Table of Contents Hide
- What is the XYO Network app?
- How does the XYO system work?
- Why the XYO Network?
- What is Decentralization?
- XYO Network app as Bridge
- Components of the XYO Network
- What are XY sentinels?
- How to set up the XYO app
- XYO Network app review | Scam or legit?
The desire for some form of control over our lives is very instinct. This desire for certainty and control is deep-seated. We all need to feel somewhat in charge of something, and in this case, it is our finances. That is what makes the XYO network app good. This review
Studies have shown that the desire for purpose serves to help us believe we can shape outcomes and events to our liking. That is, the more control we feel we have, the more emboldened we feel about achieving the outcomes we desire, and this sense of competence boosts well-being.
While the need to seek control is good and can help us achieve more, it can get too far. At a point, it becomes something else and can make you and many others miserable. Later on, we will discuss this briefly.
Our desire for control is what has put you on the path to discovery that helps you to understand how the XYO Network app works and whether it is a legitimate enterprise. This article exposes things you need to know. Read up!
The XYO app is a small part of a system that helps to ensure credibility. The app is a ground recording station that is available to anyone on the network. There is a lot data moving around on a daily and apps and sentinels and other things just make it easy to acquire.
Blockchains were built especially for this reason. To stay away from the grid, remain accountable, and also be transparent to all those who need the services. To come up with this required some high-level creativity. It perfectly exemplifies a quote by Mary Lou Cook that reads “Creativity is inventing, experimenting, growing, taking risks, breaking rules, making mistakes, and having fun.”
What is the XYO Network app?
The XYO Network App is a utility that allows the user’s smartphone or tablet computer to become a Bridge for the user’s Sentinel devices, produce Bound Witness data, provide heuristic data for XYO Network users, display Origin Chain information, and several other XYO functions needed to use XYO.
To understand how the XYO app works and why you get paid or what your position is on the network, you need to understand what a blockchain is. Before we go into that, we’ll be looking briefly into how the XYO system works.
How does the XYO system work?
A network of individuals gathering geospatial data (records in a dataset that have locational information tied to them such as geographic data in the form of coordinates, address, city, or ZIP code) builds the XYO Network. These individuals use the COIN app (a mining app under the XYO) to geomine and receive XYO tokens in return for their data.
After mining, COIN users upload the ledger from the Sentinel to a Bridge using the XYO network app. The Bridge (likely stored on a phone) sends its data to an Archivist. These nodes hold data from all users. When someone asks the XYO network a question, a Diviner will ask an Archivist or Bridge and return the result. Basically, these steps ensure the Diviner has the correct information when someone asks for data.
A unique feature of the XYO network is the use of Bound Witnesses. Essentially, a Bound Witness confirms data from another source. Two devices co-sign a piece of data, in this case, geospatial data. Therefore, a Bound Witness is a bi-directional location heuristic. So, when someone makes an inquiry on the XYO network, they can be sure the geospatial data is correct.
So now you may be wondering why people got through all the stress. The answer is inefficiency.
Why the XYO Network?
Remember when we talked about control? Therefore, in the beginning, it was the government’s responsibility to take care of certain things. The same things which give them the control they have now – those things are the allocative function, the stabilization function, and the distributive function.
In a case where the government couldn’t perform any of those functions well and continued to get more control over the people, something just had to give. That thing is the growth of cryptocurrencies, blockchains, and decentralized digital finance.
The efficiency of the system is high and better than is obtainable elsewhere. The XYO app tries to ensure that at least two people can corroborate data when it is uploaded and requested for. This inability to pin it to anyone – its lack of central authority is the reason why governments fear it.
In this decentralized system, apart from the mining of XYO tokens, your work is basically corroboration of data.
What is Decentralization?
This is the transfer of authority and responsibility for public functions from the central government to subordinate or quasi-independent government organizations and/or the private sector. Decentralization is good because it makes the system difficult to tamper with. That is basically what XYO does.
The XYO network’s ecosystem of crypto-location technologies combined with its so-called revolutionary protocols provides any location-reliant market with the ability to employ transactions dependent on time or location of delivery.
While bitcoin and other popular cryptocurrencies are set to take over the world or are just bits of code that have no value depending on who you believe, their current efforts in blockchain technology are confined to the online world.
XYO network has developed location-based technologies that connect the digital world to the physical world. To achieve this, XYO has created a location-based consumer product business with the purpose of putting Bluetooth and GPS tracking beacons out into the world.
XYO’s ability to combine its location innovations with blockchain developments is one of the most exciting ideas in blockchain technology.
XYO Network app as Bridge
The XYO network developed location-based technologies that connect the digital world to the physical world. To achieve this, XYO created a location-based consumer product business with the purpose of putting Bluetooth and GPS tracking beacons out into the world.
XYO has conducted deep research surrounding location-focused blockchain technology, allowing it to expand to the offline world. Hence the XYO network app. The system’s open-ended architecture for DApp development supports all blockchain platforms that possess Smart Contracts execution.
XYO network has a technological infrastructure that enables Smart Contracts to access the actual world to determine an object’s specific XY-coordinate and lets users employ applications that execute transactions in a Smart Contract.
Current use cases of the XYO network span a range of industries including e-commerce, medical care, and hospitals, rental car agencies, commercial airline luggage logistics, insurance agencies, national security agencies, drones, and package delivery systems.
The company has more than one million global devices that provide location data to the network. The company’s sponsorships and advisories cover ‘a large breadth of professional fields and include innovative blockchain developers’.
Components of the XYO Network
These components work together to create a very exciting and decentralized oracle network. The components of the network are four in number;
#1 – Sentinels
Sentinels gather location data to be given to bridges. You can think of a sentinel as a lookout, who checks the area for other sentinels and records their exchange. The most important aspect of a sentinel is that it produces heuristic ledgers that bridges, archivists, and diviners can be certain came from the same source.
A larger section for this comes up as you read.
#2 – Bridges
Bridges take location data from sentinels and pass them on to archivists. You can think of a bridge as a connection that “bridges” your local sentinel ledgers to the larger XYO Network.
Without that bridge, it’s like the sentinel ledger was never recorded in the first place! The most important aspect of a bridge is that an archivist can be sure that the heuristic ledgers that are received from a bridge have not been altered in any way. The XYO network app serves as a bridge.
#3 – Archivists
Archivists take location data from bridges and store them for diviners. You can think of an archivist as a bank that “archives” all the ledgers collected by sentinels. Archivists also index ledgers so that they can return a string of ledger data if needed. They store raw data only and get paid only for retrieval of the data.
#4 – Diviners
Diviners take queries and fetch answers from archivists. Given that the XYO Network is a trustless system, diviners must be incentivized to provide an honest analysis of heuristics. Unlike sentinels and bridges, diviners use proof of work to add answers to the blockchain.
The XYO network was founded in 2010 and developed location protocols necessary to build this decentralized location network. The company’s technology means Smart Contracts can access the real world by using its ecosystem to determine whether and an object is at a specific XY coordinate at a specific time.
The company goes on to say that this open-ended infrastructure is now in place to build ‘the world’s first decentralized location-verification system for all blockchain platforms that support Smart Contracts execution’.
What are XY sentinels?
Sentinels are location witnesses. They can observe data heuristics, like location, temperature, elevation, wind speed, etc. The company, in one of its Medium write-ups, said “XY sentinels simply report a location on a map.
However, future developers and companies can add our SDK (Software Development Kit) to their devices, make them XYO-enabled, and potentially add more data to a Sentinel’s individual ledger.”
Sentinels can vouch for the certainty and accuracy of the heuristic by producing temporal ledgers. When an area has a lot of XY Sentinels, they can communicate with each other, and compare ledger.
If 90% of Sentinels report an item in one home, and 10% report it in another home, it’s much more likely that the 90% is correct.
How to set up the XYO app
It is a very straightforward process. You connect the sentinel to your bridge which is your phone, and start to wait for bound witness connections on the phone. Since your phone functions as both, then it should work easily.
You can either decide to start with the mining app which is called the Coin app or just stick to receiving passive income from the XYO app.
XYO Network app review | Scam or legit?
The network app works very fine and continues to deliver on the things it promised to deliver. Lots of people who understand what is to be gained continue to join the platform.
There is nothing illegitimate about the network app. The app, as well as its network, continues to improve. Power and trust are shared between the XYO network’s participants rather than concentrated in a single, fee-taking individual or entity.
The XYO networks blockchain technology eliminates the need for trust by making all transactions transparent, decentralized, and secure.
Blockchain is the future. Smart contracts are the future. XYO network just makes it easy for people to partake in something revolutionary. Something that combines accountability with the location.