XYO Network, a blockchain-powered location network that’s bringing blockchain to the real world, today released its first-ever Yellow Paper. The Yellow Paper was authored by XYO Data Scientist Erik Saberski and details how different components of the crypto-location oracle network exchange binary information.
The Yellow Paper represents a significant milestone that follows the company’s recent acquisition of geospatial blockchain company LayerOne, which was rebranded as XYO Sacramento. XYO has also formed a partnership with CAS Smart Cities, a Chinese-based data management platform for the Internet of Things (IoT), and joined two blockchain alliances – Mobility Open Blockchain Initiative (MOBI) and Blockchain in Transport Alliance (BiTA).
“At XYO we have some of the brightest minds in blockchain committed to building the first trustless, cryptographic network of decentralized location data. This Yellow Paper removes a roadblock to taking our system from concept to competition and provides an implementation guide for specifications to building on the network. This is a living document that our team will be constantly adding to and improving as our technology evolves. We encourage everyone to read it and give us feedback.”
XYO Network adds location reliability data to blockchain uses that not only protects privacy, it provides greater accuracy of where objects are both in relation to other objects and where they are on the planet. With its next generation of GPS functionality, the XYO Network can power everything from automated parking payments to smart contracts accessing the real world by using its ecosystem to determine whether an object is at a specific XY coordinate at a specific time.
For more information about XYO see the Yellow Paper.