XY Oracle (XYO) Network- The Proof-of-Origin Based Cryptographic Location Network

The necessity for Oracle services which arbitrate the result of a contract has developed significantly with the start of blockchain-based, trustless smart contracts. Most present applications of smart contracts depend on a single or aggregated set of authoritative oracles to resolve the result of the contract. This is sufficient in situations where both parties can agree on the authority and purity of the specified Oracle. But in many cases, either a suitable oracle is not present or the oracle cannot be considered authoritative due to the possibility of inaccuracy or corruption. Location oracles come under this category. The prediction of the location of a physical world item depends on the recording, transmit, store, and processing constituents of the given Oracle, all of which present fault and can be corrupted. Data manipulation, data pollution and loss, collusion are considered as risks.

The XY Oracle Network

The aim of the XYO Network is to form a trustless, decentralized system of location oracles which is unaffected by attacks and make the largest certainty possible when queried for existing data. This is accomplished through a set of abstractions which decreases the danger of location spoofing greatly by a chain of zero-knowledge proofs along the constituents of the system. Then Aggregators from the XYO Network attend these queries delivered to the contract. Thus, the solutions are gained which have the greatest accuracy from a decentralized set of devices which transmit cryptographic proofs back up to these aggregators. Then these answers are fed back into the smart contract by aggregators after coming to an agreement on the answer with the greatest score. It is possible to decide if an object is at the exact XY-coordinate at a specified time, with the most verifiable, trustless certainty possible.

XYO Token Economy

Oracles have a significant share of the power and infrastructure required for decentralized applications, with greater focus concentrating around the aggregation and connectivity of authoritative oracles. The necessity for a completely decentralized and trustless system of oracles is required for decentralized applications to come to their highest potential.

XYO Network Expansion

Fortunately the consumer business has effectively created an actual-world network with more than one million GPS and Bluetooth devices globally. Other location networks fail to come closer to this phase and achieve the critical mass needed to build out an extensive network. The Sentinel network which was formed is only the first step. The XYO Network is an open system where any operator of location devices can plug into and start receiving XYO Tokens.
Usually, the reliability is high when the Sentinel cardinality in the XYO Network is higher. To grow its network of Sentinels further than its own network of XY Findable beacons, XYO network is involving with other businesses.

XYO Token Specifications

⚡️ Token: XYO
⚡️ Smart contract platform: Ethereum
⚡️ Contract Type: ERC20
⚡️ Token Name: XYO Network Utility Token
⚡️ Token Address: 0x55296f69f40ea6d20e478533c15a6b08b654e758
⚡️ Overall issuance: Finite at the number reached after the Main Sale of Token

XYO Network Token Sale Distribution

Please go through following official links to know more details about XYO :
XYO Official Website
XYO WhitePaper
XYO Ann Thread
XYO Bounty Thread
XYO Telegram

AUTHOR
Name : Ishani Lakshika
BitCoinTalk Profile