XYO Network XYO

$0.0046
Market Cap $ 25.304 MM (#108)
24h Volume $ 63.145 K
Chg. 24h: -4.30%
Algo. score 3.6/5  (#150)
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XYO Network project purpose and description

XYO Network clarity of purpose

XYO Network purpose and aspects

Live track items using the XYO technology embedded with other tech tools such as Bluetooth and more.

XYO Network categories

Supply chain

Short description

With over 1 million location-verifying beacons already in the world, XYO is blockchain's first crypto-location oracle network. The XY Oracle Network ("XYO Network") allows developers and smart contract creators to interact with the real world as if it were an API.

Abstract

With the growing presence of connected, location-reliant technologies, our privacy and safety rely heavily on the accuracy and validity of location information. Various attempts have been made to eliminate the need for centralized entities controlling the flow of location data, but every attempt has relied on the integrity of the devices collecting this data in the physical world. We propose a trustless, cryptographic location network using a novel formulation reliant on a chain of zero-knowledge proofs to establish a high degree of data certainty on location information. The XYO Network (XY Oracle Network) is an abstraction that enables layered, location verification across many device classes and protocols. At its core sits a set of novel cryptographic mechanisms known as Proof of Origin & Bound Witness that tie together the power of blockchain technology and real world data collection into a system with direct applications today.

Link to Roadmap: https://xyo.network/roadmap/
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