Four main components of XYO Network
The XYO Network has four primary parts like Bridges, Sentinels, Diviners, and Archivists. It is amazing because These four parts modify geo-focused, consensus-building and trustless verification of location info. this means that when you write a smart contract that specifies for degree object to look at a specific XY-coordinate if it appears there, you will grasp that it completely was at that location with absolute certainty. this usually all steers further from the chance of spoofing the location signal device(s) verified by thousands of Sentinels inside the sex chromosome Oracle Network with the longest Proof of Origin chain (thus yielding larger confidence inside the heuristics).
1. Bridges - Bridges area unit heuristic transcribers. They firmly relay heuristic ledgers from Sentinels to Diviners. the foremost necessary facet of a Bridge is that an illusionist is positive that the heuristic ledgers that area unit received from a Bridge have not been altered in any approach. The second most vital facet of a Bridge is that they add an extra Proof of Origin.
2. Sentinels - sentinels elements ar heuristic witnesses. They observe heuristics and vouch for the knowledge and accuracy of the heuristic by manufacturing temporal ledgers. the foremost vital facet of a lookout is that it produces ledgers that Diviners may be sure came from a similar supply by adding Proof of Origin to them.
3. Diviners - A seer answers a given question by analyzing historical information that has been kept by the XYO Network. To accomplish this, heuristics keep within the XYO Network should have a high level of Proof of Origin to live the validity and accuracy of the heuristic by judgment the witness supported its Proof of Origin. on condition that the XYO Network could be a trustless system, Diviners should be incentivized to supply honest analysis of heuristics. not like Sentinels and Bridges, Diviners use Proof of labor to feature answers to the blockchain.
4. Archivists - Archivist elements store heuristics in a very suburbanized kind with the goal of getting all historical ledgers keep, however while not that demand. notwithstanding some information is lost or becomes briefly unobtainable, the system continues to perform, however simply with reduced accuracy. Archivists conjointly index ledgers so they will come back a string of ledger information if required. Archivists store data solely and acquire paid just for retrieval of the info. Storage is often free.
KEY features of XYO Network
The XYO Network leverages crypto economics to form Associate in a Nursing efficient market by requiring market participants to use the XYO Network Token to procure use. this permits consumers and sellers during a dealing to pay just for the computation and location-verification execution, not overhead.
The XYO Network is totally open and unengaged to use, expand, and improve upon. there's no entry fee to hitch or use the network. It’s owned by the community and is in public access to all or any, regardless of what location or government jurisdiction a user resides.
As it stands nowadays, shoppers don't have any different selection however to interact victimization brokerages and middle-men for several transactions. take into account second user-car dealings involving between a purchaser and vendor of a used vehicle UN agency don't already apprehend each other. the client and vendor square measure forced to use a used-car brokerage or service and pay immoderate fees as a result of they need no different choice. another price is even higher. Thus, the middle-man brokerage continues to create a competitive trench that gets wider and additional defendable every passing year. This all changes with the introduction of Ethereum sensible Contracts and also the XYO Network.
The XYO Network uses crypto economic science to form AN autonomous system that advantages the patrons and sellers concerned in transactions UN agency accept verification of location (i.e. package delivery). the foundations and conditions of every group action are ruled by clear sensible contracts, that are programmed into the XYO Network. this allows patrons ANd sellers to trade transactions involving location verification whereas replacement centralized middle-men with an open, autonomous platform.
Important links to XYO Network
Website - https://xyo.network/
Bitcointalk ANN - https://bitcointalk.org/index.php?topic=3040825.0
Whitepaper - https://docs.xyo.network/XYO-White-Paper.pdf
Telegram - https://t.me/xyonetwork
Twitter- https://twitter.com/XYOracleNetwork