Buy XYO

XYO Network is a blockchain solution that focuses on creating a trustless and decentralized location data system. The platform uses a network of devices to collect and validate location-based information, bringing a new level of trust and transparency to digital transactions involving location data. XYO Network solves the problem of lack of trust in sharing location data without the use of a central authority.

Devices in the XYO Network network act as witnesses to each other’s location data. This reinforces the authenticity and accuracy of the information, allowing users and businesses to trust the data they receive and use. XYO has many applications, from supply chain management to tracking lost items.

XYO Network stands out for its approach to data collection and verification. It uses blockchain technology to decentralize both data storage and transmission.

Who founded XYO Network?

XYO Network was created by Arie Trouw, Markus Levin, and Scott Scheper, who launched it in January 2018. The trio, with a rich background in technology and entrepreneurship, aimed to decentralize location verification. The network is now managed by a large team dedicated to expanding the network and further developing the technology.

XYO Network has practical and versatile applications. It can be used for:

• Supply chain management: XYO Network provides transparency in the supply chain by verifying every step in the process, giving both businesses and consumers greater confidence in the origin of products.
• Lost and found items: With XYO, users can track the location of valuable items such as keys, wallets or even pets in real time, significantly increasing the chance of recovery.
• IoT device security: By verifying the location of IoT devices, XYO contributes to a more secure network where devices are protected from manipulation and fraud.

The XYO Network uses an advanced system of technologies and protocols to decentralize location verification. Through blockchain technology, XYO is able to provide a transparent and immutable ledger of location data.

Archivists

Archivists are responsible for storing collected location data in a decentralized database. They ensure the long-term storage and accessibility of the data to Diviners. Archivists play a vital role in the XYO Network infrastructure by ensuring the integrity and accessibility of the collected data.

Sentinels

Sentinels are devices within the XYO Network that actively collect and record location data. They act as “witnesses” to location-based transactions on the blockchain, with each device able to confirm location data from other devices. This mutual verification creates a trusted data set.

Bridges

Bridges act as conduits between Sentinels and Archivists. They collect data from Sentinels and forward it to Archivists for storage. Bridges play an important role in the validation and transfer of information, ensuring that the data remains secure and unaltered during the transfer process.

Diviners

Diviners process the stored data of Archivists to answer specific questions, often related to the verification of location data. This process involves complex algorithms and calculations to generate the most probable and accurate answers based on the information collected and verified within the network.

What makes XYO unique is the way all of these components work together to create a self-sufficient and reliable location verification system. The decentralization of the network ensures that no single entity has control over the information, increasing the security and reliability of the data.

Zero-Knowledge Proofs

A key aspect in how XYO works is the use of Zero-Knowledge Proofs. This is a method by which one party can prove to another that a piece of data is true, without revealing any information other than the validity of the data. In XYO’s case, this allows the Sentinels to verify location data without revealing exact location or other sensitive information.

The XYO token plays an important role in the XYO Network and is designed to reward participants and facilitate transactions within the network. The XYO Coin offers several benefits to holders, including access to unique network features, rewards for contributions to the network, and the ability to stake and participate in governance.

XYO runs as an ERC-20 token on the Ethereum blockchain and has a maximum supply of 13.96 billion tokens. All tokens were issued during the launch of the XYO cryptocurrency, meaning that there are no new XYO coins yet to come into circulation.

XYO Network has several unique features that make it a versatile and powerful solution for location verification on the blockchain:

• Decentralization of location verification: XYO enables location data to be verified without the intervention of a central authority. This increases reliability and reduces the chance of fraud.
• Unique operation: XYO Network consists of archivists, sentinels and diviners who work together to collect, store and verify data. This creates a self-sufficient network.
• Interoperability: The XYO Network is designed to work with various hardware and software, making it easy to integrate into existing systems and applications.
• Privacy protection: XYO uses Zero-Knowledge Proofs to verify location data without revealing personal information, ensuring user privacy.

Buying XYO Network (XYO) is possible at Bitvavo. Both beginners and experienced crypto traders can buy XYO via our website or app by following the steps below:

1. Log in to your Bitvavo account or create a new account.
2. Head to "Deposit" to add money to your account.
3. Go to the XYO Network (XYO) purchase page.
4. Determine the amount you want to invest in euros or the number of XYO tokens you wish to buy and confirm your purchase by clicking "Buy".

The price of XYO tokens depends on the current market value. After purchase, your XYO tokens will be automatically added to your Bitvavo wallet. Selling XYO is just as easy, allowing you to quickly respond to price changes of the XYO coin.

At Bitvavo, the safety of your XYO tokens is our top priority, which is why we store the majority of funds securely in cold wallets for optimal security. We also recommend using two-factor authentication (2FA) as an additional security measure.

Bitvavo also supports several software and hardware wallets that are compatible with XYO. After your purchase, you can easily transfer your XYO Network tokens to an external wallet, once you have the correct address linked to your Bitvavo account.