XY Oracle Network (XYO)

What is XYO Network?

XYO Network stands for XY Oracle Network; Oracle because this ICO aims to be the god of geolocation services in the future. This project is a transition from traditional geolocation system to a decentralized, blockchain-based technology. By incorporating their system into the blockchain, better security against cyber-attacks can be guaranteed, therefore safeguarding the assets and liabilities of their clients. Basically, XYO Network is data location provider that aims to execute data location confirmation using smart contracts.

XYO Network Cryptoeconomics

The XYO Network has a utility token called XYO tokens which can be used for transactions inside the XYO Network ecosystem. These tokens will serve as a gas that will put the 4 components into work.

The process works like this:

A person makes a query (e.g. “Where is my eCommerce order package with XYO Address 0x123456789...?”) and sets the desired confidence level and XYO has the price for it. The cost of a query in XYO tokens will depend on how much data are needed to provide the answer to the query. The more data needed, the more expensive the query and higher the XYO gas price.

Once the price is paid, the Diviners will then set to work and scan the relevant data stored by the Archivists which were relayed by the Bridges from the Sentinels. Sentinels are basically devices or signals such as Bluetooth trackers, GPS trackers, geo-location tracking built into IoT devices, satellite tracking technology, QR code scanners, RFID scanning and many others, which are used to verify the location of an object. After the query is answered, all four components involved in the transaction receive a portion of the XYO gas paid by the token holder: the Diviner (who searched for the answer), the Archiver (who stored the data), the Bridge (who transmitted the data) and the Sentinel (who recorded the location data)

Token Sale

The XYO token is an ERC20 standard token backed by Ethereum smart contracts. The tokens have a total supply of 100 billion tokens. The main ICO tokensale starts on March 20 and will end on May 20 of this year, all in all, the crowdsale duration is 2 months.

The tokensale has a tiered pricing structure that starts at 1 ETH = 100 thousand XYO tokens and then maxes out at 1 ETH = 33 thousand XYO tokens at end of the tokensale. So if you are planning to invest in XYO Network, it would be better to buy tokens now as you will have an over 100% discount compared on buying tokens to the near end of the tokensale. After the tokensale, all unsold tokens will be burned and no more additional tokens will be issued in the future.

Team

XY to Expand Global Reach of Entire XY Oracle Network

For More Information:

Website: https://xyo.network/index.html

Whitepaper: https://xyo.network/whitepaper/

Facebook: https://www.facebook.com/xyonetwork

Twitter: https://twitter.com/XYOracleNetwork

Telegram: https://t.me/xyonetwork

Author : Eslilin667

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1592209

Eth Address : 0x8BF5F2559AeAe3f5CBf48cD6994A3fDb9B2Bc0a8