The XY Oracle Network: A DECENTRALIZED SYSTEM OF LOCATIONS

XY Oracle Network or XYO Network offers a trustless and cryptographic location network that makes use of a novel formulation which is based on a chain of zero-knowledge proofs. This allows for a high degree of certainty about the information related to the location. XYO facilitates layered, location verification across multiple protocols and device classes. At its core sits a set of novel mechanism of cryptography, known as Proof of Origin & Bound Witness. It combines the power of blockchain technology and real world data collection into a system for direct applications.

XYO Network aims to create a decentralized and trustless system of location oracles which is not only resistant to attacks but also provides highest possible certainty when queried for the available data. The platform developers achieved this by implementing a set of abstractions that greatly reduce the risk of location spoofing. For this, they make use of zero-knowledge proofs along the components of the system. The system makes use of a protocol of connected devices to provide high certainty on the location data. The users can issue transactions or “queries” to get the location data on a blockchain compatible platform.

The key features of the platform

Historical Background
The concept of provable location has been around for long that can be traced to ground-based radio navigation systems like LORAN. These days, we have location services that stack multiple mediums of verification on top of one another. This is done to have a Proof of Location using GPS and triangularization services. However, these approaches can’t detect fraudulent signals and also disincentivize the spoofing of location data. In such a scenario, the crypto location platform that focuses on proving the origin of physical location system is going to be the most significant one.

How XYO Network is Unique
The case with XYO Network is quite different. In this ecosystem, the off-chain data source moves around in the real world as a specialized type of Oracle, which they call as Sentinel. The core innovation of the network centers around an anonymous, location-based proof to create a protocol that is based on crypto-location and is trustless too.

The network will be built over 1,000,000 devices circulating in the world. Bluetooth and GPS devices of the company allow the people to place physical tracking beacons on the things they want to keep track of. These things could include luggage, expensive items, automobiles and even pets! They can always locate these objects on their smart phone application. Currently, XYO boasts of the largest consumer Bluetooth and GPS network in the world.

XYO Token Details
Token Ticker: XYO
Token Name: XYO Network Utility Token
Contract Type: ERC20

Unsold and unallocated tokens will be burnt once the token sale event is over. No further XYO tokens will be created after the conclusion of the main sale. So, the tokens purchased during the main sale by the investors become finite and scarce resource, which benefit and reward those who purchased them during the sale.

XYO Token Economy
XYO tokens are used to incentivize the desired behavior by providing accurate and reliable location heuristics. The tokens can be thought of as “gas” needed for interfacing with the real world to verify the XY-coordinate of a specified object. One can set a desired confidence level and XYO gas price during the creation of query. The cost of query, which is to be charged in XYO tokens depends upon the market dynamics as well as the amount of data required to provide an answer. More the data needed, the more expensive the query will be and higher will be the XYO gas price.

THE TEAM
THE XYO TEAM is comprised of seasoned engineers, business development professionals and marketing experts located in downtown San Diego, California. Arie Trouw solely founded XY Findables in 2012. Scott Scheper and Markus Levin joined as co-founders of the blockchain initiative in 2017 to assist in building the XY Oracle Network.

Arie Trouw
Founder & Architect

Ten years before Elon Musk wrote his first line of computer code, another young engineer in South Africa was busy writing software on his TRS-80 Model I. In 1978, at the age of 10, Arie Trouw started developing software on the TRS-80 Model I, moving on to Atari, Apple, and PC. He then ran a series of bulletin boards centering on game-theory modification.

Scott Scheper
Co-founder & Head of Marketing

Scott's career has revolved around technology startups and digital advertising since 2008. Scott's first "real 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.

Markus Levin
Co-founder & Head of Operations

Markus mined his first Bitcoin in 2013 and has been captivated by blockchain technologies ever since. Markus has over 15 years experience in building, managing and growing companies around the globe. Markus is originally from Germany (with English as his second language), and specializes in getting the most out of companies by implementing data-driven systems and utilizing the key talents of each employee to get the best out of his team.

You can view the rest of the entire team by clicking of this link: https://xyo.network/team

THE ROADMAP

THE PARTNERS

FOR MORE INFORMATION FOLLOW THE BELOW LINKS
Website: https://xyo.network/
Ann Bitcointalk Thread: https://bitcointalk.org/index.php?topic=3040825.0
Whitepaper: https://xyo.network/whitepaper/
Facebook: https://www.facebook.com/xyonetwork
Twitter: https://twitter.com/XYOracleNetwork
Gift Hub: https://github.com/XYOracleNetwork
Reddit: https://www.reddit.com/r/xyonetwork
Medium: https://medium.com/@XYOracleNetwork
Youtube: https://www.youtube.com/channel/UCyZDqb9pgntVHJVt1pxXtsw

Writer's Bitcointalk Username: PLMovs
Writer's Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2035939