Introduction
Let's go to continue this blog with other project. First of all, for who missed previous entry, what's a cryptomoney? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.
Today there are thousands of coins on the market, already in operation, such as Bitcoin, Ethereum, Ripple, etc., but there are many thousands more that are about to leave. The former are called cryptocurrencies and can be purchased on many websites such as Coinbase, Localbitcoins, Kraken, etc. The others are the so-called ICO's (Initial Coin Offering), which can be obtained with significant discounts and price runs through small contracts and transfers through Ethereum. But the best are those that have just been born, which are not even in the ICO phase, which launch campaigns to attract the public attention, these are the Airdrops. With this, we can get thousands of coins for free. I emphasize these because it's a way to win cryptocoins even if the market is as it is. Thorugh this way you never lose money.
However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As we all know, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account. For this reason, that is why I choose the best of them through an exhaustive study of the main characteristics.
Today, the project I am going to present you is the XYO Network, blockchain's first crypto-location oracle network.
Today, the project I am going to present you is the XYO Network, blockchain's first crypto-location oracle network.
Presentation
Definition
As I said before, XYO network (https://xyo.network/index.html) is the first oracle protocol in the world that allows two entities to perform transactions in the real world without a centralized third party. Specifically, is the blockchain's first crypto-location oracle network that allows developers and smart contract creators to interact with the real world as if it were an API. Their abstractions allow us to make verification of location reliable for developers, creating a protocol with new use cases that have not been possible until today.
The use of the XYO Network has vast applications that cover a multitude of industries. Taking e-commerce as example, the e-commerce company would take advantage of the XYO network using XYO tokens by writing an intelligent contract on the Ethereum platform. XYO Network could then track the location of the package that is being sent to the consumer throughout each compliance step. This could allow e-commerce retailers and websites to verify, reliably, that the package not only appeared at the customer's door, but also safely inside their home. The XYO Network's e-commerce integration thus allows the ability to protect the merchant from fraud and ensure that consumers only pay for the goods that arrive at their home.
Goals
The goal of XYO Network is to create a decentralized and untrusted and attacks' resistant system of location oracles capable to produces the greatest possible security when asked about the available data. They pretend to achieve this through a set of abstractions that greatly reduce the risk of location spoofing through a chain of zero knowledge tests throughout the system components.How it works
The XYO Netwrok has four primary components:
Use cases
The use of the XYO Network has vast applications that cover a multitude of industries. Taking e-commerce as example, the e-commerce company would take advantage of the XYO network using XYO tokens by writing an intelligent contract on the Ethereum platform. XYO Network could then track the location of the package that is being sent to the consumer throughout each compliance step. This could allow e-commerce retailers and websites to verify, reliably, that the package not only appeared at the customer's door, but also safely inside their home. The XYO Network's e-commerce integration thus allows the ability to protect the merchant from fraud and ensure that consumers only pay for the goods that arrive at their home.
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| Example of an XYO Network teamwork |
Airdrop
Going into a little more detail about the airdrop, the project gives the opportunity to earn XYO tokens by perform some social media tasks and doing simple steps from the bounty program explained in Bitcointalk.
Here (https://bitcointalk.org/index.php?topic=3053801.0) you can access to the link in order to see what are the conditions to become an early XYO Networks contributor and start acquiring tokens. When the ICO stage finishes you will be recompensated with your proportional earned tokens.
Here (https://bitcointalk.org/index.php?topic=3053801.0) you can access to the link in order to see what are the conditions to become an early XYO Networks contributor and start acquiring tokens. When the ICO stage finishes you will be recompensated with your proportional earned tokens.
Doesn't that sound interesting? If you are, here (https://docs.xyo.network/XYO-White-Paper.pdf) is the link to the whitepaper and you can stay tunned in their official telegram group (https://t.me/joinchat/GVfdkUtqtEQ5CC2xXYMqlQ). I hope you liked the post and soon I'll send you new ones.
Extra details
Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
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