The Geospatial Oracle Network
XYO Network is a service that offers resources for developers who are interested in building location-based network that is based on shared incentives. As we move forward in time, technology has enabled us to get connected with each other. However, some of these technologies are location-dependant, which presents risks involving centralisation and integrity of the devices being used. To circumvent this problem, XYO Network (XY Oracle Network) introduced a trust-less. cryptographic location network that can provide reliable location information. There are four main components in XYO: Sentinels (Data Gatherers), Bridges (Data Relayers), Archivists (Data Storers) and Diviners (Answer Aggregators). These components work with each other in a mechanism known as Proof of Origin.
XYO Token is the native token within the XYO network. The main utility for this token is as a payment token for using XYO network. It is also used to incentivise the four main components in the XYO network, therefore maintaining the network. In order to ensure an active economy, XYO is rewarded more when users transact during low liquidity compared to when the network has a higher liquidity.
Arie Trouw, Markus Levin, Scott Scheper.