XYO, the technology bringing blockchain to the real world, has announced the company has completed a major technological achievement and milestone: the successful completion of “Bound Witness” interaction between multiple XY4 endpoint devices, known as Sentinels, the company said.
The achievement is critical as XYO builds out its fully decentralized, trustless mesh network that will validate relative location, as well as other important heuristics, over the coming months. There are more than 100,000 XY4+ beacons in the market currently eligible for the free update to XY-enabled Sentinel status, details of which will be announced shortly.
Bound Witness is a bi-directional location heuristic that establishes proof of location through two devices co-signing an occurrence and range of interaction. The Bound Witness achievement sets the stage for XYO to augment its already decentralized global network of beacons, in migrating them to Sentinels and full participants in the blockchain-based XYO mesh network.
XYO is an effort to create a vast, geospatial, blockchain-powered location network currently under development with the goal to provide accurate, certainty-driven location data on everything from cars to smartphones. By combining location beacons with IoT and mobile devices, the XYO ecosystem plans to deliver the verified coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of location-centric applications. For more information, visit https://xyo.network.