What is the XYO Network?
The XYO Network introduces a source of location data that does not originate from a centralized system, but instead from a vastly distributed network of interconnected devices that can deliver that location-based smart contracts require for execution.
What are smart contracts?
Smart contracts are computer programs that are designed to transfer digital currencies or assets between parties under certain, predefined conditions verified by oracles.
Why is this important?
Smart contracts are tools that are revolutionizing the way humans conduct business. They remove the necessity for the trusted third-parties and middlemen that the system currently rely on in order to execute the terms of an agreement. The only way this evolution of human interactivity can be successful is if the data that is accessible to these contracts is accurate and verifiable. Centralized authorities are susceptible to interference, attacks, and failure and as a result do not serve as technologically viable source of data for smart contracts. Therefore, there is a need for a consensus-based network of interconnected devices that records and verifies real world events in order to make the resulting data available in a distributed, trustless, and secure manner. This is precisely the design of the XYO Network.
MAIN FEATURES OF THE XYO NETWORK
• Decentralized
Confirmation doesn’t contain any big and payment based companies or organizations. This network is totally a transparent system. It is an open source which doesn’t has any entry barriers.
• Trustless
As users always concern about the trustworthiness of the network, The XYO Networks blockchain technology removes the need for trust by making all transactions transparent, decentralized, and protected.
• Identityless
To protect the privacy of all the users, all the location data is stored anonymously. This is done by a cryptographic method which is called Proof of Origin.
How to participate?
The XYO Token (XYO) is the utility token that smart contract developers can use to access the XYO Network. Anyone can participate in the XYO Token Generation Event as its different stages on the website.
XYO Token Specifications
The public token sale has a tiered pricing structure that starts at 1 ETH: 100,000 XYO and maxes out at 1 ETH: 33,333 XYO.
• Smart contract platform: Ethereum
• Contract Type: ERC20
• Token: XYO
• Token Name: XYO Network Utility Token
• Token Address: 0x55296f69f40ea6d20e478533c15a6b08b654e758
• Total issuance: Finite and capped at the amount reached after the Token Main Sale
• Amount issued during the main sale: Unlimited
• Unsold and Unallocated tokens: Burned after the token sale event. No further XYO tokens will
be produced after the Main Sale ends.
XYO Pre-Sale Timeline and Details
● Start: January 5th, 2018
● End: February 28th, 2018
● Token Price: 1 ETH = 200,000 XYO
● Minimum Purchase Amount: 15 ETH
● Maximum Purchase Amount: Unlimited
XYO Main Sale Timeline and Details
● Start: March 20th, 2018
● End: May 20th, 2018
● Token Price: 1 ETH = 100,000 XYO initially and 1 ETH = 33,333 XYO at max.
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