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Friday, 27 April 2018

Meet the XYO Network for Future Blockchain Based Platform


The need for location detection is increasingly needed by today's society. Companies and factories are the parts that need a solution to the problem of location detection. They want an effective way of knowing where the goods are being sent, whether the goods have been received by the right person, and so on. Then came the technology based blockchain platform known as XYO.

Development and Creation of XYO

In 2013, after the world was enlivened by blockchain, a new platform was released. The platform named Ethereum is stealing because of the innovations in it that allow problems to be solved. Then this Ethereum platorm is also used as a foundation in the manufacture of various applications and new platforms. In fact this is not something that is surprising because Ethereum proved to be able to have a good effect.

In Ethereum there is a new concept that is innovated smart contract. This concept allows the creation of a safe and cheap payment system. Thanks to the existence of this Ethereum world cryptoassets has increased enormously. This process is used in the manufacture of cryptographic platform to solve certain problems. So many developers needed to innovate and develop protocols.

One developed is a protocol focused in location intersection and blockchain. This protocol has a very useful 'Proof of Location' label and serves its users until it is named XYO network. Previously, XY Findables, the company that developed XYO Network, has created a network of location that can be accessed easily by developers.

The importance of Cypto-location makes this project worth keeping. However, all this time all protocols have focused on Ethereum when there are other blockchain platforms that can provide more effective solutions in their real-life use. In the future Ethereum will be a critical platform. XYO Network will address this so it can be an option for integrating tahe tecknology of cypto location.


Cryptographic Location as The Future

The importance of location data is felt by every company and party. The integration of blockchain in the proof of location has actually been around since 2016. However, there are still some problems and shortcomings to be solved. XYO Network is here to complement the existing shortcomings. Obviously by applying blockchain technology to strengthen the foundation of development so that it creates the protocol which is where and trusted.

The technology created in the XY Oracle Network allows for smart contracts and decentralized systems. So communication and data can not be stolen and can reduce the level of corruption. In addition, accuracy of location will have an impact on less trust. With this technology, users can get a better service to know the location that has been integrated with the GPS system.

Like other paltforms and including bitcoin, this platform also regulates finance and economy in it. This is done by building a transparent and reliable transaction system. Because the location data is very sensitive then the company think about how to keep it private though the system remains anonymous.

XYO network is designed by allowing volunteers to join. The trick is to require them to opt-in into the network. However, if one party does not want to participate they can elect only. XYO network will govern your privacy in accordance with the terms and conditions applicable. All these innovations are supported by the proof of zero knowledge cryptographic method. This modern method allows for authentication without having to exchange any privacy data so it is very safe and reduces the possibility of data theft.

The Application of XY Oracle Network in Real Life

The use of XYO Network can already be found in a variety of cases, especially companies and industries. One of the most common examples is ecommerce. An ecommerce company must use XYO Network equipped with smart contract in order to be able to provide safe and reliable transaction facilities. XYO will help the ecommerce to track the location of goods delivered to the buyer with just one step of fulfillment.

In addition to Ecommerce, the Hotel also needs this platform to provide good and reliable reviews. Sometimes the hotel has to spend a lot of money to create a positive review. If someone from another country came to a hotel and stayed there for a week then he wrote a review about that hotel, then this review would be useful and strongly considered to improve the reputation of the hotel.

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