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Xy Oracle

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Scott has worked on many exciting ventures with exceptionally talented people, including the Co-founder of Uber. Scott’s first “ethereum guides boss” was Arie Trouw, who hired Scott in 2009 during an economic recession, when very few companies were hiring, and even fewer were starting companies. What began as a Facebook app startup with four guys and a ping pong table, grew to over 200 employees and 9-figures in revenue in less than two years.

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  • Multicoin Wallets allow you to store a wide variety of assets in just one place.
  • With the advent of blockchain-based, trustless smart contracts, the need for oracle services that arbitrate the outcome of a contract grows proportionately.
  • To provide this feature, an e-commerce company should use the XYO network to write a smart contract.
  • While your dog wandering around the neighborhood, the sentinel on his collar communicates with other sentinels to track his location.
  • The true innovation at the core of the XYO Network centers around a location-based proof underlying the components of our system to create a secure, crypto-location protocol.
  • XY had already rolled out over a million location finding devices driven by GPS and cellular services, which it then interconnected through a series of smart contracts on the Ethereum network.

This is a fun and rewarding way to encourage users to interact with XY Sentinels and helps expand XYO’s number of edge nodes. It allows users to collect digital assets around the world in exchange for providing location-based data to the XYO Network. This is exactly what XYO Network aims to accomplish by using blockchain technology to transform how geospatial data is collected and validated. Basically, it collects this data from the real world and feeds it into a blockchain protocol.

Why Should I Buy XYO (XYO)?

These include entities such as Bluetooth trackers, GPS trackers, geo-location tracking built into IoT devices, satellite tracking technology, QR code scanners, RFID scanning and many others. XY Findables has pioneered and launched its consumer Bluetooth and GPS business, which has allowed it to test and process real-world location heuristics. All efforts in developing the XY Findables consumer business have served to help significantly in designing the XYO Network Blockchain Protocol.

Thanks to this system, customers can pay for goods only after they receive them. So, e-commerce services can provide such a feature without compromising security. Also, retailers and e-commerce websites can enable this technology to confidently verify that the package has not only appeared on the doorstep of the customer but is also safely located inside the customer’s home. In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction. Besides, our team is regularly adding new security features to avoid any possible chance of unauthorized access to your mobile XY Oracle wallet.

When Bridges are being active in the https://coinbreakingnews.info/, they are searching for bound witnesses to confirm the interaction by placing a signature on them. All collected data is safely stored on a public blockchain XYOMainChain. XYO consists of 4 major components that maintain the whole network. There is no recent price data for this coin, because we don’t see trading activity currently.

We can use the XYO Network to track and locate any objects around the world, including baggage tracking, equipment tracking, cargo inventory verification, package theft detection, car rental key tracking, and more. You ask the XYO Network, using a mobile phone, “Where is my dog right not? ” You pay a few XYO Tokens, and the XYO Network gives you the exact location of your dog at that time.

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Since the data is publicly accessible, there is no incentive to profit by accessing and selling information. This is made possible by virtue of the identityless nature of the data comprising the XYO Network. Since the advent of Ethereum, the cryptoassets community has experienced rapid-growth in the form of DApp development and protocol improvements. However, up until this point, every platform has focused almost entirely on digital channels , instead of real world channels .

Proof of Location

Smith understood the natural instinct of humans to operate with absolute rules, rather than rules of negotiation. He believes this is because holding the ideal-state of a system concurrently, in-memory, is too taxing to the brain. In other words, “hard-and-fast rules are easier to keep than rules that are slightly relaxed. The XYO Network will be built upon an existing infrastructure of 1,000,000 devices that have been distributed throughout the world via our consumer facing business, XY Findables. XY’s Bluetooth and GPS devices allow everyday consumers to place physical tracking beacons on the things they want to keep track of .

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The price strength at 65 hinted at the presence of more bulls than bears, which could push the price higher. With such price action, the XY Oracle price has formed a bullish flag pattern on the daily chart, as shown below. Technically, this formation is a highly bullish pattern that indicates the possible continuation of an uptrend. Since the year started, XYO price had increased 123%, a trend that had proven remarkably bullish, especially during the first week of 2023 when it reached the highest point since October last year. XY Oracle price made an explosive breakout beginning January 1, 2023, moving from $0.003 to the $0.01 range high on January 4, marking a 233% rise.

Similar to Bitcoin, and most blockchain technologies, the most compelling property of blockchain is the built-in accountability that is inherent of a fully-public ledger. This derives from the fact that each transaction is completely open and viewable. Bitcoin can be interpreted as a platform that is anonymous, but not private. The XYO Network shares these traditional blockchain properties; yet, since location data is sensitive in nature, additional thought in how privacy concerns are handled becomes a necessity. For this reason, the XYO Network is built with privacy at the forefront of how its platform runs.

Is XYO Network a good investment?

The COIN App is a gamified utility used for geomining XYO Tokens. Geomining is the act of excavating valuable digital items or assets from a real, physical space. COIN is one of the first apps that allows you to travel in the physical world, and collect digital assets that can be transferred, withdrawn, and stored in external wallets. Like a lot of popular mobile games, it’s location-based to encourage exploration, but COIN also serves a practical purpose. It allows users to interact with nearby XY Sentinels to collect XYO Tokens, which can be traded or used for XYO transactions.

We strive to help our readers gain valuable, trusted insights through in-depth analysis, high-quality and well-researched News stories and views from the digital currency community experts. Our young and dynamic team is comprised of well-known journalists as well as Cryptocurrency & Blockchain Experts. The XYO Network addresses these shortcomings and proposes solutions that recalibrates cryptoeconomic dynamics and revolutionizes blockchain cryptocurrency technology forever.

Back to the XYO Coin

Our open-ended architecture ensures that the XYO Network of today will support the blockchain platforms of tomorrow. The XYO Network supports all blockchain platforms that possess smart contract execution . Data tampering is tempting when a party is financially incentivized to do so, which is why cryptoeconomics are typically utilized to make such actions economically unviable. The above example does not rely on cryptoeconomics for certainty; rather, to protect against this vulnerability, a concept called consensus is deployed for oracles. This enhancement requires the smart contract to not only rely on one data source, but multiple sources of data, all of which must agree and achieve consensus on the winner in order for the contract to execute.

XYO Network along with XYO coin introduced an innovative way for decentralized collecting, validating, storage and use of geospatial data. Needless to say, that the project itself wants to eliminate the middle man from location data gathering while bringing decentralization and transparency to the businesses. XYO cryptocurrency is currently recognizable by its narrow community but once the world meets mass adoption such projects as XYO will be in demand. The XYO Network utilizes a cryptographic method called a zero-knowledge proof, which is perhaps one of the most powerful tools cryptographers have ever devised. Zero-knowledge proofs provide authentication without exchanging private data, which means private data cannot be exposed or stolen. This is a novel advancement because it provides an extra layer of security not only to information transmitted in real-time, but also data stored on the blockchain ledger for future use.

However, the bullish breakout was corrected after bears took over the XYO Oracle price for the next six days leading to January 11, losing most of the gains made during their session high. Multicoin Wallets allow you to store a wide variety of assets in just one place. Serving as oracles, Diviners use Proof-of-Work consensus algorithm to add answers fetched from Archivists to the blockchain. So how can I get my initial investment which I paid over three thousand dollars.

In December 2018, XYO Network completed the gamma stage of the token sale and launched their mainnet, claiming to have received proposals from 10 leading exchanges as of early that month. Transfer your newly purchased BTC or ETH from your wallet to one of the exchanges listed below. Is a move-to-earn project where users are rewarded handsomely for completing challenges within a unique fitness metaverse. Moreover, the moving average convergence divergence indicator was moving higher in the positive region away from the zero line, suggesting that more buyers than sellers populated the XYO market.

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