Up till date there has not been any network or platform that has enabled two parties to perform transactions in the real world without the intrusion of any centralized third party. XY Oracle Network which has developed efficient Bluetooth and Global Positioning System (GPS) devices which enables tracking of any item has decided to come up with a solution to combat this problem. The XY Oracle Network will devise means that will eliminate the negative impacts associated with the certainty and accuracy of location data.
The GPS has been known to be precise and useful in several applications including locating features in the real world, monitoring and tracking items and people, navigation etc. However, there are some errors associated with its usage which have the capability of having harmful effects in our society as well as the economy. Some if these errors include multipath errors, intentional errors – selective availability and spoofing, errors associated with the geometry if the satellites, cyber-attacks, atmospheric effects and so and so forth. These errors attach some uncertainty with the kind of data that is produced by the GPS.
The XY Oracle Network seeks to develop a trustless, decentralized system of location oracles that provides data with the highest possible certainty.
The XYO Network will utilize its four components and a protocol of connected devices to provide location data with a high certainty. The heart and soul of this great ideology is the Proof Of Origin and Bound Witness.
The components of the XY Oracle Network are underlined with an identityless and location-based proof which enables the creation of a trustless, crypto-location protocol. This novel idea of XYO Network is one of a kind and will go a long way to provide location data with the least uncertainty. The components include Sentinels (the data Gatherers), Bridges (the data Relayers), Archivists (the data Storers) and Diviners (the answer aggregators).
Sentinels collect and gather location information via sensors, radios, and other means. Sentinels also act as witnesses to the location. Bridges serve as the intermediaries by conveying information from the Sentinels to the Archivists. Archivists store this information for Diviners to analyze. Diviners analyze location heuristics from Archivists in order to generate answers to queries and assign accuracy scores to them.
The components of the XYO Network will be rewarded and incentivized so that they will be honest with the information they provide.
- The XY Oracle will be able to detect false signals and solve the problem of spoofing, thereby providing location data with actual proof of origin.
- XYO Network components will ensure that the location data which is provided of an object is truly at a specific XY coordinate at any given time. This will provide credibility with any location data that is provided.
- XYO Network enables transactions between two parties in the real world without the involvement of any third party.
- XYO Network will utilize the proof origin chain to eliminate any fraudulent information and provide information with the highest accuracy to users.
- XYO Network’s ideology will be built on an already established consumer market consisting of 1 million devices.
- The XYO Network’s ideology can be utilized, practically, in anything that demands records keeping and monitoring.
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Visit these relevant links for further information on XYO Network and ICO:
XYO NETWORK WEBSITE
XYO NETWORK WHITEPAPER
XYO NETWORK TELEGRAM
XYO NETWORK ANN THREAD
XYO NETWORK BOUNTY THREAD
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