What is XYO Network? XYO is an oracle network that connects Blockchain and the real world through data collection method. cryptocoin.com In this article, we have answered a series of questions that are wondered by investors such as what XYO Network is, what it offers, what does XYO coin do, how to buy it. Now let’s examine this Blockchain project, which is among the oracle networks, together.
What is XYO Network?
XYO Network, short for XY Oracle Network, is a human-powered location network built on the Ethereum Blockchain. In summary, this network provides layered location verification on many devices and protocols. In doing so, it works by supporting non-trusted data collection. The project uses a cryptocurrency called XYO coin for its operation. This is the native cryptocurrency of the ecosystem. The ecosystem allows users to “call” for specific queries revolving around location requests. It basically serves as one of the oracle networks on the market.
XYO Network is a Blockchain platform that collects and validates geographic data or information with geographic components. The purpose of this platform is to create a trust-based, decentralized and location-oriented oracle system that is resistant to attacks and produces the highest possible certainty when queried for existing data. It does this through a chain of zero-knowledge proofs throughout the components of the system. It has a number of abstraction features that greatly reduce the risk of location spoofing.
What does XYO Network offer?
Founded by XY company in 2018, XYO Network claims to be the first project to connect the real world to Blockchain. Accordingly, the network presents the location data it collects on a platform. This data has many use cases for people and businesses in the real world. The Oracle network can report with extremely high accuracy that a packet has arrived at the client’s doorstep. XY doesn’t just rely on its own devices for location data. Besides, it integrates with other internet-connected devices that can detect location data.
What is XYO coin? What does it do?
XYO coin is the utility token of the aforementioned oracle network. This token was created on Ethereum using the ERC-20 smart contract. However, it has many use cases within the XYO Network. In other words, it is possible for users to perform various transactions on the network with this token. For example, a developer can create location-based applications on the network. However, companies can use this cryptocurrency as a payment method for their services in the ecosystem.
How to buy XYO coin?
XYO coin is listed on cryptocurrency exchanges such as Bitrue, KuCoin, MEXC, BingX. If you are interested in crypto money, you must be a member of one of these exchanges. After that, you can place a buy order by depositing an asset in your wallet according to the token’s traded parities.
