ICO review XYO network

Disclaimer: I am not a professional financial advisor and this is not financial advice. Do your due diligence and never invest more than you can afford to lose.

What is XYO ?

The XYO network is a blockchain project developed by the XY company which has been operating in the IoT hardware and location-based technology since 2012.

The XY Oracle Network aims at providing blockchain developers with smart contracts to interact with the real world for location data in order to transact, and of course, API for XYO network integration would be soon available for developers to connect their devices. Soon enough, there would be ten of thousands of locaiton-reliant dApps on the XY Oracle Network.

How it works?

The XYO Network consists of 4 components collaborating to establish a working process:

• Sentinels gather data about the location, environment, and other nearby XYO Network devices and add this information into the ledger with the absolute accuracy.
• Bridges transmit that data from Sentinels to the public blockchain ensuring no interuption would take place.
  Archivists store and index the information that they receive from Bridges with best security.
• Diviners access the information stored in Archivists to verify location and response to users with the desired answer.

With the XYO network solution, users would get an efficient market charging no overhead fees since buyers and sellers only need to pay for the computation and location-verification execution in a transaction. Moreover, the conventional more has a vital problem of openness, and even sometimes, integrity - their close system tells nothing but their absolute power on the system (and the single central pointbreak that hackers can conduct malicious attacks into to get the data or change it). With the open-source and free to use network, the XYO project offers us a much community-owned solution which is publicly accessible to everyone around the world.

Token functionality

The XYO Network fuel is called the XYO token - a standard ERC20 token built on the Ethereum platform. It is the incentives for the 4 components of the XYO network to grow - only the best performer in each type is awarded with XYO tokens. By best performer, I mean the Diviner, Archivist, Bridge amd Sentinel which are directly connected/related to that answer. So that, all components in the system would head to a better version of themselves since that's the only way they can get paid. It's just like the selection in building up the bes Artificial Intelligience Algorithm. With this model, users would get the most reliable and useful location-based data.

Roadmap

Past:

Since 2012, the XY company has been working on IoT hardware and location-based technology, which is the firm foundation for realizing their vision of bringing blockchain into the real world: the XY Oracle Network

By 2017, they released their outstanding Ground-breaking GPS tracking device called the “XYGPS" - a hybrid of GPS and Bluetooth technology enabled machine reporting its location data. Later than that, their XY4+ devices were introduced into practice enabling the future of XYO Network node opretation via firmware update, which brings this conventional company of internal XY location platform into an open blockchain world.

Present

In this year Q1 & Q2, they've issued the XYO token being the XYO network fuel and conducted the token sale as well as its promotional activities. Also in this course of time, they planned to release their MVP and host a Hackathon encouraging 100 developers to build dApp dedicating to the network.

Future

• By Q3 & Q4, they would launch the XY Oracle mainnet web application called GAMMA providing various tools and functionalities for blockchain programmers to interact with the real world through smart contracts.
• For better integration and the ease of use and adoption of the network, the XY Oracle Network would release their API with supported libraries such as Ethereum Solidity Library, Ethereum Viper Library and JavaScript library for websites.
• eCommerce would be the first targeted market to for the XYO network to aim at, proven by the fact that they would launch their XY-stick right after that so that eCommerce retailers can track their products delivery in realtime.

• In 2019, their primary goal is to expand their presence around the world, which increases their data accuracy as well as security together with the project valuation, by growing the Sentinels coverage (and an equivalent number of other components accordingly for the growth). They've even planned to establish their satellite sentinels yet I'm not sure if it's achievable.
• After their technical growth and expanding, they would work on enterprise partnership to ensure the institutional mass consumption of their product - the location-based data and surplus services.

Token Sale

Token : XYO

ICO timeline: LIVE NOW (About to end in a few hours)

Price: During the Token Sale, there is a tiered pricing structure. The sale price starts at 1 ETH: 100,000 XYO then, after every transaction, the price of XYO increases in order to reward early project backers and maxes out at 1 ETH: 33,333 XYO. For now, when the token sale is about to end, the rate is now 1 ETH : 97,253.95 XYO.

Platform : Ethereum

Accepting : ETH

Token Supply : 24,158,373,684 XYO (projected)

Token sold: 1,896,213,528.47 XYO

Distributed in Token sale :

Hard Cap : $48 mil USD (projected)

Whitelist/KYC : Yes (both)

*ALL UNSOLD XYO will be burned forever.

*No new XYO Tokens will ever be generated.

All future XYO will be earned through XYO paid to crypto-location miners in exchange for them returning locational data to smart contract requests.

Fund usage

Personal assessment

In case you know code or know any IT guy, they have already had a simulation with public code lines updated on GitHub for your review, which you can access here (https://github.com/XYOracleNetwork/xyo-simulation)

The fact that they regularly update development progress with transparent code lines on GitHub together with their fully-planned business strategy which is accessible to any investors on their website and other social network platforms is a solid sign of a valid project that has a the actual potential to grow in the future. That's why, out of the about-to-end projects, I chose to present this project to you in the first place.

Moreover, their strong and year-lasting foundation of working in the location-based data shows the huge potential of making this project a reality, proven by the fact of their experiences in the field together with their 1 million XY devices - Beacon Mark.

P/S: If you are an eCommerce service providers or working in that field, you'd better consider the XYO Network project, since this industry would might be the first market they aim ai as I mentioned above.

More info:

Website: https://xyo.network/

White paper: https://xyo.network/whitepaper/

ANN : https://bitcointalk.org/index.php?topic=3040825.0

Telegram: https://t.me/joinchat/GVfdkUtqtEQ5CC2xXYMqlQ

Twitter: https://twitter.com/XYOracleNetwork

Author’s information:

Bitcointalk username: falana332

Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile&u=1963997

Telegram username:@Falacedean