One of the most often overlooked technology by the public today is the geo-location capabilities of smart devices. As a modern civilization, we have become much dependent upon it. From simple mobile based navigation to the big satellites and logistics, tracking geolocation is an integral part of our lives.
Secure Locating With XYO
Modern technology can be sometimes vulnerable to hacks and cyber attacks. Spoofing and fraudulent geo signals can be used by different parties for their benefit. This is where XYO network steps in.
Using time-tested blockchain technology, the network aims to provide a secure, trustless, and decentralized proof of location platform. the protocol uses a private key for signing a transaction that signifies the parcel or package’s location that is obtained from secured nodes. This is further secured by what XYO describes a transient key chaining. This essentially is done by creating a temporary private key that signs for two consecutive packets of data. The public key within the data packet has the ability to pair the different temp private keys, making sure that any tampering is immediately detected.
XYO Components
The platform relies on four major components, each layered on top of each other, enabling consensus-based geo verification system:
Sentinels: As autonomous witnesses, these vouch for the certainty of data packets.
Bridges: Heuristic transcribers, bridges relay ledger information from the sentinels forward to archivists, in a secure manner. This adds a secured layer of proof of origin, confirming that sentinel data is not tampered with.
Archivists: Much like nodes on a Blockchain system, archivists store every and all information within the network in a decentralized manner, ready to reproduce upon a genuine request. Even if an archivist is down or disabled, other archivists can cover for it, with albeit a lower level of geo location verification.
Diviner: Diviners answer geolocation related inquiries, by judging the witnesses, based on the network’s Proof of Origin protocol. Diviners are the incentivized components of the whole system.
XYO Token, Incentivizing The System
Like all Ethereum based platforms, XYO Network has its own internal token. They XYO is an industry standard ERC20 compliant token. The token will be used within the network to monetize and incentivize transaction.
XYO token is currently in its main coin offering stage, that will end in about a month. The sale rate is dynamic and is decreasing steadily as more and more coins are bought up. Currently, the sale rate is around 99,842 XYO per ETH, get it now on the Website: https://xyo.network/.
