With the advent of various technologies and the internet, there has been a new wave of digitalization throughout all industries in the world. Every product and service you need is brought to you at your location. With more and more uses of location data sharing there have been several networks that cater to this service but most of them are centralized. This is where XY Oracle Network comes in, with cryptographic location network XYO enables layered, location verification which can be accessed from anywhere and from any device at any given time. Backed by the advanced blockchain technology this one makes sure you sensitive data is never abused. With more and more industries using the location networks it has become of utmost importance that we protect and secure the data from frauds and cyber-attacks.
Why XY Oracle Network: With the use of blockchain the need for difficult-to-disrupt system is made possible as these systems are decentralised and based on peer-to-peer mechanism. GPS is exceptionally reliable and accurate but doesn’t protect the user against several threats such as cyber-attacks, spoofing, and interference from the third party. These things have a devastating effect on a laymans life as the information of location can be misused. XYO on the other hand saves you against all of this by creating a trustless, decentralized location network ecosystem which is resistant to such attacks, and reducing location spoofing. The XYO platform is beneficial to four of its component viz, the sentinels, which are the data gatherers, the bridges which are the data relayers, the archivists which are the data storers and finally the diviners who answer the aggregators. With these elements on platform it helps to have a seamless end-to-end functionality for everyone.
The XYO token economy: To make the platform completely decentralised and seamless, XY Oracle uses the XYO tokens on platform for every kind of transaction for the service. Through this token system XYO network aims to reward the independence of the platform users, and other such participation. There will be incentivizing for usage of tokens which is cost effective and helps in building a self-sustained platform. Every component on the XYO platform right from Sentinels to diviners can make use of this tokens for every activity on the platform. The user on the platform will be rewarded with the token for any transactions he does on the platform; be it for analysing or sharing the location data. The tokens will be sold in a public sale and no further tokens will be made after the sale.
Who can use the XYO network: The XYO being a decentralised platform which is blockchain based, this can be used by anyone from any device. There are many industries which need are in dire need of secure and swift location data network for e.g. the ecommerce websites and portals who need to serve their customers for shipping courier etc. The hotel owners who want to improve their reviews or have difficulty in serving to their customers accurately who might miss the location. The XYO network helps the merchants in getting into fraud and the customers too get the right proof of delivery without any hassles.
To know more visit:
Website : https://xyo.network/
Whitepaper : https://docs.xyo.network/XYO-White-Paper.pdf
ANN : https://bitcointalk.org/index.php?topic=3040825.0
Telegram : https://t.me/xyonetwork
Published By: karanj
Btalk Profile: https://bitcointalk.org/index.php?action=profile;u=1030341