The XYO Network is the world’s first oracle protocol that makes it possible for two entities to transact in the real world without a centralized third party. Their abstractions allow they to make location verification trustless for developers, creating a protocol with novel use cases that have not been possible until today. The XYO Network will be built upon an existing infrastructure of over 1,000,000 devices circulating in the world that were distributed through their consumer-facing findables business. XY’s Bluetooth and GPS devices allow everyday consumers to place physical tracking beacons on the things they want to keep track of . If they misplace or lose such an item, they can see exactly where it is by viewing its location on a smartphone application. In just six years, the XYO Network has created one of the largest consumer Bluetooth and GPS networks in the world.
Blockchain As a Single Source of Trut
Diviners are able to explore the entire Archivist network to concretize an absolute answer to a query on the XYO Network. Diviners are also the nodes that propose and add blocks to the XYOMainChain ,and get rewarded for their Proof of Work. Because the Archivist network is a store of unprocessed data and the blockchain is a store of absolute, processed data, the network can eventually use the latest information on the XYOMainChain to answer future queries instead of relying on expensive computation through the Archivist Network Since blocks on the XYOMainChain store the Proof of Origin Chain and graph of components that were used to answer queries, Diviners can explore this absolute data to achieve accurate results with lower bandwidth usage.
XYO Network’s Framework For Selecting The Best Answer
They define the Best Answer as the single answer, amongst a list of Answer Candidates, that returns the highest validity score and has a higher accuracy score than the minimum required accuracy. The validity score is based on the Origin Chain Score. The system knows what the highest record Origin Score is, which would be the 100 percent until a higher score is achieved, which then becomes the new 100 percent. The XYO Network allows selection the Best Answer Algorithm for determining the Best Answer. This creates expansion for future research into alternative algorithms.
The public token sale has a tiered pricing structure that starts at 1 ETH: 100,000 XYO and maxes out at 1 ETH: 33,333 XYO. Details regarding their volume and time based pricing structure will be announced soon.They use XYO Tokens to incentivize the desired behavior of providing accurate, reliabl location heuristics. XYO Tokens can be thought of as “gas” needed to interface with the real world in order to verify the XY-coordinate of a specified object.A user can set their desired confidence level and XYO gas price at query creation. The cost of a query is determined by the amount of data required to provide an answer to the query as well as market dynamics.