XYO Network-The third pillar of development of technology blockchain
In 2019, 10 years will pass since the start of the technology of blockchain, which changed the face of the modern world. A continuous chain consisting of blocks of transactions that can not be undone and recalled became invulnerable to hackers through the Proof of Work algorithm of proof of the work done.
Satoshi Nakamoto used exponential growth in computational complexity to limit the emission of coins, which led to the reduction of single miners, giving the extraction of digital currency in the hands of large pools.
The battle for power generated special integrated circuits of ASIC chips, threatening the centralization of mining, consuming electricity, comparable to the volumes of individual developed countries.
The solution to the problem was the use of the Proof of Stake algorithm - proof of the share of ownership, in which the probability of assembling a chain block is determined by the number of coins in the account of the miner. This approach solves the problem of spending resources, but leaves the danger of concentration of resources in the hands of large investors. Sole extraction in this case becomes inaccessible or unprofitable.
Altcoins and the development teams behind them are trying to level out the influence of the share of coins on separate investor accounts. The solution is presented in the form of hybrid mining - combining algorithms or imposing various conditions on the probability of generating a block. For example, take into account the coefficient of trading activity or freeze funds participating in the PoS.
The XYO Network (The XY Oracle Network) project offers an unusual blockchain system that depends on the "energy of motion", so it can not be concentrated and centralized.
The basis of the blockchain XYO Network laid unique, innovative algorithm Proof of Origin (you can also find mentioning its name as Proof of Location), which is not found in other cryptocurrencies.
The peculiarity and reliability of such an algorithm lies in the fact that the location of an object, an object and a person is determined by using four coordinates. It turns out that three of them are mathematical XYZ and the fourth is the time variable-T. The last variable reliably checks that the object being determined is not in two places at the same time. Thus, the block of blockchain is protected from "double counting". XYZ coordinate verification provides a branched network of devices, which allows you to easily confirm the location of the object with the help of other users.
Satoshi Nakamoto after the launch of the block of genesis bitcoin created the first pillar of digital technology. He gave the world a decentralized network of computers that solved the problem of trust of financial transfers between strangers.
Vitalik Buterin opened the blockchain for the community, allowing with the help of smart contracts to create and solve any conditions described with the help of programming languages. This became the second pillar.
XYO Network transfers blockchain to the terrain, drawing anew a world map using the "unconditional trust" technology. It is verified by millions of users. Developers XYO-token give unlimited freedom of action in the application of technology for humanitarian operations, a means of reliable rescue, where accurate coordinates and quick help save priceless human lives.
Someone will be able to apply the verification of the location in logistics, to someone it will help in the search for missing things or as a means of reliable protection of vehicles. Social networks can embed the functionality of XYO Network for acquaintance, and mapping services dynamically make changes.
The evolution of XYO Network is boundless and completely dependent on us. I believe that cryptographic verification on the terrain is the third pillar. And if you read White Paper and more deeply study this project, then all doubts in this will disappear.
This algorithm is not associated with the thoughtless use of computing power or gigawatts of electricity, causing environmental harm. From the miners you need to move, and, as you know, movement is life.
From idea to model
The company spent a year developing the theory and two years on the MVP product, creating a network based on:
-readings of Bluetooth and GPS-sensors;
-QR-code reading processing software;
-interaction with satellite navigation.
In prototype mode XYO Network operates more than a million devices, and this number is constantly growing. Crowdsale of XYO tokens is aimed at the development of the ready-made blockchain by increasing the number of users and adding nodes, as well as the production of mining equipment, which is a trusted location proof device.
Distribution of tokens:
XYO Network is a project that offers an original and global idea for the development of blockchain technology. Five years of experience and real products of XY company speaks about a strong and successful team. This causes great confidence in this project. It remains only to wish them success to realize all their plans.
Whitepaper and Supporting Docs: https://xyo.network/whitepaper/
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3040825.0
Bounty group: https://bitcointalk.org/index.php?topic=3053801.0
Telegram group: https://t.me/xyonetwork
My bitcointalk account: https://bitcointalk.org/index.php?action=profile;u=149923