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The XYO Network, also known as the XY Oracle Network, provides a blockchain-based, user-powered location network. The XYO Network, to put it briefly, is a trustless cryptographic location network that allows for layered location verification across numerous devices and protocols. The network runs on a digital currency called XYO.
A business called XY, which has been active since 2012 and develops location technology solutions for autonomous drones, self-driving cars, smart cities, and space exploration, has unveiled the XYO Network. XY Findables, a network of more than 1 million people connected by Bluetooth and GPS devices, is the first product that XY has released. These gadgets are essentially little fobs that may be fastened to things that are commonly lost, including keys, bags, dog collars, etc.
The goal of the cryptocurrency project XYO is to inform users of all backgrounds about the benefits of a location-based data network based on shared incentives. It has an XYO Network coin, an indigenous ERC-20 token.
The XYO token, an innovative new cryptocurrency that rewards the ecosystem, lies at the heart of the system. The XY Oracle Network uses the ERC20 token XYO, which is built on the Ethereum network. With the use of cryptographic technology, XYO encourages data sovereignty and compensates network members for their data contributions. At the end of the day, XYO wants to be the first network that enables industries to use trustworthy data from a decentralised and encrypted source.
A unique feature of XYO is that it can be mined on a smartphone using the COIN app, giving consumers the opportunity to earn free cryptocurrency. With the COIN App, you can geomine throughout the course of your day and receive COIN tokens in return for giving the XYO Network location-based data. Once a minimum of 10,000 coins has been met, these digital assets can then be converted into XYO. KuCoin is the main cryptocurrency exchange where XYO is traded.
Over 500,000 users of the COIN mobile app, which was released in early 2019, are currently using it to earn digital assets by validating geographical location data while they travel, commute, exercise, or otherwise move about in the real world, engage with other users, and take part in in-app competitions.
In contrast to conventional mining, geomining involves building bound witness interactions for the network in order to provide location data rather than using your computer’s processing capacity. You can travel in the real world while geomining with the COIN app to gather digital crypto-assets. Users of the COIN app are compensated for providing the XYO Network with location-based data. Once a minimal number is reached, these digital currency can then be swapped for XYO tokens, Bitcoin, or Ethereum. It is possible to withdraw and store cryptocurrency in external wallets.
Given the low degree of liquidity, the price of XYO had been progressively declining since it reached a high in December 2018 until flattening out at about the $0.0002 USD level. However, since mid-April 2020, there has been a big increase in XYO trading volume, and we have witnessed a significant breakout from this level. Recently, the price of XYO went on a spectacular run that included a parabolic surge. XYO had increased by 380% year to date as of mid-June 2020. This has shown to be a great return on investment for individuals who have been geomining free XYO.
If this project continues to develop at its current pace and really takes off in future, then a lot of crypto followers are going to wish they’d grabbed the chance to mine the tokens earlier. XYO has a current supply of approximately 13.9 billion tokens with 12.8 billion in circulation. Another interesting development in early 2020 has seen the XY company start to buy XYO tokens on the open market as supply for the COIN application and to hold, believing that the XYO Token is very undervalued. XY are dedicating a portion of revenue on an ongoing basis to purchase this supply and as COIN grows, they expect that purchasing process to accelerate.
You can increase your mining in the COIN app in a few different ways. Take advantage of XYO’s offer to receive a free XYO Sentinel device as the first step. Your geomining will be 12x more effective if you connect a Sentinel to the COIN app. This has a significant impact!
Geomining XYO is unquestionably worthwhile with a Sentinel, and especially with a paid subscription plan, on a number of levels, including earning free cryptocurrency while you travel, learning about cryptocurrency, decentralised networks, and the blockchain, and having some fun while you mine your XYO. Currently, COIN is also giving away SentinelX devices for free; you simply have to pay for delivery.
The paid monthly subscriptions offered by COIN provide an alternative to a Sentinel. To be quite honest, I used to believe that these plans appeared to be a bit overpriced, but after trying two different plans, my perspective has changed. Be aware that Apple’s app store charges in local currency at the same rate for those of us outside the US (for example, in the UK). COIN Plus costs $24.95 per month and COIN Pro costs $34.95 per month.
The most efficient approach to guarantee that geomining will provide a quick return on investment is to make sure you drive every day and mine around-the-clock. It is undoubtedly preferable to acquire XYO on an exchange like KuCoin for the same level of investment if you have a plan like COIN Pro and are willing to drive a little.
I used to operate the $7.99/month COIN Lite plan, which is available solely via invitation. This deal includes the SentinelX detection bonus, which multiplies your earnings by 12x wherever you travel, whether you have a SentinelX or not. It also includes the Pro subscription’s 3x geomining speed and 3x geomining recharge rate. The COIN Lite option appears to be a good value plan for all aspiring geo-hackers out there because after a few months without a plan, I have to admit it turbo enhanced my geomining. I was mining about 780 coins every day, and I reached break-even at about day 25 of the month, despite the fact that Apple charged me in pounds sterling rather than dollars. Light is
I recently made the switch from Lite to Pro, and I’m shocked at how long I waited. A game changer, that is! The monthly cost of $34.95 for COIN Pro is really reasonable. I’m currently receiving weekly maximum bonus drops, 36x geomining rewards, 3x backdrop rewards, and for the first time, Big Geomines. I am currently geomining about 2,500 coins per day, even with minimal driving in lockdown, but I’ve discovered that the Pro returns are noticeably better while driving and utilising my sentinel for an additional 10% boost. It produces a respectable return on investment if you utilise referral bonuses as well.
Members of the XY community participate actively in the XYO Network through geomining. The option to upgrade to a geomining kit, which includes XYO Sentinels and a Bridge component, is available for hard core geohackers. You can gather and produce location data that is connected to the XYO Network using XYO Sentinels. The XYO Network’s archivists can retain those gathered and confirmed locations for future searches thanks to the Bridge component. XYO tokens are earned when such data, along with the validated location data, is used in a network query.
Stick with the COIN app and Sentinels if you’re more interested in geomining and earning XYO Tokens on your smartphone. However, if you genuinely want to create a robust network of data-gathering devices for the XYO Network, you could choose to create or buy a geomining kit that consists of numerous Sentinels and a Bridge.
Since I started geomining a couple of months ago, I’ve kept track of my mining rates, however it should be noted that this time frame also fell within the Covid19 lockout, which is bad for geomining! You’ll mine a lot more if you drive a respectable amount each day. I was mining roughly 80 coins per day on a simple plan with no Sentinel. Undoubtedly not a good return. With a Sentinel, this increased to over 300 coins per day, or well over $1 per week at today’s exchange rates. My rate increased when I switched to Lite, reaching about 780 coins per day, but the biggest change occurred when I upgraded to COIN Pro, producing almost 2,500 coins daily.
After deducting the price of a plan like COIN Lite or COIN Pro, geomining XYO is only moderately profitable on an absolute return basis (excluding capital gain) and at the current price of XYO. The rewards would be significantly higher if you worked as a long-distance trucker or an Uber driver, though. But that’s not why I mine free cryptocurrency. I consider this to be a long shot in the long run and would rather to focus on the 2,500+ XYO coins that are mined every day. My XYO bag was up 462% in mid-June this year, which is not to be sneeze at! Imagine if XYO’s price surges over present levels and begins to move in the direction of a dollar in the future! Only hope remains. As
The Sentinels (The Data Gatherers), Bridges (The Data Relayers), Archivists (The Data Storers), and Diviners (The Data Storers) are the four main pillars of the XYO Network (The Answer Aggregators).
Sentinels use radios, sensors, and other devices to obtain location data. These serve as the site witnesses.
Data from Sentinels is transmitted to Archivists using bridges. These serve as transcribers of location data.
For the purpose of analysis by Diviners, archivists store the data.
As oracles, diviners evaluate all of the location heuristics to respond to questions and rate accuracy. Following that, diviners input their responses into a smart contract.
The XYO Network introduces a unique Proof of Origin consensus mechanism along with Transient Key Chaining to guarantee that ledgers flowing into the network are valid while making it hard to forge ledgers.
XYO includes devices for the anonymous gathering and verification of geographical data. It is the core component of this network protocol and essential to comprehending its hidden benefit.
The 4 components of XYO Network are as follows:
a Sentinel. It is a device that sends out signals that include its location as well as important details like the time and temperature. Two Sentinels are nearby, and they both display this information.
a bridge This device is required to look for interactions between bound witnesses. The Bridge tracks it down and confirms its disposition for contact.
A. The Archivist. For the purpose of storing bound witness interactions, this node was created. If a question is answered successfully, it can convey this information to a Diviner. Depending on the requirements for the stored data, archivists may be decentralised or distributed.
The Divinator For responding to inquiries using bound witness data, it is necessary. The Diviner and a Bridge are immediately questioned by the Diviner and a Bridge for this purpose. Two flagship interfaces have already been released by network developers. Users can query data seas using XYO Explore, and they can reach consensus with XYO Ethereum Diviner.
Features of the XYO Network App
Users must sign in to access all platform features.
Users should download the multipurpose software to their Android and iOS devices in order to utilise all platform capabilities. The software is currently under development, but once it is published, it will transform into a Bridge that connects to Sentinels and Archivists (through mobile data or Wi-Fi) in order to fuel the XYO Network by accumulating heuristic ledgers, which give location verification, from adjacent Sentinels.
There are a tonne of application cases that cut across many industries beyond the XYO Network’s technical foundation.
The whitepaper gives the example of eCommerce merchants using XYO to provide their consumers with a high-end “payment upon delivery” service. The seller would create a smart contract (using Ethereum’s platform), XYO would track the package’s progress up until fulfilment, and the vendor would only be paid once it had arrived.
Due to a lack of clarity from American regulators, XYO is only offered for sale abroad.
However, SEC Reg A+ Equity investments are available to American investors in XYO. As a result, American investors can essentially participate in the parent company of XY and potentially profit from both XY and the XYO Network.
For U.S. investors, the split is as follows.
US citizen XY is Delaware C-Corporation is subject to rules and regulations that are under American control. Commission for Securities and Exchange.
XY has 850,000,000 XYO Tokens, or roughly 3.5% of the total token supply. In addition, XY manages the XYO Cryptoeconomic Reserve fund, which distributes funds on a one-to-one basis for each XYO Token sold in the Public Sale.
To date, XY has brought in about $10 million in income.
Here are the documents and SEC filings.
A tiered pricing structure with a starting price of 1 ETH: 100,000 XYO and a maximum price of 1 ETH: 33,333 XYO is available for the public token sale.
Platform for smart contracts: Ethereum
ERC20 contract type
Name of the Token: XYO Network Utility Token
Finite and capped at the total amount raised following the Token Main Sale.
XYO Token Cap Projected: $48 Million
Unsold and unused tokens were destroyed following the token sale event.
Following the conclusion of the Main Sale, no more XYO tokens will be created.
Following the App’s download, users will have access to:
Change contexts by swiping. You can view information about your location and the device you’re using. It will also display any nearby connected devices.
Work with XYO technology. The app provides you with a list of neighbouring XYO-capable devices. You can bookmark them without registering if you need to. Any XYO device, including BridgeX and SentinelX, may be added to the list.
You can decide how your gadget will communicate with XYO. In only a few clicks, you can change between the Sentinel and Bridge modes. Your devices are able to gather witnesses and dump them onto a bridge, gather witnesses and bridge them for sentinels, or both.
Check your connections’ status. Check to see if your default Archivist and Diviner are available, then click to modify the connection.
This project has undergone multiple stages since its beginning, adding new features at each one. A XYO coin is a great long-term investment since, as the roadmap predicts, more amazing improvements should take place in the future.
This viewpoint is shared by experts, who expect that the price of the XYO coin will increase. By the end of 2022, the price of an XYO cryptocurrency will be $0.073, predicts WalletInvestor. Although the crew at CryptoNewsZ isn’t very optimistic, they still think the maximum price of XYO cryptocurrency will be approximately $.1045 by that time.
Additionally optimistic are longer-term projections. According to WalletInvestor’s XYO coin price estimate for 2025, this token will cost $0.219 by the end of the year. According to Gov.capital analysts, the price of an XYO will be marginally lower but will still be higher than $0.2 by the same time.
The XYO crypto network is after all a project with great potential. Over 4 million users are currently active, and that figure is steadily rising. Additionally, the Network is backed by industry titans like Chainlink and Travala.com. Furthermore, XYO coin is a successful investment due to the company’s ambitious objectives, which include an XYO World 4.0 and a Data Marketplace.
StealthEX can help you find XYO stores. This platform has all the tools necessary for quick cryptocurrency exchanges. Simply choose a token from more than 400 options, enter some basic information, and finish the transaction.
Simply visit StealthEX exchange and adhere to these simple instructions:
Select the currency pair and the amount to be exchanged. As an illustration, ETH to XYO currency.
Click “Start exchange” to begin.
Give the address of the person to whom the coins will be sent.
Transfer your bitcoin so it can be traded.
Get your coins now!
The XYO Network’s offering is consistent with one of the most well-liked stories of the blockchain and cryptocurrency revolution: the removal and replacement of a third-party intermediary with a decentralised and technologically more sophisticated solution to empower and incentivize the end users. With a decentralised blockchain-based system, XYO seeks to replace GPS as it now exists.