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XYO Network: The Blockchain Based Location Oracle Network to Ease Smart Contracting

With the growth and development of blockchain-based, trustless smart contracts, data location is becoming important every day. Location based technologies largely depend upon the accuracy and validity of the information related to the geographical location. Attempts have been made in the past to eliminate the need of centralized entities that control the flow of data related to location. However, all these attempts relied on the integrity of the devices collecting this data. But there is a new sheriff in town, XYO Network.

What is XYO and how will it operate?

XYO is the blockchain based platform specially developed to use the largest networks of Bluetooth and GPS beacons in the world to serve the users. The XYO Network is blockchain’s first decentralized, trustless and secure Proof of Location platform. It is based on two one-of-a-kind ideas – Proof of Origin and Bound Witnesses. The XYO Network allows developers and smart contract creators to interact with the real world, just like they would through an API.

The XYO Network has four essential parts, Sentinels, Bridges, Archivists, and Diviners. These four segments empower geo-centered, accord building and trustless confirmation of area information. This implies when you write a smart contract that indicates for a question show up at a particular XY arrange, in the event that it shows up there, you will realize that it was at that area with absolute certainty . This is altogether managed without danger of caricaturing the area flagging devices checked by a large number of Sentinels in the XY Oracle Network with the longest Proof of Origin chain.

“Our aim is to make trustless location data possible through an ecosystem of crypto-location technologies and protocols necessary for bridging the gap from the world of today, to the world of tomorrow,” reads the project’s whitepaper.

Uniqueness of XYO Network

Currently, XYO Network is depending on two major technologies – cryptocurrency and blockchain system. The idea of blockchain system to provide a transparent and cheat-proof platform where possibilities of scams can be limited or even eliminated. With the blockchain technology, each user forms its own network which will, in turn, form a bigger and more complete network. It would be impossible to cheat the system because once it has been recorded, it will be shared among users. Unless someone is able to beat and override the whole system, this technology by far has been considered the safest and the best.

Cryptocurrency also makes everything easier. If you think that it is similar to the regular online transaction, you are wrong. In cryptocurrency, however, there is no absolute power controlling everything so it is more flexible, giving you a total freedom of managing everything.

ICO details

XYO Network is in the process of raising funds through its ongoing token sale. The token sale went live on March 20, 2018, and will go on till May 20, 2018. During the token sale, participants can purchase the XYO tokens at a price of 1 ETH for 100,000 tokens.

The proceeds from the token sale will be used for the platform development, and any unsold XYO tokens during the crowdsale will be burned to conserve the value.

More information about the XYO token sale is available at https://xyo.network/

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Institutional Investor: Crypto Will be Worth Trillions, Launches Hedge Fund

After leaving his position as an executive at Steven Cohen’s Point72 hedge fund, Travis Kling decided to start his own crypto-focused fund. This was a big and bullish announcement back then, but it still wasn’t enough to save the crypto market, which crashed only a month later. The following nine months were almost completely ruled by the bears, which has brought a lot of damage to the crypto world. Still, according to new reports, Kling has never given up on this project, and it seems that he will finally be ready to launch the new hedge fund over the next month. The dates have not been set yet, and it is possible that the fund’s launch will be as soon as in about two weeks. Former Point72 Manager Plans the Launch of His Own Crypto Fund The fund has been expected for a long time now, and according to what is known, it will be based in Delaware. Some reports even managed to find out that the name of the fund will supposedly be “Ikigai”. While nobody known for sure when the fund’s launch is actually going to be, it is known that it will happen in October. At first, the fund will be backed by a certain amount of capital that Kling’s unnamed partners have invested. However, later down the line, after the project starts its development properly, Kling plans to search for additional investors. Additionally, he will also add $15 million on November 1st, according to the reports. Eventually, by the time the mid-2019 arrives, Kling hopes that the fund will grow and expand to around $100 million. He even expects Ikigai’s venture branch to rise to $33M in capital invested. As for the foreign investors interested in the fund, they will be capable of allocating capital through investment vehicle based on the Cayman Islands. A Multi-Trillion Asset Class? During one of his recent interviews, Kling stated that he truly believes in the project, as well as the concept, and those willing to back it. This, more than anything, indicates that the project is more than just an attempt to generate large profits. Kling stated that he expects this to become a multi-trillion asset class that will expand to touch everyday life. He stated in an interview: It’s still very early, but the development and growth of this technology will be exponential. The firm will have a 13-person team that is said to be located in Los Angeles, while the fund will seemingly follow the regulations implemented by the Delaware government. Many believe that Ikigai’s launch will come on October 1st and that most of the allocated capital will remain in cash, at least at first. This is due to the fact that the investors are still trying to find a secure way into the crypto world. The post Institutional Investor: Crypto Will be Worth Trillions, Launches Hedge Fund appeared first on NewsBTC.

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