XYO Network ICO Review: What is XYO Network?
The XYO Network is the first decentralized blockchain platform that is truly trusted and secured along with location proof network. The full credit goes to the two most exceptional core concept i.e. Proof of Origin and Bound Witness. With the help of the API, this platform allows all the developers and the smart contract to deal directly.
The main aim of this platform is to resist to any type of attack and on the other hand, it leads to the highest certainty possible for all type of available data. This achievement is done through a set of an idea which really reduces the risk of location tracking.
With the help of the XYO Network, the platform can easily offer their premium customers with payment upon delivery services. If the platform offers this to the e-commerce company then they would leverage the XYO Network to build up a smart contract. Then this network track the location of the product that has been sent to the customers along with that a single step of fulfillment is attached. The product is tracked throughout from the warehouse to the customer. This helps the customer to remain calm regarding the product as it reaches his place safely. As soon as he receives the product the shipment is considered to be completed and the vendor gets its payment immediately without any delay. This leads to solving the problem of scamming and the customer only needs to pay the amount of the product and there lies no hidden charges.
The XYO network deals with the awarding platform i.e. Ethereum ERC20 XYO Token. As soon as the use share its query through this platform the platform response through XYO token. It gives the user the required token totally based on the importance of the query or difficulty of the query. If any user proves the best answer to the queries then they are rewarded with the tokens. The Archivist always stores the information which is used to generate the answer of the user and on the other hand, the Bridges, as well as the Sentinels, provide the data which is required. So therefore now we understand how the XYO Network supports their user by providing the required rewards to them and in return provides the best and trusted data.
This is a platform which encourages the entire token holder not to use their tokens as that can lead to a huge problem in the long run in this field of economy. This platform provides a limited store of value and reason for normal desire which is created for not using the token; this is done on behalf of increasing usefulness and liquidity. The crypto economic platform looks after the problem faced by the token miner and not onto the token users. If we look at the XYO Token then it looks after both the account properly. The platform does not only look at the accurate data but also have knowledge regarding when to provide them.
When a query is answered in a particular desired manner then the user gets a reward for his work. We all heard about Sentinels, Bridges, Archivists, and Diviners, and these are all reward that a user receives after the work. In any case, the same query is asked on the platform then more than one answer can be produced in the platform. Within two steps the answer can be produced on the platform. Firstly an analysis is done to find the best reply to the query. But in any case, if there are many answers provide in the platform then the system chooses the best answer for the user.
XYO smart contract receives a certain set of digital signatures so that the smart contract can verify the honesty of the Diviner to send the answer. Then the platform can easily verify the other Diviners that sign into this platform with a high confidence interval. Therefore the transmitting oracle would be a single source of failure and form a risk within the system.
XYO deals with the Distributed Denial of Service (DDoS) attack. The attack aims to make all online services inaccessible by crushing it with the traffic with the help of various sources. The attempts are made on a wide range of field. These may include the banks to news websites. A major challenge is taken to see that all important information can be easily published and people can get access to the information.