$ 0.0046 USD
$ 0.0046 USD
$ 58.576 million USD
$ 58.576m USD
$ 730,621 USD
$ 730,621 USD
$ 6.092 million USD
$ 6.092m USD
13.4767 billion XYO
Issue Time
2018-05-23
Platform pertained to
--
Current price
$0.0046USD
Market Cap
$58.576mUSD
Volume of Transaction
24h
$730,621USD
Circulating supply
13.4767bXYO
Volume of Transaction
7d
$6.092mUSD
Change
24h
0.00%
Number of Markets
73
More
Warehouse
Jeremy
Github's IP Address
[Copy]
Codebase Size
8
Last Updated Time
2020-12-03 15:35:58
Language Involved
--
Agreement
--
Current Rate0
0.00USD
3H
0.00%
1D
0.00%
1W
0.00%
1M
-3.59%
1Y
+49.11%
All
+1169.28%
Aspect | Information |
---|---|
Short name | XYO |
Full name | XYO Network Token |
Founded year | 2018 |
Main founders | Arie Trouw, Markus Levin, and Scott Scheper |
Support exchanges | Binance, Kucoin, and Bitrue |
Storage wallet | MetaMask, Trust Wallet, and Ledger |
XYO Network Token, commonly referred to as XYO, is a decentralized network of devices that anonymously collect and verify geospatial data or data with a geographical aspect. Launched in 2018 by main founders Arie Trouw, Markus Levin, and Scott Scheper, XYO aims to create a trustless and secure system for location data to prevent fraud and provide location-dependent services on the blockchain.
Rather than relying on a centralized entity to confirm the validity of geospatial data, XYO utilizes a system of 'Bridges' and 'Archivists' to gather data and store it on the blockchain. This network can then be utilized by 'Diviners' who analyze and retrieve this data, using it to answer queries and provide services.
This blockchain-based system strives to make location data more reliable and accessible to industries and smart cities, logistics, and other arenas where geospatial data holds significant importance. XYO can be traded on exchanges like Binance, Kucoin, and Bitrue. It can be stored in various wallets such as MetaMask, Trust Wallet, and Ledger.
Pros | Cons |
---|---|
Decentralisation of geospatial data | Requires extensive network participation |
Potential for integration in various industries | Dependent on market adoption |
Prevention of location data fraud | Technology could be susceptible to spoofing & manipulation |
Secure storage of data on blockchain | Blockchain scalability challenges |
Potential for generating passive income (via mining) | Reduces battery life of mobile devices (if used as Miner) |
Pros:
1. Decentralisation of Geospatial Data: XYO takes a decentralized approach to geospatial data which prevents sole control and manipulation by one entity. It promotes freedom of information and shared control.
2. Potential For Integration in Various Industries: The concept of verifying and providing geospatial data has a lot of potential in different fields such as transportation, supply chain, and logistics, which can benefit from reliable location-based data.
3. Prevention Of Location Data Fraud: Through its decentralized system, data on the XYO network is cross-verified by many nodes, which can help prevent falsified location data and location-based fraud.
4. Secure Storage Of Data On Blockchain: All data collected is stored securely on the blockchain, providing transparency and immutability.
5. Potential For Generating Passive Income: As part of the XYO network, individuals can earn XYO tokens passively for collecting and validating location data.
Cons:
1. Requires Extensive Network Participation: The success and reliability of the XYO network depend heavily on widespread participation and the number of active nodes in the network.
2. Dependence On Market Adoption: The usability and value of XYO tokens depend on market acceptance, meaning if industries and businesses do not adopt this technology, its value and usability may be limited.
3. Technology Could Be Susceptible To Spoofing And Manipulation: Despite the decentralized verification process, the XYO network might still be susceptible to location spoofing and data manipulation techniques.
4. Blockchain Scalability Challenges: As with many blockchain technologies, the XYO network might face scalability issues as it expands and accrues more data.
5. Reduces Battery Life Of Mobile Devices: If individuals use their mobile devices as nodes to participate in the XYO network, this could significantly reduce the battery life of these devices.
The XYO Network Token introduces an innovative twist to the utilization of blockchain technology by focusing on creating a decentralized and trustless system for verifying and collecting real-world geospatial data. Unlike traditional cryptocurrencies, which primarily facilitate transactions or act as a store of value, the XYO token is used to stimulate the participation and interaction within its unique ecosystem.
The principal innovation of the XYO Network resides in its use of a network of devices or 'Nodes' that anonymously collect and validate geospatial data. The system comprises 'Bridges', which gather real-world location data, 'Archivists' that store this information securely on the blockchain, and 'Diviners' that retrieve and analyze this data to answer queries and provide location-based services.
This approach means that XYO has found a niche within the market that isn't occupied by many cryptocurrencies. While typical cryptocurrencies focus on financial applications, XYO seeks to solve the problem of trust and accuracy in location data. This crucial differentiation brings blockchain technology to industries and services where location data is highly necessary such as logistics, supply chain management, fraud detection, and smart cities.
However, despite this distinction, similar to other cryptocurrencies, the XYO token operates in a decentralized environment and is subject to the general challenges associated with blockchain technology, such as scalability and the requirement for widespread adoption.
Circulating supply: The circulating supply of XYO Network (XYO) is currently 13.93 million tokens. This means that these are the tokens that are currently available to buy and sell on exchanges.
Price fluctuation: The price of XYO has fluctuated significantly since its launch in June 2018. It reached an all-time high of $0.081391 on November 6, 2021, but has since fallen to its current price of $0.00293 as of September 21, 2023.
There are a number of factors that can contribute to the price fluctuation of XYO, including:
Supply and demand: The price of XYO is determined by the supply of tokens available and the demand for those tokens. If there is more demand for XYO than there is supply, the price will go up. Conversely, if there is more supply of XYO than there is demand, the price will go down.
News and market sentiment: Positive news and developments surrounding XYO can boost demand for the token and drive up the price. Conversely, negative news and developments can dampen demand and drive down the price.
Overall market conditions: The cryptocurrency market as a whole is volatile and can experience significant price fluctuations. XYO is not immune to these fluctuations and its price can be affected by broader market conditions.
Additional notes: XYO Network is a decentralized location data network that uses blockchain technology to provide accurate and secure location data. XYO tokens are used to incentivize users to share their location data and to participate in the XYO Network ecosystem.
The XYO Network team is working on a number of initiatives, including expanding the XYO Network ecosystem and launching new features. If the team is successful in executing on its plans, this could boost adoption and demand for XYO.
Overall, XYO Network is a promising project with a number of potential benefits. However, it is important to be aware of the risks associated with investing in a cryptocurrency, including the risk of price volatility.
Investors should carefully consider their own risk tolerance and investment goals before investing in XYO.
The XYO Network operates based on a four-component architecture, namely Sentinels, Bridges, Archivists, and Diviners.
1. Sentinels: These are devices or nodes that collect real-world location data. They can be anything from mobile phones to IoT devices that can communicate location data.
2. Bridges: These act as a bridge between Sentinels and Archivists. They collect data from the Sentinels and pass it on to the Archivists.
3. Archivists: These are nodes that store the location data on the network. Archivists keep a record of all the data that Sentinels procure and Bridges forward, ensuring that this data can be accessed for future queries.
4. Diviners: These are the nodes that respond to a query by analyzing the data provided by the Archivists. They perform a consensus algorithm to validate the genuineness of the data before updating it on the blockchain.
The XYO Network operates on a trustless system, meaning no single party is relied upon to verify the location data. Instead, it uses a decentralized network of nodes each playing their unique roles. When a query about a specific location data comes up, the Diviners analyze the data and retrieve the most reliable and validated data from the chain of location-verified transactions stored by the Archivists.
The decentralised and trustless system of XYO not only ensures transparency in geospatial data collection and storage but also aims to prevent any single entity from manipulating the data. By doing this, XYO strives to solve the challenge of trust and accuracy in location data, providing reliable location-based data to industries.
Exchanges to Buy XYO
Here are ten exchanges that support buying XYO, along with some of the currency and token pairs they support. Please note that the information might change and it is always a good idea to check the exchange for most accurate and up-to-date details:
1. Binance: Known as one of the largest cryptocurrency exchanges worldwide, Binance provides a broad range of pairs including XYO/USDT, XYO/BTC.
2. KuCoin: Being a global cryptocurrency exchange, KuCoin supports XYO trading in pairs like XYO/USDT.
3. Bitrue: Bitrue is another exchange that facilitates the trading of XYO. The exchange offers pairs such as XYO/XRP, XYO/USDT.
4. Gate.IO: Gate.io, a reputable exchange for a wide variety of cryptocurrencies, allows for XYO trading with pairs like XYO/USDT.
5. LATOKEN: LATOKEN is another exchange which supports XYO trading. Common pairs include XYO/USDT.
6. BitMart: BitMart exchange users also have access to XYO trading with pairs such as XYO/USDT.
7. CoinEx: On CoinEx, users can engage in XYO trading. The platform offers pairs such as XYO/USDT.
8. Uniswap (V2): Uniswap is a decentralized exchange operating on the Ethereum platform. It supports token pairs like XYO/ETH.
9. Balancer: Balancer is a decentralized exchange that allows you to swap ERC-20 tokens. XYO can be traded with other tokens on this platform like XYO/ETH.
10. Probit: Probit is another exchange supporting XYO trading. Common pairs include XYO/USDT.
Remember, not all exchanges may support the same pairs, and trading fees can vary from exchange to exchange. Please exercise caution and conduct sufficient research before trading on any cryptocurrency exchange to avoid potential risks.
Storing XYO tokens involves the use of cryptocurrency wallets, which are digital tools designed to hold your tokens securely. Wallets can come in various forms, but for XYO, which is an ERC-20 type token, it will require a wallet that is ERC-20 compatible. Here are a few options:
1. MetaMask: A popular choice for storing ERC-20 tokens, MetaMask is a browser extension wallet that is easy to install and use, providing a secure place to store XYO tokens. It's also directly integrable with most decentralised exchanges like Uniswap.
2. Trust Wallet: This is a mobile wallet that supports multiple cryptocurrencies and all ERC-20 tokens. Trust Wallet also provides an easy-to-use interface for managing and trading your tokens.
3. Ledger: If you're looking for more secure, hardware-based storage, Ledger models such as Ledger Nano S or Ledger Nano X are excellent choices. They allow offline storage and are integrated with a secure chip to prevent physical and digital intrusion.
4. Trezor: Trezor is another hardware wallet that can store XYO tokens. Much like the Ledger, it provides secure cold storage to keep your tokens safe.
5. MyEtherWallet: A web-based wallet known for its compatibility with ERC-20 tokens. While it's less secure than hardware wallets, it's still a good choice for those who prefer web-based wallets.
Please remember, regardless of which wallet you choose, always make sure to secure your private keys and backup phrases. These will help you recover your assets should you lose access to your wallet. Also, consider the security, convenience, and functionality of each wallet type before choosing one.
Buying XYO may be suitable for a variety of individuals, depending largely on their interest in blockchain technology and geospatial data, risk tolerance, and investment strategy. However, there are a few categories of individuals who might find XYO particularly appealing:
1. Cryptocurrency Enthusiasts: Those who follow and invest in the cryptocurrency markets are often interested in tokens that have unique value propositions. The XYO token, with its unique focus on location-based data on the blockchain, might appeal to such individuals.
2. Blockchain Innovators: People who are interested in innovative uses of blockchain technology might also be interested in XYO. This includes developers and technologists who see value in decentralized, trustless location data.
3. Long-Term Investors: Given that the success of XYO hinges largely on the adoption of its geospatial technology, it might appeal to long-term investors who are willing to wait for this technology to mature and gain more widespread acceptance.
For those planning to invest in XYO, here are several pieces of advice:
1. Research: It's crucial to research thoroughly before purchasing XYO or any other cryptocurrency. Read the XYO whitepaper, stay updated with the latest news, and understand the technology and the challenges it aims to address.
2. Market Conditions: Consider market conditions when planning to buy. The price of XYO, like any other cryptocurrency, can be volatile. Investors should be aware of this volatility and comfortable with dealing with it.
3. Diversification: You may want to consider diversifying your investment and not putting all your funds into a single cryptocurrency. This could help decrease risk.
4. Wallet Security: Ensure that you possess a secure wallet to store your tokens.
5. Risk Assessment: Understand that all cryptocurrencies, including XYO, come with their own set of risks. Make sure you assess your own risk tolerance and invest wisely.
6. Regulation: Be aware of the regulatory climate in your jurisdiction. Some locations have more stringent regulations than others when it comes to cryptocurrencies.
Remember, always take a vigilant and informed approach to investing in cryptocurrencies.
XYO Network Token, known as XYO, is a unique cryptocurrency that brings together the world of geospatial data and blockchain technology. It provides a decentralized system for verifying and storing location data on the blockchain, to prevent location fraud and provide valuable services to industries that heavily rely on geospatial data.
The trading of XYO is supported on several exchanges, including Binance, Kucoin, and Bitrue, and it can be stored in ERC-20 compatible wallets such as MetaMask, Trust Wallet, and Ledger.
As a relatively new and innovative application of blockchain, XYO has potential growth prospects especially as location-based services become increasingly critical. However, much like all cryptocurrencies, its success largely depends on market adoption and acceptance of its underlying technology.
Potential investors should note that while certain individuals might have earned profits from XYO, whether through trading or mining, the appreciation in value and profitability is never guaranteed. As with all cryptocurrencies and investments, there is risk associated with it. Therefore, thorough research and understanding along with assessment of personal risk tolerance are crucial before any investment decision.
Q: How does XYO differentiate itself from other cryptocurrencies?
A: Unlike conventional cryptocurrencies, XYO incorporates geospatial elements, aiming to ensure accuracy and trust in location data within its blockchain network.
Q: Which wallets can be used to store XYO?
A: XYO, being an ERC-20 token, can be stored in any ERC-20 compatible wallet, including MetaMask, Trust Wallet, and Ledger.
Q: Where can one buy XYO tokens?
A: XYO tokens can be purchased on exchanges such as Binance, Kucoin, and Bitrue, among others.
Q: What are the components that make up the XYO Network?
A: The XYO Network comprises Sentinels, Bridges, Archivists, and Diviners, each serving a unique role in the collection, validation, storage, and analysis of geospatial data.
Q: Is investing in XYO guaranteed to generate profits?
A: Like any other cryptocurrency, the profitability of investing in XYO is not guaranteed and is subject to a variety of market and financial risks.
Q: How does the XYO Network handle location data fraud?
A: The XYO Network integrates a decentralized verification structure to prevent falsified location data and location-based fraud.
Q: What type of cryptocurrency is XYO?
A: XYO is an ERC-20 type token, built on the Ethereum blockchain with a focus on geospatial data.
Q: What might be the future prospects for XYO?
A: The future prospects of XYO largely depend on market adoption of the technology and the growing importance of location-based services.
Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.
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