What is XYO
XYO is the ERC-20 utility token for XY Oracle Network, used to calculate smart contract agreements for the XYO Protocol. XYO is an Internet of Things (IoT) blockchain technology company, using a network of devices to anonymously collect and validate geospacial data or data with a geographic component. Validity of geospacial data is a key part of the network protocol, and a major benefit offered by XYO network. Sentinal nodes within the XYO network broadcast signals with location and any other requested data (time of day, temperature, etc), and broadcast proximity to other Sentinal nodes to capture bound witness interactions, serving as a form of proof of location. Bridge nodes detect, confirm and attach signatures to bound witness interactions between Sentinal nodes, sending signed interactions to Archivist nodes. Archivists store and encrypt this data, which may be accessed by Diviner nodes to serve user queries for location event data.
