XYO Networks is developing the first blockchain providing a crypto-location oracle network. The goal is to provide anyone to use smart contracts that can interact with the real world as easily as if there was an API.
XYO Networks is funding the XYO blockchain through a token sale. Here we’ll look at some of the key questions in relation to the XYO token sale.
What is the primary use case for XYO Networks?
A range of industries may soon require trustless location data. These including self driving vehicles, smart cities and package delivery drones. XYO Networks would provide secure and certain location data for these rapidly emerging industries.
What blockchains does XYO Network interact with?
XYO Network natively interacts with the main blockchain platforms. It is an agnostic protocol that will be able to integrate with a diverse range of blockchains.
What are the primary components of the XYO Network?
There are four main components to the XYO network which are Sentinels, Bridges, Archivists and Diviners. These components work tighter in order to create verified, trustees location data.
How is this data used?
Developers will be able to write a smart contract that can specify a certain action takes place when an object appears at a specific geo location. The developer can be confident that the object is in fact in that location.
How does pricing work during the token sale?
XYO have a unique way of pricing their token during the sale. The price of the XYO token starts at a rate of 1 ETH to 100,000 XYO. When someone buys XYO token the number of XYO tokens future buyer receives decrease slightly. When the price reaches 1 XYO is equal to 33,333.33 XYO the price stabilises. The price stays at that price until the end of the token sale. This is to reward early investors in the token sale.
What happens to unsold XYO tokens at the end of the sale?
At the end of the token sale all unsold tokens will be burned forever. Following the end of the token sale no new XYO tokens will ever be generated.
What type of token is XYO?
It is an ERC-20 compliant token created on the Ethereum blockchain.
What does XYO token stand for?
XYO is short for XY Oracle Token.
Where can you find more information about the XYO token sale?
XYO Network Website: https://xyo.network/
XYO Network Twitter: https://twitter.com/XYOracleNetwork
XYO Network Facebook: https://www.facebook.com/xyonetwork
XYO Network Instagram: https://www.instagram.com/xyoraclenetwork/
XYO Whitepaper: https://xyo.network/whitepaper/