XYO ICO Review
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With the increasing use of location-based technology in the society today, certainly, there is the need of disrupt-proof geo-location system. This is an attempt to guarantees users of their privacy as well as the security of their data. The XY Oracle Network is an innovative project that sees itself as the ideal location technology to achieve this. At its core sits a novel of cryptography mechanisms known as Proof of Origin and Bound witness, which is designed in such a way that forging or breaching of data confidentiality is practically impossible.
What Is XYO?
Generally, XY Oracle Network project aims at decentralizing network collection and analyzation of location information mainly for location-reliant trade markets. Through leveraging the strengths of blockchain technology and integrating it with the Internet of Things, the XYO protocol creates a new tracking system which is more certain and secure compared to the conventional location technology. This new tracking system heavily relies on geolocation devices such as Bluetooth enabled devices, mobile phones and other devices capable of recording location information as well as the already available location-verifying beacons worldwide.
How XYO Work?
There is a wide range of ways in which the users can interact with the XYO network, among them include the use of smart contracts. When the user writes a smart contract for a certain package to be located at a specific XY coordinate, if the package is indeed located at the specified coordinate, the user will know with absolute certainty that the package was at that specified location. All this is made possible by an ecosystem of four components namely; Sentinels, Bridges, Archivists, and Diviners that work in a consensus to ensure a trustless and secure way of location data verification. Given the increase of e-commerce companies that accepts payment on deliveries, the XYO Network places itself as a reliable geolocation system for such companies to track a package throughout the supply chain and into the costumer’s house. Once the package is safely delivered, using the smart contracts, pay can then be released.
- Decentralized: XY Oracle Network adopts a verification geolocation system that does not involve any large or fee-based institution. The network facilitates the interaction of the smart contracts with the real word to create a transparent system that is free to use.
- Certainty: As mentioned earlier, XYO Network is an ecosystem of crypto-location protocols and components that work together to create a trustless geolocation verification system. This means that the users can track an exact package
- Multiple participants: Apart from the four components the network includes data mining devices such as geolocation devices and satellite tracking technology for its full functionality. The partner companies support this network project by providing a network of Bluetooth and GPS devices that act as virtual Sentinels of the XYO Network.
XYO ICO team
Arie Trouw – CEO, COO, Chairman of Board of Directors
Arie Trouw is a successful entrepreneur with a history of technological breakthrough and business successes. He holds a Bachelor’s degree in Computer Science from the New York Institute of technology, and he’s currently the CEO, COO and the chairman of Board of Directors.
Scott Scheper – Co-Founder, Head of marketing
He is the co-founder and Head of marketing who shares a history with Arie Trouw. They have been working together since 2009 up to date. In 2013 he designed a programmatic agency aimed at direct-response media buying. The project was a huge success that saw it generate over $12M in revenue.
Markus Levin – Co-Founder, Head of Operations
Markus is a blockchain enthusiast whose interest in the blockchain technology was awakened when he mined the first Bitcoin in 2013. He has over 15 years of experience in building and managing several companies across the globe.
XYO ICO scam check
In an attempt to ascertain the legitimacy of the XYO token, we run a background check on the social media accounts of the heading team. According to our findings, we are glad to report that all team members’ accounts were found to be credible. Moreover, from the feedback of some of the crypto trading community platforms, we can verify the authenticity of the XYO ICO. Perhaps, one of the most satisfying features that guarantee the credibility of XYO is that it’s headed by a team of professionals with relevant knowledge of the pertaining location technology.
The minimum viable product is the GAMMA application which is set to be unveiled in the second half of 2018. The application will enable blockchain developers to generate smart contract codes that interact with the real world. Another MVP will be the XY STICK designed to enable e-commerce retailers to track their products in real-time, which will be rolled out at the same time.
The XY Oracle network targets a variety of users with e-commerce retailers being among the top most prospects. This simply because these retailers rely on geolocation systems for the delivery of goods to their customers. Other potential users include airlines, whereby they can use the network to keep track of the passengers’ baggage, and the transport industry in general. XYO coin, however, faces stiff completion from DEVPOST which also uses blockchain technology to track assets.
XYO ICO Business Model
The XYO utility token began selling at a price of 1 Ethereum for 100,000 XYO coins, after which the price of the XYO was set to increase after each successful transaction in order to reward the earliest buyers. This simply means that the amount of XYO coin one would get per 1 ETH decreases after each transaction. However, once the price hits 1 ETH= 33,333.33 XYO the dynamic price increase stops, and the remaining tokens will continue to be sold at that price.
The XY Oracle network sales team went further and adopted a token sale distribution aimed at inviting diversified participants in the buying of the token. From the general public, the XYO advisory team to various entrepreneurs with multi-national brands in different markets such as e-commerce, sports, drone delivery, gaming among others.
The most significant feature of XYO ICO is the ability to provide a high degree of data certainty on location information. This makes the network more reliable and secure compared to traditional GPS systems that are prone to spoofing and hacking. By integrating the power of blockchain technology in its mechanisms, users can keep track of their assets in real-time.
XYO coin is an ERC20 token. The token enables the users to interact with the real world as if it were an API, especially the ones that write smart contracts for blockchain platform. The investors firmly believe that this project will be the future of geolocation system in the modern work of location data reliance. This simply explains the sole purpose of the token which is to provide accurate and secure location data.
XYO utility token offers a tamper-proof and disruption-free location verification data, unlike the traditional GPS technology that suffers from jamming, spoofing or even worse cyber-attacks. Consequently, all these interferences can lead to severe effect not only the users’ privacy but also the economic activities of the people.
The XYO coin has been listed on TokenJar and CoinMarketCap. This token can also be stored in any ERC20 compatible wallets such as MyETherWallet.
XYO ICO Review Summary
The most successful economies in the world have every aspect of their activities tagged to a given location. The XYO project is, therefore, a visionary venture as it aims to maximize the various capacities of different activities, especially in the e-commerce arena, using accurate location capabilities. If the projects come to fruition in the course of time, both the users and investors will certainly reap big from it. XY Oracle network project offers to be on the frontline to address these needs. The project users range from e-commerce retailers to websites that require location data verification in a trustless way.
with the continuous technological innovations from self-driving cars to package delivery by drones the whole hype around the prospect of the XYO coin may actually turn out to be worth it. Additionally, the fact that the network project leverages the potential of blockchain technology renders it free from data corruption thus proving to be a reliable location technology. XY Oracle Network carries a lot of potential with it, however, the project will realize its full potential once it is adopted by the location-reliant industries.
It is our trust you have immersed enough knowledge from our XYO review. Be sure to check our site for the latest XYO ICO news. Thank you.