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XYO

XYO

4.4

Price
$0.0068
10/3/2022, 12:30:17 AM
diamondHands

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Market

Market stats

Market cap

$87.3M

Volume (24h)

$578,471.38

Circulating supply

12.8B XYO

Typical hold time

33 days

Popularity

#105

All time high

$0.0800

Price change (1h)

+1.19%

Price change (24h)

-2.45%

Price change (7d)

-1.89%

Trading activity

79% Buy0% Buy
21% Sell100% Sell

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XYO is on the decline this week.

The price of XYO has fallen by 1.89% in the past 7 days. The price declined by 2.45% in the last 24 hours. In just the past hour, the price grew by 1.19%. The current price is $0.0068 per XYO. XYO is 91.50% below the all time high of $0.08.

The current circulating supply is 12,844,821,265.921 XYO.

About

XYO is an Ethereum token that powers XYO Network, a decentralized network of devices that anonymously collect and validate geospatial data. On the XYO World platform, XYO tokens can be traded for and staked against unique ERC-721 tokens representing real-world locations.

What Is XYO (XYO)?

XYO Network is a decentralized device network that anonymously collects and validates geospatial data. XYO is built on the Ethereum blockchain. Geospatial data is data that is associated with a specific location. The platform's goal is to encourage the education, research, and development of the XYO protocol in order to increase public understanding of the benefits of a geospatial location network that is driven by incentives.

Some Key Features of XYO Network:
  • XYO is decentralized: There are no large, fee-based corporations or institutions involved in verification. The XYO Network is based on a completely transparent and self-contained system. The network is open source (free to use) and has no entry requirements (fair competition).

  • XYO is trustless: Power and trust are distributed among XYO Network participants rather than concentrated in a single fee-paying individual or entity. By making all transactions transparent, decentralized, and secure, XYO Networks' blockchain technology eliminates the need for trust.

  • XYO is identityless: Location data is stored anonymously, protecting all XYO Network users' privacy and security. This is accomplished by combining a zero-knowledge proof with a cryptographic technique known as proof of origin. Proof of origin is a method for ensuring the validity of ledgers containing location data flowing into the XYO Network.

Problem and Solution

Smart contracts are increasingly being used to execute contracts in an automated, transparent, and trustless manner. This effectively means that lawyers, middlemen, and escrow are unnecessary and can become obsolete in the future. However, smart contracts have one significant limitation: they typically rely on centralized data sources for data input. Furthermore, they often have a limited offline application.

The XYO Network allows smart contracts to interact with the real world by utilizing the XYO Network's ecosystem of devices to decide if an object is at a specific geographical location or not. With this capability, applications that execute smart contract transactions based on location confirmation can be created.

Components

The XYO network has four components (sentinels, bridges, diviners, archivists), which are linked with each other via a smart contract.

  • Sentinels: Sentinels are devices that serve as location witnesses. Sentinels observe data heuristics and produce temporal ledgers to testify for the certainty and correctness of the heuristic. Heuristics are methods to solve a problem quickly and deliver a usable result. The most significant component of a sentinel is that it generates ledgers that bridges, archivists, and diviners can be assured came from the same source. To accomplish this, sentinels integrate proof of origin with a chain of cryptographic proofs.

  • Bridges: Bridges are devices that interpret data for the location. Bridges protect the transmission of heuristic ledgers from sentinels to archivists. The most critical component of a bridge is that an archivist can be confident that the heuristic ledgers received from a bridge have not been tampered with in any manner. The second most significant feature of a bridge is that it provides extra proof of origin. 

  • Diviners: Diviners are devices that analyze historical material recorded by archivists to find answers to specific questions. Heuristics recorded in the XYO Network must have a high level of proof of origin in order to judge the witness's legitimacy and accuracy (based on its proof of origin). Because the XYO Network is a trustless system, diviners must be rewarded for providing accurate heuristic analysis. Diviners, unlike sentinels and bridges, add answers to the blockchain via proof of work.

  • Archivists: Archivists are devices that store location information from bridges in a decentralized manner in order to make data available to diviners. Archivists also index ledgers so that, if necessary, they can retrieve a part of ledger data. Additional proof of origin is attached to each transfer of data from one archivist to the next in order to track payment (as all archivists get paid). Archivists solely keep raw data and are compensated only when the data is retrieved.

Additionally, XYO is the native token available on the XYO network. The token is considered a gas fee( transaction fees on Ethereum) required by users to verify the query (transaction) on the platform.

History of XYO

XYO or XY Oracle Network was launched by XY Labs in 2017. XY Findables, the company behind the XYO Network, was founded in 2012. Arie Trouw, Markus Levin, and Scott Scheper are the three founders of the project.

Further, the platform has published three papers: The whitepaper was published in January 2018 by Arie Trouw, Markus Levin, and Scott Scheperl. The red paper was published by Arie Trouw, Andrew Rangel, and Jack Cable in February 2018. Lastly, the yellow paper was published by Erik Saberski, Carter Harrison, and Arie Trouw in August 2018. 

How Are New XYO Tokens Created?

The XYO Network employs a proof-of-work mechanism to generate new blocks and reward users. While answering the query, the diviners retrieve information for the blockchain and generate the block. As a result of the proof-of-work mechanism, they are rewarded with XYO tokens.

How Many XYO Tokens Are There?

The total supply of XYO is 13,960,974,963 tokens.

How to Buy XYO Tokens

Investors can buy XYO tokens from several exchanges like Coinbase.

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Social

XYO on social media.

XYO was mentioned in 40 out of 1,632,849 social media posts on Twitter and Reddit on Oct 01, 2022. 45 unique individuals are talking about XYO and it is ranked #846 in most mentions and activity from collected posts.

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Key indicators

Contributors

45 people

Posts

40 posts

Dominance

0%

Volume rank

#846

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FAQ

What is the current price of XYO?

The price of 1 XYO currently costs $0.0068.

What is the market cap of XYO?

The current market cap of XYO is $87.34M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of XYO?

The all-time high of XYO is $0.0800. This all-time high is highest price paid for XYO since it was launched.

What is the 24 hour trading volume of XYO?

Over the last 24 hours, the trading volume of XYO is $578.47K.

What other assets are similar to XYO?

Assets that have a similar market cap to XYO include Project Galaxy, Constellation, Chainbing, and many others. To see a full list, see our comparable market cap assets.

How many XYO are there?

The current circulating supply of XYO is 13 billion.

What is the typical holding time of XYO?

The median time that Coinbase customers hold XYO before selling it or sending it to another account or address is 33 days.

What is the relative popularity of XYO?

XYO ranks 45 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of XYO?

Currently, 79% of Coinbase users are buying XYO. In other words, 79% of Coinbase customers have increased their net position in XYO over the past 24 hours through trading.

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