Introduction With the advent of blockchain-based smart contracts, the need for oracle services governing contract yields has grown significantly. Most smart contract implementations currently rely on one or more authoritative oracle sets to complete the outcome of the contract. In cases where both parties may approve the authority and impurity of a particular oracle, this is sufficient.
However, in many cases, neither the corresponding oracle exists or the oracle can not be considered authoritative due to the possibility of error or corruption. The oracle location falls into this category. Physical world item location forecasts depend on the reporting, relay, storage, and oracle processing components provided, all of which introduce errors and can be corrupted. Risks include data manipulation, data contamination, data loss, and collusion.
Thus the following problem occurs: location assurance and accuracy are negatively affected by the lack of an unreliable and decentralized oracle. Platforms such as Ethereum and EOS have been used extensively for their power to mediate online interactions safely using primary use cases involving escrow for escrow fund raising in the form of ICO. However, to date, every platform is entirely focused on the online world and not in the physical world because of the noise and corrupt data channel's data integrity. The XYO Network has worked towards the concept of allowing developers, such as who wrote smart contracts for the blockchain platform, to interact with the physical world as if it were an API. The XYO
Network is the first oracle protocol in the world that allows two entities to transact in the real world without a centralized third party. Our abstractions allow us to verify undeveloped locations for developers, creating protocols with new usage cases that have not been enabled to date. The XYO
The network will be built on the existing infrastructure of over 1,000,000 devices circulating in the world that are distributed through their consumer findable business. Bluetooth and XY GPS devices allow consumers every day to place physical tracking beacons on things they want to track (like keys, suitcases, bikes, and even pets). If they misplace or lose the item, they can see where exactly by looking at their location on the smartphone app. In just six years, the XYO Network has created one of the largest Bluetooth and GPS networks in the world.
What is XYO Network?
XYO is based on blocks without trust, zero evidence of knowledge, cryptographic location network that eliminates the need for centralized location data collection. The XYO network will enable the location of each individual object or through multiple classes and device protocols. To enable the XYO team to use "Proof of Origin" and "Bound Witness" to combine the world of decentralized blockchain with our real-world data into a newly changed game network.
This may sound like something of the future, but as I said at the opening of this article, we will live in the future, and the project is available XYO and ready for business. They have an existing infrastructure of 1 million operational tracking beacons that represent one of the largest Bluetooth networks and GPS from consumers in the world.
Smart Contracts Can Now Interact With The Real World Like If It's An API
Location data is used every day around the world. Society and economy are becoming increasingly dependent on the certainty and security of location heuristics. Self-driving vehicles, packet delivery drones, and smart cities will likely call for increased dependence on untrusted location data. The adoption of future technologies centers on their ability to trust the location heuristics they receive from outside sources of the chain.
"The need for a difficult-to-disrupt system to complement GPS has been known for years.Virtual GPS is very accurate and reliable, yet jamming, spoofing, cyber attacks and other forms of distraction appear to be growing in frequency and severity. the potential for devastating effects on our lives and economic activity. "
- President of the RNT Foundation, Dana Goward
We believe that current location technology lacks the certainty and security needed to move us into the future. We have developed protocol ecosystems and crypto-location components, which leverage the power of blockchain technology, and solve the deprivation of location technology today. Our project is called "XY Oracle Network" (XYO Network). The XYO network enables transactions without trust through the crypto-location component ecosystem that can bridge the gap of today's world, into the future world.
How does it work?
XYO Network Token Economics and Tokensale.
The XYO Network uses a token utility called the XYO token which will be the currency used in the XYO Network ecosystem. This is the ERC20 token backed by the Ethereum smart contract. This token will serve as a gas that will give life to the XYO Network. Any queries performed on the network will have a corresponding token price depending on how expensive the query is. After the execution of smart contracts and questions have been answered, tokens paid by customers will be shared equally among the four components to keep operations alive.
Token XYO has a total volume of 100 billion tokens. Tokensale which will start on March 20 and ends on May 20 this year, has a tiered pricing structure that will start on 1 ETH is 100 thousand tokens XYO and then maxes out on 1 ETH is 33 thousand tokens at the end of tokensale. All unsold tokens during tokens will be burned so future inflation and increased demand for future tokens will be supported.
XYO Network Components.
The XYO network has four main components, Sentinel, Bridge, Archivist, and Diviners. These four components enable the proving of focused, consensus, and unreliable location data. This means that when you write a smart contract that specifies an object to appear on certain XY coordinates, if it appears there, you'll know it's in that location with absolute certainty. This is all done without the risk of spoofing the location signing device (s) verified by thousands of Sentinels in the Oracle XY Network with the longest Origin proof chain (thus generating greater confidence in heuristics)
Proof of Origin.
Combined, XYO Network Components Creating First Blockchain, Less Identity, Location Protocols Not Believing.
In a system without trust, data may be lost, damaged, tampered with, or damaged. Traditional Evidence Origin in a trustless system depends on the private key to sign transactions or contracts in a system. This works very well assuming that the nodes on the network that signed the data in question are physically and almost safe. If the private key is compromised, then the ability to prove the origin falters. Evidence of Origin (Evidence of Origin) is key to verify that the ledger flowing into the XYO Network is valid. Unique IDs for data sources are not practical as they can be forged. the signing of private keys is impractical since most XYO Networks are difficult or impossible to physically secure, so the bad actor's ability to steal private keys is too viable. To solve this, XYO Network uses Transient Key Chaining. The benefit of this is that it is not possible to falsify the origin chain for the data.
Bound Witness.
XYO Network Utilizes Cryptoeconomic Incentives to Appreciate Desired Behavior and Destructive Network Attacks
In a system without trust, the witness's node can (through defects or corruption) generate false data. Invalid data can be detected and deleted only if it is outside the allowed range for the heuristics. Valid, but false data (eg fake data) is much more difficult to detect. Given that the untrusted data source used to complete the digital contract (oracle) is useless, we can substantially increase the certainty of the data provided by first establishing the existence of evidence of two-way location. The primary two-way heuristic location is proximity, since both parties can validate the event and the extent of the interaction by encoding the interaction. This allows for a zero-proof knowledge that the two nodes are in close proximity to each other. This new concept is called "Bound Witness," and the XYO Network introduces this possibility, for the first time, to the world. The implications will change many industries and the way we trade in the world.
Our conclusion.
Tracking the location of valuable objects and property is very important. That's why projects like XYO Network should be supported by people around the world as it aims to help and provide the services needed to everyone. XYO Network aims to create a safe and decentralized mandatory oracle system that is safe and resilient to attacks typically encountered by a centralized geolocation system. This is a project that will revolutionize the way we do location tracking and help people protect important properties by providing accurate and secure location data.
Token Details.
Ticker: XYO
Token Type: ERC20
ICO Token Price: 1 XYO = 0,0224 USD (0,00003 ETH)
Sold in pre-sale: 100% BONUS
Whitelist: UNTIL 7 MAR
Sales Token.
Given the ultimate goal of giving people who purchase an XYO Token in the middle of our current Token Sales period, all unsold tokens after the Token Generation Event is over will be burned; likewise the tokens purchased in the middle of the setting turn into a limited and unusual resource, benefiting people who buy tokens in the middle of arrangements.
In the midst of Generation Token Events, Token XYO uses the standard Etheneum stage ERC20 tokens. To ensure the purchase of shielded XGA Tokens, we have held a third social gathering company to test our sharp contract audits to approve best practices.
Roadmap.
Join Us in Taking Blockchain to Earth!
Website: https://xyo.network/index.html
White paper: https://xyo.network/whitepaper/
Twitter: https://twitter.com/XYOracleNetwork
Telegram: https://t.me/xyonetwork
Facebook: https://www.facebook.com/xyonetwork
AUTHOR:Gunting
https://bitcointalk.org/index.php?action=profile
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