“It is the Latest Breakthrough in XYO Technology Blockchain and can be greater than Bitcoin and Ethereum Combined”
Often new technology arrives that changed the way we live. When Thomas Edison discovered the light bulb in the late 19th century, he illuminates the world. And we haven’t been living ever since.
When the Wright brothers became the first person to reach the flight at the turn of the last century, he changed the way we explore the world. When the Internet became mainstream in the 1990s, the whole world becomes connected.
And now a new technology has arrived that will once again change the way we live … and rocked the institutions such as banks and Government come to the bottom line while doing so.
If you thought the Bitcoin and Ethereum has shaken the world, you need to prepare for what will happen next.
This new breakthrough is set to be larger than both of them combined. It will change the lives of millions of people in every corner of the world and enter the market untouched, each worth more than $11 trillion per year.
To understand how, let’s first get some perspective
MEET ETHEREUM
In the year 2013, there is another breakthrough …
The new blockchain platform called “Ethereal” developed. This introduces the Turing-complete programming language into blockchain and open a world of new possibilities.
To understand how it works, think of the Bitcoin as Calculator application on your phone, and the Ethereum as the operating system of your phone that lets you have a lot of applications with many features. One of the main features that are built into the functionality of the Ethereum called “contract”-transaction protocols that essentially shut down payments and the implementation of the agreement to the same thing.
Rather than a contract written on a sheet of paper and signed with black ink, Ethereal world lets them written in computer code and executed when certain conditions are met. For example, imagine if you want to place a bet for $20 then certain sports team will win the game. You could write a contract, and when the game is finished, he will be checking his score and automatically send Eher $20 worth of losers into winners.
Since the contract smart client node running on a decentralized Ethereal, you no longer have to rely on a third party, such as a sports book service, to facilitate this transaction type. As a result, intermediaries, and their costs, eliminated.
The best part is that this is just the beginning.
Etereum developer can also create its own applications that do not rely on third-party authority. This is why they are called application of decentralized or “DApPS”.
They run a blockchain built a special, global infrastructure along with a very strong value that can move around and represent ownership of the property. All without the risk of downtime, censorship, cheating or interference by third parties.
However, the Ethereum has one major weakness. Smart contracts because they require third party verification to a centralized, it makes them vulnerable to hackers.
Take the example of sports betting. In the world of the Ethereum, sources where smart contracts got the score of the game (i.e. the sports site that lists game score) is called “prophecy”. A hacker or even employee insiders could infiltrate into the oracle (such as ESPN.com), where the contract checking scores, and change the score in their favor. Not much to worry about when the stakes are $20. However, this becomes a critical point of failure when you consider some of the transactions as high as $200,000 or more.
To get around this, some of the “prophecy” was used to build the so-called “consensus”; This means that smart contracts should be examined with some prophecy and they must all agree to the score of the game, for example. Thus, his contract is only executed when there is consensus and all third parties showing the score the same.
Since the emergence of the Etereum, there has been growth and the creation of a rapid DApps and related technologies with kriptocurrency.
They have revolutionized how people transacting online-market which is worth $11 trillion per year.
Even at this early stage, technology blockchain has a huge impact on the world. However, after seeing how they change the world online, the next natural question is.
XYO
Smart Contracts, like those used by Ethereum and other cryptocurrencies, will fundamentally change the way we interact and do business by streamlining processes, reducing risk, and cutting out middle men. One thing all Smart Contract platforms lack, however, is a definitive way of proving that something or someone was in a given location at a specific time. An authoritative, trustless, and decentralized proof of location oracle is essential for the idea of Smart Contracts to be adopted by the mainstream world.
What is XYO?
XYO is blockchain based trustless, zero-knowledge proof, cryptographic location network that eliminates the need for centralized location data gathering. XYO Network will enable locating any object or individual through many device classes and protocols. To make this possible XYO team is using "Proof of Origin" and "Bound Witness" to merge decentralized blockchain world with our real-world data into one new game-changing network.
The XYO Network will be the definitive location oracle because of two core concepts it introduced: Proof of Origin and Bound Witnesses. The concept of Bound Witnesses guarantees that two different components of the XYO Network were in the same location at the same time. Proof of Origin ensures that the information a component provides is valid and resistant to falsification. Detailed information on both of these concepts is available in the XYO Network white paper.
Providing authoritative proof of location has the potential to change the world. Here are just a few ways the XYO Network will disrupt existing industries.
The XYO Network incentivizes the reporting of locations and archiving of ledgers by awarding XYO Tokens to nodes within the web. For example, when a last-mile courier like a UPS driver encounters an XYO Network node on their route, the node will record their XYO Network ledger to be archived. Leveraging cryptoeconomics in this way takes advantage of a key feature of blockchain technology — it’s a trustless, decentralized system. This means it can offer third-party verification and a degree of reliability that current tracking systems simply can’t provide.
- Problem
- Solution
How it Works?
When a customer finalizes an order, an Ethereum smart contract is created which will release payment to the merchant upon successful delivery of the purchased product. The shipment will include an XYO Network Sentinel, a low-cost electronic device that records its interactions with other devices on the XYO Network on its blockchain ledger. Other XYO Network devices will likewise record their interactions with 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 fulfilled, and payment will be released. Should there be a dispute, the ledger will provide a history that can confirm the delivery of the shipment or show where it went off track.
The terminal point of the transaction — the point where the package is delivered and payment is released — will be determined at the time the order is placed. Amazon has experimented with multiple secure delivery systems, including lockers in public places like convenience stores and even electronic locks that give their delivery team access to customers’ homes. XYO Network devices within these secure locations will confirm delivery. In an Amazon locker, the shipped package will interact not just with its locker, but with XYO Network devices in other lockers and the customers that use them. In the customer’s home, the XYO Network nodes could include the customer’s phone, IoT devices, and even the Amazon Echo that was used to place the order.
I must say that I am impressed with everything about XYO project, from their website, promotion video, idea, already established business, a ton of documents and papers with use cases and business plans for the future and of course people behind this project. This is how you prepare a project for ICO and present it to the public and potential investors, and all future ICOs could learn from XYO. Big respect from me and you got me on board as an investor, that is for sure. For everyone else planning to participate in this ICO, I encourage you to join the WHITELIST FOR TOKEN SALE and do your due diligence on XYO before it starts. I will write more about this project in the future so stay tuned for details about team, tokenomics, roadmap, business plan and more.
XYO Token
ublic token sales have a tiered pricing structure that starts at 1 ETH: 100,000 XYO and maxes out at 1 ETH: 33,333 XYO. Details about volume and price based on our time structure will be announced soon.
- Smart contract platform: Ethereal
- Contract Type: ERC20
- Token: XYO
- Token Name: XYO Network Utility Token
- Token Address: 0x55296f69f40ea6d20e478533c15a6b08b654e758
- Total issuance: Finite and capped at the amount achieved after the Token Main Sale
ROADMAP
2017
XY Releasing Ground Tracking Device Tracking: The "XYGPS"
XY launched the world's first GPS hybrid and Bluetooth enabled device. XYGPS can report its location anywhere in the world where Cellular data and GPS are available.
XY Releases XY4 + Device
XY released an XY4 + device that makes it capable of operating as an XYO Network node through firmware updates.
XY Crossing the 1,000,000 Beacon Marks
XY device one million born.
Blockchain-Based Oracle Network XY Born
The development of moving the network platform of the internal XY location to the open block implementation started: The Oracle XY network was born.
2018
Q1 & Q2
XY Mints The first "XYO Token" Used for Intelligent Contracts to Access the XYO Network
The first XYO Token is created and represents the official currency to be used throughout the XYO Network.
XY to Complete XYO in Test Network ("XY TestNet"
XY will complete the development of Oracle Testnet XY and begin launching location-focused blockchain protocols to its Sentinel device.
2018
Q3 & Q4
XY will launch XY Oracle Main Network ("XY MainNet"
XY will launch the full launch of the Oracle XY Network to XY the Sentinel beacon and start tests with new Sentinel partners (especially IoT companies and mobile app developers).
XY to Complete API for Intelligent Contract Developer to Interact with Oracle XY Network
The release of the XYO Network API that allows smart contract developers to write contracts to interact with XY networks. Library to be developed: Ethical Solidarity Library, Viper Ethereum Library and JavaScript library for websites interact with XYO Network (similar to Web3.js integration with MetaMask).
XY to Release XY Sticker-Based Tracker, Which Can Be Added to the eCommerce Package
Launch the "XY-Stick" product that allows eCommerce retailers to track each of their products in realtime.
2019
XY to Grow Global Network Sentinel Multiple Location Equipment
Grow XY Sentinel coverage (location data provider and verifier) as well as other components of the Oracle XY Network (Bridge, Archiver, Burial).
XY to Launch SatoshiXY and VitalikXY LEO Satellite Sentinels
Shares will be sold on XYO's Low Earth Orbit satellite; The bet represents ownership in the XYO Token award section.
XY to Businesses, Organizations and Retail Companies that Have Greater-Use Cases for Location Verification
Formalize business partnerships with larger companies and entities that can take advantage of decentralized and unreliable location instincts (eg logistics systems, supply chain companies, auditoras hours, eCommerce businesses and countless other niches).
2020+
XY to Expand the Global Reach of the entire Oracle XY Network
For More Information Follow Us Here:
Website: https://xyo.network/index.html
Whitepaper: https://xyo.network/whitepaper/
Twitter: https://twitter.com/XYOracleNetwork
Telegram: https://t.me/xyonetwork
Facebook: https://www.facebook.com/xyonetwork
Author : Ghaniindependen
My Profile Btt :
https://bitcointalk.org/index.php?action=profile%3Bu%3D1318272
My ETH wallet :
0x1a505ccE73B679996E68Bf954334c098f21F1dDB
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