However, the bullish breakout was corrected after bears took over the XYO Oracle price for the next six days leading to January 11, losing most of the gains made during their session high. XYO, a unique cryptographic token, serves as the foundation for the XYO Network. The tokenomics of XYO reveal some interesting aspects that investors might find beneficial.
The team of XYO network provides actual use cases of the technology for eCommerce, insurance, national security, drones, rental car, airports, and hospitals. Create your account below to receive exclusive access to a wide range of trading tools such as premium XYO Network price predictions, advanced XYO buy/sell signals and much more. Keeping up-to-date with the latest news and developments is essential for any investor or follower of XYO. The following platforms provide the most recent updates, announcements, and discussions about XYO.
- Securing and creating a trustless source of location information will be crucial to successfully transitioning to the world of tomorrow.
- Data tampering is tempting when a party is financially incentivized to do so, which is why cryptoeconomics are typically utilized to make such actions economically unviable.
- This is exactly what XYO Network aims to accomplish by using blockchain technology to transform how geospatial data is collected and validated.
- Most of them are remain dead, some of them are a scam, and there is a little number of cryptocurrency projects that really strives to make a world a better place.
- This network of components makes it possible to determine if an object is at a specific XY-coordinate at a given time, with the most provable, trustless certainty possible.
Other devices on the XYO Network will likewise record their interactions with other packages being shipped. Every one of these interactions will be independently verifiable, asserting a web of locational certainty that stretches all the way back to the shipment’s point of origin. When the shipment reaches its destination (as confirmed by its interaction with XYO Network devices within the buyer’s home), the smart contract will be executed and the payment will be released.
The notion is astonishingly simple, yet up until this point in history, revolutionary approach was not possible. The XYO Network also provides mechanisms to maintain a healthy economic token system and a balanced liquidity ratio. XYO Miners are incentivized to not only provide accurate data but to also know when to provide no data at all. In order to not pollute the ecosystem with inaccurate data, an XYO Miner can pass off the opportunity to a competing XYO Miner (i.e. Sentinel, Archivist, etc.). The end-user holding XYO Tokens is encouraged to transact more when network liquidity is low, compared to when network liquidity is high.
Although FightOut has been running just for a few weeks, it has already attracted a huge fan base, with its native token, FGHT, being available at discounted prices for the presale. Interested investors should capitalize on it as the price will rise once the presale ends. FightOut is a move-to-earn (M2E) project where users are rewarded handsomely for completing challenges within a unique fitness metaverse. Moreover, the moving average convergence divergence (MACD) indicator was moving higher in the positive region away from the zero line, suggesting that more buyers than sellers populated the XYO market. Since the year started, XYO price had increased 123%, a trend that had proven remarkably bullish, especially during the first week of 2023 when it reached the highest point since October last year.
- Blockchain platforms have the ability to facilitate smart contracts which enable the automated execution of agreements.
- At the heart of this network is the XYO token, which incentivizes the ecosystemâ€™s devices to transact with each other.
- Whether you’re an influencer aiming to monetize your presence or a curious potential investor, this guide sheds light on all facets of Friend.tech.
- This kind of transparency can minimize disputes between consumers and e-commerce companies about the location and delivery status of packages.
- This system can show a package’s entire journey, from the warehouse to the consumer’s doorstep.
We thank Raul Jordan (Harvard College, Thiel Fellow and XYO Network Advisor) for his suggestion to compose a separate green paper in the first place. We thank Christine Sako for her exceptional work ethic and attention to detail in her review. After spending a great deal of time and effort structuring our white paper, Christine carried her work even further by applying the same best-practices to our green paper. Last, we thank John Arana for his careful review and creative input for our efforts. The XYO Network provides mechanisms to maintain a healthy economic token system and a balanced liquidity ratio.
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Data tampering is tempting when a party is financially incentivized to do so, which is why cryptoeconomics are typically utilized to make such actions economically unviable. The above example does not rely on cryptoeconomics for certainty; rather, to protect against this vulnerability, a concept called consensus is deployed for oracles. This enhancement requires the smart contract to not only rely on one data source, but multiple sources of data, all of which must agree and achieve consensus on the winner in order for the contract to execute. Creating such a contract enables two parties to transact with their agreement in a peer-to-peer manner, eliminating need for a trusted third party.
Lastly, Levin is a serial tech entrepreneur who has led a range of ventures, including Novacore, Hive Media and Koiyo. The XYO subreddit is a community-driven platform where users can discuss, debate, and share news about XYO. It’s a great place to get a feel for the sentiment of the crypto community towards XYO and to interact with other enthusiasts and investors.
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. 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. Securing and creating a trustless source of location information will be crucial to successfully transitioning to the how to check coinbase limit 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 along with XYO coin introduced an innovative way for decentralized collecting, validating, storage and use of geospatial data. Needless to say, that the project itself wants to eliminate the middle man from location data gathering while bringing decentralization and transparency to the businesses.
What will be the price of XY Oracle (XYO) in 2025?
A decentralized network eliminates the motive to profit from transactions, which could otherwise encourage malicious actors to build fake user profiles without permission. Since the data is publicly accessible, there is no incentive hyperspace coin to profit by accessing and selling information. This is made possible by virtue of the identityless nature of the data comprising the XYO Network. As they say, the XYO Network is applicable to different areas of our daily lives.
Basically, it collects this data from the real world and feeds it into a blockchain protocol. So XYO Network allows developers of the smart contract and blockchain system to interact with the physical world like an API. XYO (XYO) is a decentralized network of devices that anonymously collect and validate geospatial data, or data with a geographic component. At the heart of this network is the XYO token, which incentivizes the ecosystemâ€™s devices to transact with each other. XYO aims to create an environment where location data is verified and reliable, so it can be used in various industries and applications, such as e-commerce tracking and drone package delivery, among others.
Contract Source Code Verified (Exact Match)
The XYO Token takes both into account by defining the ideal-state and rewarding market participants who hold in-memory accounts of the ideal-state and act upon it being met. XY’s team is comprised of seasoned engineers, business development professionals and marketing experts. Scott Scheper and Markus Levin joined as co-founders of the blockchain initiative in 2017 to assist in building the XY Oracle Network. The XYO Network will be built upon an existing infrastructure of 1,000,000 devices that have been distributed throughout the world via our consumer facing business, XY Findables.
From straightforward to complex, the XYO Network’s usage has vast applications that span a multitude of industries. 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.
Remember, the choice of wallet largely depends on your personal needs and preferences, such as the level of security you require and the other cryptocurrencies you hold. You can deposit either fiat currency, like USD, or an existing cryptocurrency, like Bitcoin or Ethereum. Coinbase supports a variety of payment methods, including bank transfers and debit card payments. The XYO network can be used in tracking the location of rental cars and shared vehicles. In this case, the XYO can provide a decentralized and trustless record of where a car has been. 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.
It provides a wealth of information about the project, including details about the team behind XYO, technical aspects of the platform, and information about upcoming events and developments. The XYO network can be utilized in the supply chain and logistics industry to how to buy hoge coin track the location of goods. This can provide a transparent and reliable record of a product’s journey from the manufacturer to the consumer. This can be helpful in verifying the authenticity of goods and preventing counterfeit products from entering the supply chain.