XYO Network

What is XYO Network?

The XYO protocol comprises a collection of blockchain standards and defined rules governing the XYO ecosystem and its structured data. This protocol seamlessly combines elements of sovereignty, permanence, and provenance, establishing a unified foundation for all technologies operating on the XYO Platform. This results in a cohesive and interoperable data transfer within the XYO Ecosystem.

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Recent Video Interview

Main points of the interview:

• XYO's focus on validating and building trust in location data.
• XYO aims to create a system where data's accuracy and origin can be independently verified.
• Explore practical applications like verifying store product placements and ensuring unique data in treasure hunts.
• The importance of trust and openness for the future of the metaverse.

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How Does XYO Network Work?

The XYO Network introduces users to a protocol of interconnected devices, facilitating the acquisition of highly reliable location data through a sequence of cryptographic proofs. Users can issue transactions, termed "queries," seeking location data on blockchain platforms featuring smart contract functionality. Aggregators within the XYO Network listen to these queries, fetching responses with the highest accuracy from a decentralized array of devices. These devices relay cryptographic proofs back to the aggregators, which then reach a consensus on the most reliable answer before feeding it back into the smart contract. This process empowers the determination of an object's presence at a specific XY-coordinate at a given time, offering unparalleled trustless certainty.

The XYO Network comprises four key components:

• Sentinels (The Data Gatherers): employ sensors, radios, and various means to collect location information.
• Bridges (The Data Relayers): relay data from Sentinels to Archivists, forming a crucial link in the data transmission chain.
• Archivists (The Data Storers): store information gathered by Sentinels, providing a repository for Diviners to analyze.
• Diviners (The Answer Aggregators): analyze location heuristics from Archivists, generating answers to queries with associated accuracy scores. Diviners serve as oracles, relaying answers back into smart contracts.

The XYO Token

The XYO Token, functioning as an ERC-20 Utility Token, serves as a means of payment for services on the XYO Platform and as a reward for users contributing data or services. It is available for purchase on various major cryptocurrency exchanges, compatible with a range of crypto wallets and blockchains.

1. Fully Sovereign & Not Upgradable: The XYO Token maintains full sovereignty and is designed to be non-upgradable, ensuring stability and security.
2. Transparent Token Code & Open-Source Tech: XYO's token code is transparent, and its technology is open-source, promoting transparency and community involvement.
3. Available on Multiple Chains and Exchanges: The XYO Token is accessible on multiple blockchain networks and is traded on various cryptocurrency exchanges, enhancing its availability and liquidity.

XYO Network Team Background and Partners

Arie, Co-Founder of XYO Network and CEO of XY Labs, is an experienced entrepreneur with a track record of successful tech ventures. He advocates for decentralization and oversees the development of the XYO Network and its token.

Markus, also a Co-Founder of XYO, leads operations at XY Labs, focusing on the world's first blockchain geospatial oracle network. He contributes to products like the COIN App, rewarding over 3 million users for validating geospatial data.

John, Head of Innovation at XY since 2018, brings a strong tech background, having served as CTO and CPO for various companies. He's adept at running R&D departments, creating products for a global user base.

The biggest partnerships that the network has secured are Outliers Fund, Chainlink, and HERE.

XYO Network Project Development

PermaShare, an XYO Tool, is planned to be launched at the end of 2023. It enables users to share a permanent hash containing data for a webpage or other content. Typically, this data is an XYO Payload in JSON format. For instance, when sharing a webpage, PermaShare generates a PDF or image of the site, obtains the hash of the new asset, and creates a PermaShare payload referencing that hash or potentially multiple hashes. This PermaShare XYO payload has its unique hash for its JSON. To access the original data, a new user utilizes PermaShare's unique hash to retrieve the payload containing the asset generated during the initial process.

Live Sharing introduces two functionalities: sharing and embedding mutable data. It allows users to share data that changes with each share or embed a dynamic data viewing location. Examples include embedding a live NBA Finals scoreboard or sharing a link to the most recent NBA Finals winner, which changes annually.