Overview of XYO Network

The XY Oracle Network, also known as XYO Network, is a device collecting and validating geospatial data or information that has geographical components. Location beacons are used in conjunction with the internet of things and mobile devices to achieve this. Validating geospatial data is a major part of the protocol. Let’s check the XYO price prediction explained here in detail.

XYO Overview

Cryptocurrency XYO
Ticker Symbol XYO
Price $0.009668
Price Change 24h -2.81%
Price Change 7d -1.72%
Market cap $124,272,170
Circulating Supply 12,844,821,266 XYO
Trading Volume $2,592,153
All time high $0.08203
All time low $0.00009607
XYO ROI +29.43%

The trustless cryptographic location network provides layered location verification across device classes and protocols. A new cryptographic mechanism called proof of origin & bound witness is combined with blockchain technology and real-world location-based data collection to form XYO Network.

XYO stands to create trustless, decentralized systems or location oracles. XYO cryptocurrency allows developers of the smart contract and blockchain system to interact with the physical world like an API. The system tries to provide exact details with the help of a set of abstractions. This set of abstractions reduced the risks of location spoofing through a chain of zero-knowledge proofs.

The community of XYO cryptocurrency was established in 2017. XY Labs is the team behind the XY network. The developers aim to educate the world about the advantages of an incentive-driven geospatial location network.

Features of XYO

XYO can enable users to launch into a protocol of connected devices which provides accurate location information with the help of a chain of the cryptographic protocol. Users can initiate transactions called ‘Queries.’ Queries are used for recouping location data from any blockchain with smart contract functionality.

Aggregators will address the queries, find the best suitable answers from the decentralized device set, and feed this back to the smart contract. System components locate the object at a specific XY coordinate at a given time with almost certainty.

  • The accuracy score is called the origin chain score, and it is determined by a set of zero-knowledge proofs called proof of origin chain.
  • Each component along the data path adds proof of origin to protect the confidentiality of the information.
  • Diviners have a decentralized consensus mechanism, and this is realized with the help of an immutable public blockchain called XYO main chain.
  • XYO main chain pool query transactions, information collected from diviners, and associated score.
  • XYO is competent to interact with smart contract capable, public blockchain such as Ethereum, Stellar, Cardano, EOS, and NEO.
  • XYO app is available on both IOS and android.xyo forecast
  • The network has a ready-to-use SDK: Kotlin core SDK, Swift core SDK, and Node JS core SDK.

By integrating with the XYO network, E-commerce companies can track their shipment at every stage using separate ledgers. It will confirm shipment at every step as well as the delivery point. It can provide independently verified paths for the drone systems to avoid collision and intimate the exact path and locations.

XYO will help the medical industry by providing accurate location data to emergencies, reducing errors, and increasing hospital accountability. The flight transportation industry can leverage the advantages of XYO to precisely track luggage shipments to avoid losses and delays in delivery.

Products of XYO

Sentinels

Sentinels are physical or sentinel devices in the XYO that collect location information. When two sentinels are near each other, they will initiate the signal that they are in the exact location. This interaction is called the bound witness, and it is the proof of sentinel location, so sentinels are also called location witnesses. Sentinels observe the data heuristic and confirm its accuracy by producing ledgers. Sentinels are working with the help of proof of origin to a relay chain of cryptographic proof. When the information provided by the sentinel meets the criteria of the network and is accepted as an answer; then, sentinels will be rewarded using XYO tokens.

Bridges

Bridges act as an interconnection between sentinels and archivists. It takes the information from the sentinels and provides that to the archivist. It is a node that searches for witness interaction. Bridge nodes can be operated from Bridge devices or smartphones. Bridges transfer the same details without any alteration only by adding Proof of Origin. When the information is transferred, a bridge is used to answer the query, then they will get incentivized using the native token of XYO.

Archivist

Archivists are the information storers to Diviners. Archivists record all the confirmed witness interactions. It collects data from bridges and is stored in a decentralized form. The archivist also has ledgers; hence they can easily return a string of ledger data if needed. The storage in archivists is free, and archivists are incentivized only when the stored raw information has been used to answer a query. Archivists are interconnected, so if one archivist cannot answer a particular query, it will ask the other.

Furthermore, archivists are of two types, one at the production edge and the other at the consumption edge. Archivists at the middle are called hybrids. An additional Proof of Origin will be added when data is handed over from one archivist to another, and all archivists involved in the transfer will be rewarded.

Diviners

Diviners serve as an oracle to upload this data into smart contracts. Diviners collect the information transferred from archivists, analyze them and provide accuracy scores to generate them as answers. Therefore they are considered the most important part of the network. Diviners try to find out the exact answers from the archivists for the query raised in the smart contract. Answers with the highest accuracy scores will be selected as answers to upload back to smart contracts. Queries in the smart contract are prioritized based on the reward. The higher the reward, the faster the query will be addressed by the system.

Overview of XYO Token

XYO is the native cryptocurrency of the XY network. This network is governed by its native virtual currency. It is an Ethereum based ERC-20 token. XYO coin provides shared incentives in every stage of accurate material collection. It can be regarded as the ‘gas’ needed to interface with the real world to verify XY coordinates. Users need to hold sufficient XYO tokens to put a query in the network.

A portion of the gas fee will be paid to all components involved in the collection and giving proper answers. Geo mining app allows users to mine XYO cryptocurrency on mobile devices easily. All the utility cases are provided by XYO utility token.

The token sale was on 20 March 2018 with 100,000,000,000 tokens. Regarding the token distribution, 40% were allocated for ecosystem growth and marketing, 35% for engineering and R&D, 15% for Oracle network platform utilization, 5% overheard, and 5% for supporting Ethereum platform projects.

XYO Technical Analysis

Based on the latest news from the cryptocurrency market, global cues and fears about Omicron weighed on other cryptocurrencies today. Most cryptocurrency prices are bleeding amid weakness in the most riskier asset class. The high volatility resulted in the Behemoths like Ethereum and BTC plunging for the current trading session. To read more in detail about other cryptocurrencies, a detailed information by the experts is always advisable before investing in any coin.

XYO price today is trading at $0.0177, with a 24 hours trading volume of $4,320,457.08. The total market cap is $228,912,579.03, with a circulating supply of 12,844,821,266 XYO. The historical data point to an all-time high at $0.08203 on 6 November 2021. An all-time low is noted at $0.00009607, which was on 13 March 2020.

XYO Predictions

Looking at the past year performance of the XYO Price chart, an upward journey of the coin began from November 2021 onwards. Starting from December 2021, the price of XYO showed a bearish signal, and the XYO’s price has dropped to half of its highest price, and the breakdown is unable to find support at any level. The global negativity can also be a reason for the plummet of the current trading session.XYO Forecast

After looking at the major support and resistance levels, immediate resistance is placed at $0.019, and any rise from this level can take XYO price to the resistance level at $0.024. Bulls may seek an opportunity above this, and major resistance is placed at $0.046. Above this level, investors can think of a long-term investment option.

On the downside, immediate support is placed at $0.016; below this, XYO price seeks support at $0.014.

XYO Price Predictions

The major technical indicator shows that MACD is slightly above the signal line, but the candlestick pattern is insufficient to support a trend confirmation. RSI is placed at 40.39. XYO price is trading below its 50 EMA, 20 EMA and 200 EMA.

XYO Predictions Chart

XYO price tried to cross the middle line of the Bollinger band but currently trading below. ADX struck 33.18, which means the downtrend is weak. There is a chance for a trend reversal in the short term.

To put the technical analysis briefly, though there is a bullish Marbozu formed in the chart previously, it cannot sustain for the current trading session, and there are no other bullish signals in the chart. But XYO cryptocurrency may start moving upward within the medium term. It will try to hold green for tomorrow, but due to the negativity in the crypto market, XYO is expected to trade in red for the coming days.

Once the upward trend is confirmed, then traders can look for a swing entry. Proper price action with technical indicators support is appreciable before entering into a long-term position. Investors can wait for that before making an investment decision in XYO.

XYO Price Forecast 2022-2026

The fear of financial instability or macro-economic threat did not stop the cryptocurrency market from coming to the fore. Despite this new asset class’s high risk and volatility, investors are betting on coins for the long term. The price of XYO is dependent on the underlying utility of the XYO coin name system, ecosystem, and market sentiments. Looking at the other side of making money in Digital assets, it is a tough row to know the future direction, so it is better to seek proper and good investment advice before making financial decisions in crypto which will help to buy or sell XYO. Let’s read more about the XYO price prediction about XYO’s future for the next five years.

XYO Coin Price Prediction 2022

The price forecast throughout the year is highly bullish and the maximum price predicted is $0.0299 and the minimum price for the year is $0.0267 for the short term. Based on the XYO price prediction 2022 and our own research, the average price is around $0.0280.

XYO Price Prediction 2023

Based on the XYO price forecast, a start at $0.0371 is expected. There will be a lag after this, and XYO coins may move slowly in the year’s second half of the year. XYO is expected for maximum value to reach $0.0351, and the minimum value is $0.0289, while the average trading value prognosticated is $0.0316, as per our XYO price prediction. Compared to the XYO current price, it will become a profitable investment within two years.

XYO Crypto Price Prediction 2024

As per technical analysis and XYO forecast, the price of XYO may reach $0.0337 in the first quarter. As per XYO coin forecast, the XYO price may reach $0.0359 by the year end. The maximum price level might reach $0.0283. The average price XYO to reach $0.0242 as per the price predictions. Price movement is slow compared to the previous year, and price hanging is expected between the year. Price ranges from $0.0218 to $0.0337 are expected.

XYO Price Prediction 2025

XYO price predictions and technical analysis have anticipated an opening at $0.0521. XYO forecast a surge towards $0.0443 by the end of 2025. To sum up five-year XYO price prediction, the average price is increasing, and future results are convincing. XYO is a good investment for the long term as per our XYO price prediction.

XYO Price Prediction 2026

As per the XYO forecast, the future price predictions of XYO is quite attractive since the chances of price going up are higher than price moving down based on the current trends. The maximum price is predicted to reach by 2026 is $0.0435, while the minimum price may reach $0.0355. Throughout the year, the average price of XYO is predicted to be $0.0389, as per our XYO price prediction.

Frequently Asked Questions

Where can I buy XYO coins?

You can trade XYO from major crypto exchanges such as HitBTC, KuCoin, and Gate.IO for investment. XYO price predictions suggest that there is going to be a price rise so investing in XYO may be a good decision for you.

Is XYO a good investment?

Yes, XYO is a great investment as per our XYO price prediction! Based on the fundamental analysis of projects as well as the technical details of the company, XYO has unique blockchain applications compared to other projects. The future crypto market may vary, so it is recommended to have your own research or a bit of financial advice before investing.

What is XYO price prediction 2030?

The XYO price predictions are quite bullish! The average value of the coin might be $0.0830, with a maximum value of $0.0851. Based on the current market cap and 24 hour trading volume, XYO is predicted to have a minimum future price of $0.0783 by 2030.

Is XYO worth to buy in 2022?

The current price of XYO is $0.0177 and as per XYO price prediction 2022, it can reach maximum price of $0.0241 and average price of $0.0222 by the end of the year 2022.

Will XYO price go up?

According to the XYO price prediction, XYO’s price might go up to $0.0965 by the year 2031.

Does XYO have a future?

Based on the current price and scenario and XYO price prediction, it can be said that it is a good long term investment. If the current trend continuous, the price of XYO might reach to $1 in the coming years.

Buy XYO

Source link: https://www.cryptonewsz.com/forecast/xyo-price-prediction/

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