XYO: PROOF OF LOCATION

The concept of proof of location might seem vague to a lot of people and a good number will be wondering why the need for proof of location at least so far, all our location needs have been met by the current available technology. Daily, most of us rely on our GPS enabled devices for location data, whether we are looking for an object’s location on a map or we are looking for direction especially if we are going to a place that we are not familiar with or when we are looking for a shorter or an alternative route to our destination. Our financial institutions, transportation, the military, etc rely heavily on this technology for the day to day activities.

Although we have come to rely heavily on GPS, it doesn’t mean that it has no shortcomings as many would think, the current GPS is not secure and it’s susceptible to manipulation, erroneous reporting, signal jamming and even cyber-attack. It has left a lot of people wondering aimlessly because of wrong direction or absence/poor signal strength, it also experiences difficulty penetrating buildings resulting in poor GPS signal indoors or in underground buildings. Some have been able to manipulate the system to report wrongly their location or that of an object. All these and more have made the GPS not suitable for blockchain based applications that require precise and reliable location data.

Since the advent of blockchain we have seen a lot of possibilities, a lot of new technologies, the XYOracle Network wants to consolidate on this and build a system that will make location reliant systems secure, transparent and reliable. This will enable DApps which require precise and reliable location data to automatically execute smart contracts in a secure, timely, and transparent manner without relying on third party location systems. To achieve this, XYO Network will employ a set of mechanisms that will rely on proof of origin and bound witness with zero knowledge proof. This will make location verification credible. The XYO Network will consolidate on information provided by Sentinels who are bound to the network to provide high certainty of location data through a chain of cryptographic proofs. Importantly, there is no room for deception in a zero-knowledge proof because it will be impossible for a Sentinel to provide false knowledge and thereby deceive a verifier. The proof can also be statistically checked, making it private, secure and accurate.

For further enquiries
Website: https://www.xyo.network/
Ann Thread: https://bitcointalk.org/index.php?topic=3040825.0
TELEGRAM: https://t.me/xyonetwork
TWITTER: https://twitter.com/XYOracleNetwork
WHITEPAPER: https://www.xyo.network/white-paper18971455

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