XY Reg A+ shares are not currently traded on an exchange; their value is effectively set by whatever a private seller chooses to charge and and a private buyer chooses to pay. We raised our price from $1 per share to $8 per share, a process which requires SEC approval. That’s a price rather than a value but if you wish to use it as a guide for what you would like to charge a buyer, you may do so.
- XYO is a blockchain project that was co-founded by Arie Trouw, Scott Scheper, and Markus Levin, towards the end of 2017.
- Most importantly, the reported signals sending this data must be locked securely and in time for public accountability later on.
- The direction of tomorrow’s technology is quickly approaching a world with self-driving vehicles, package-delivery drones and smart cities that develop and run themselves.
- In this sense, the decentralization of data sources makes the answer more reliable and less likely to be wrong.
- We raised our price from $1 per share to $8 per share, a process which requires SEC approval.
Not only does it give us the capital that is needed to sustain our rapid growth, but it also allows our owners to be part of our entrepreneurial experience. It also puts pressure on us, since now we are not only responsible for our own investment of time and money, but also for working every day to get a return for our investors. A sports bet is essentially a “contract” between two people; when a sports team wins, one person wins the bet and claims the money that both parties contributed. ” and consequently paying the party that correctly guessed which team would win the game. In that circumstance, the two people may stream the game from a third-party, or may consult “ESPN” or another sports website for the answer to “Who won the game?
XY Oracle
For example, take an eCommerce company that could offer its premium customers payment-upon-delivery services. To be able to offer this service, the eCommerce company would leverage the XYO Network and XY Platform (which uses XYO Tokens) to write a smart contract (i.e. on Ethereum’s platform). This could enable eCommerce retailers and websites to verify, in a trustless way, that the package not only appeared on the customer’s doorstep, but also safely inside their home. Once the package is confirmed to be in the customer’s home (defined and verified by a specific XY-Coordinate), the shipment is considered complete and the payment to the vendor gets released. The eCommerce integration of the XYO Network thusly enables the ability to protect the merchant from fraud as well as ensure consumers only pay for goods that arrive in their home. Similar to Bitcoin, and most blockchain technologies, the most compelling property of blockchain is the built-in accountability that is inherent of a fully-public ledger.
1 Incentivizing Token Usage
The token user receives economy-based rewards which are given up by XYO Miners who could have computed or verified the data, but elected not to in order to maintain the health of the ecosystem. Essentially, rich machines forfeit the reward they would have received and pass it on to the transacting end-user as well as the second-best machine that took over the task, in order to create a higher quality token system. The problem most cryptoeconomic incentives have is that the focus is placed too strongly on the token miners, and not at all on the token users.
However, up until this point, every platform (including Bitcoin and Ethereum) has focused almost entirely on digital channels (the online world), instead of real world channels (the offline world). Complete cryptocurrency market coverage with live coin prices, charts and crypto market cap featuring coins on 750 exchanges. With over a year’s experience as a blockchain journalist, Mehdi’s work has been published on cryptocurrency publications including decentral.news, cryptodisrupt.com, steemit.com. 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. John is given an identification bracelet that is also an XYO Network Sentinel, which keeps a record of any XYO Network devices John interacts with.
As is characteristic of the crypto market, inorganic bull runs indicated by quick price surges are usually short-lived and triggered by a sudden increase in trading volume. That’s right; the team puts forth many documents for the prospective users with different levels of technical detailing. The white paper is technical-oriented and makes for a 20-pages-read of exceptional quality.
Prospective users are prompted to carefully follow the instructions on the website and only send ETH to the token address listed. CryptoGround.com is an independent publishing house that provides Cryptocurrency & Blockchain Technology News. It is a News Media Platform which serves its audience with accurate News and Analytical Articles. Our team is committed to providing unbiased News & Reports related to various Cryptocurrencies, Decentralized Apps, Initial Coin Offerings (ICOs) and Blockchain technology. This series of consecutive double-digit gains is helping to inflate the value of the token to a new all-time high.
Effective March 1, 2019, our stock transfer agent changed from Carta to Broadridge Corporate Issuer Solutions, Inc. Welcome information was mailed to current shareholders with details on how to log into your online account via a secure portal.
The token sale event is live as of press time (from March 20th, 2018) and embodies a tiered pricing structure with an initial token price of 100’000 XYO tokens per 1 ETH. By applying Zero-knowledge proof to the location data, XYO builds a trustless, decentralized network of high-certainty data that is spoof-resistant all on its own. Through this, there are plentiful use cases for the XYO network, from supply chain tracking to recovering lost items to tracking insured vehicles. In recent days, it appears investors are honing in on these very practical use cases; transaction volume in XYO is steadily increasing by the day. As InvestorPlace contributor Chris MacDonald noted yesterday, the XYO token saw a rise of over 50%. XY has been working towards building an open world of location-verification since 2012 by launching a successful Bluetooth/GPS consumer business critical to understanding and building a real-world location network.
The Token Sale Event
With the rise of decentralization, some oracles may compare data from numerous sources in order to retrieve a more trusted response. With the sports bet example, an oracle may check multiple sports news websites, rather than relying on your grandfather’s https://cryptolisting.org/ email about the outcome of the game. In this sense, the decentralization of data sources makes the answer more reliable and less likely to be wrong. As a whole, Bitcoin would benefit more if market participants collaborated to some degree.
Decentralizing confirmation of location by using a network of interconnected devices allows for a significant paradigm shift in how the world can source location data. Utilizing blockchain technology to verify and record location data makes location-reliant systems secure, transparent, and reliable. The importance of crypto-location technologies making their way to multiple platforms should be highlighted before moving on. Yet, there are other compelling blockchain platforms that make strong arguments for their use, especially in specific applications. Our open-ended architecture ensures that the XYO Network of today will support the blockchain platforms of tomorrow. The XYO Network supports all blockchain platforms that possess smart contract execution .
Considering these imminent innovations makes it glaringly evident that our dependence on location data will, without question, eclipse our current usage by an insurmountable magnitude. With the emergence of these location-reliant technologies, our lives will be in the hands of machines, and our safety will sit in direct proportion to the accuracy xy oracle and validity of the location data used by these new systems. Securing and creating a trustless source of location information will be crucial to successfully transitioning to the world of tomorrow. Surprisingly, the concept of applying location verification to blockchain technologies first appeared in September 2016 at Ethereum’s DevCon 2.
XYO Network aims to create and provide a more reliable and decentralized oracle to battle some of the downsides that come with centralized location oracles. The data that smart contracts rely on (oracles), must be verifiable and have a high degree of accuracy. The systems that record and deliver this data must protected from any interference, attacks and/or error. Most importantly, the reported signals sending this data must be locked securely and in time for public accountability later on. These requirements are all fulfilled through the unique and robust properties of blockchain technology. When a customer finalizes an order, a smart contract is created which will release payment to the merchant upon successful delivery of the purchased product.
Best Platforms
In summary, Proof of Location can be understood as leveraging the blockchain’s powerful properties, such as time-stamping and decentralization, and combining them with devices that are hard to trick. Similar to how the weakness of smart contracts centers around oracles that use a single source of truth (and thus have a single source of failure), crypto-location systems face the same problem. The vulnerability in current crypto-location technologies revolves around the devices that report back an object’s location. The true innovation at the core of the XYO Network centers around a location-based proof underlying the components of our system to create a secure, crypto-location protocol.
Archivists store and encrypt this data, which may be accessed by Diviner nodes to serve user queries for location event data. Additionally, the current limitation with Proof of Location protocols (and many other blockchain DApps) centers around their complete and total reliance on Ethereum. Indeed, for some use cases (such as micro-transactions leveraged by IoT devices), end users may wish to use a platform that does not charge fees for each transaction. Until now, many smart contracts have been unable to use reliable and decentralized oracles for contracts related to location. ” would normally consult an oracle like UPS or FedEx tracking, which relies on GPS and other forms of centralized location data.
