answer queries.
These bound witnesses are stored by archivists, and a diviner can search for specific data within the network. A party interested in data collection can use a diviner to search the archivists and pay XYO tokens to retrieve the data. Diviners are also called the answer aggregators because they serve as location witnesses that provide accurate and trustworthy data. A Diviner gathers and validates geospatial data, such as GPS coordinates, which are then utilized within the XYO network ecosystem. See how the value of the XYO Network coin has changed over the recent 24 hours. Access the current market cap (market capitalization) and trading volume of the XYO digital asset.
It is a decentralized network consisting of smartphones, computers, smart-home appliances, and others. These devices use a cryptographic protocol to observe and store data from the physical world. XYO is an ERC-20 (Ethereum Blockchain) utility token that comes with several useful functionalities within the XYO ecosystem.
XYO facilitates and incentivizes the aggregation, validation, and use of decentralized data. Data use is incentivized by providing immutable, tamper-resistant, blockchain data for a wide variety of possible uses, including AI modeling, metaverse applications, and data analytics. XYO is a decentralized ecosystem focused on data sovereignty and incentivizing data collection and validation.