XYO,
the geospatial cryptonetwork, today announced a new product giveaway
that in essence allows users to get paid to “explore the world” while
using an XYO hardware device called a “sentinel.” For a limited time,
XYO is offering the sentinels for free–consumers simply cover the
initial shipping cost. The goal of the giveaway is to add new users to
the Internet of Things (IoT) network that rewards users when verified
location data is used. The giveaway is expected to add new endpoints to
the global XYO network by getting sentinels in the hands of many new
users.
What is a Sentinel?
The success of the XYO network, and the consensus-based model for
location verification, depends directly on a distributed network of
small, colorful, lightweight items which we call findables. These
findables, the newest of which is the “Sentinel-X,” can be a device for
locating keys, for finding a mobile phone, or for tracking down other
essentials that are misplaced.
How Else Can a Sentinel Be Used?
For our blockchain and crypto-oriented community, these same devices are
critical in building out the XYO network, and in increasing the number
of “bound witness interactions” that take place. Sentinels communicate
with each other and with the assistance of the XYO Network app, they
help establish proof of location. When data from any of these bound
witness interactions is then used in any kind of query, everyone whose
devices played a role in the answer will be paid in XYO. So sentinels
can potentially be sources of passive income.
Geomining with the COIN app
Another fun, useful and potentially lucrative use of sentinels including
the new Sentinel-X is the popular smartphone app COIN.
Using the free app, users earn XYO–a market-traded cryptocurrency–for
sharing their location data in a Pokémon GO-style game. The game bridges
the user’s real-world location or movement with a digital geospatial
“quad tile” overlay. At any location on the globe, users can “Geomine”
or share that location data and get compensated in XYO. When users
Geomine, no personally identifiable data is shared, and if there is a
sentinel nearby–i.e. in a backpack, on a keychain or anywhere else
within the standard Bluetooth range of up to 100 feet–then the amount
of XYO earned multiplies. Once a minimum is reached, a user’s earnings
can then be withdrawn to a cryptocurrency wallet. To date more than 67
million XYO have been earned and withdrawn from COIN. With today’s value
of XYO on the market, this amounts to more than $114,000 rewarded to
COIN users since the app was debuted in February.
“We’re in a major expansion push, and are excited to reward new users in
our Community with a free Sentinel-X,” commented Scott Scheper,
Co-Founder at XYO. “Here at XYO, we’ve proven ourselves as an
up-and-coming leader in the industry, and our momentum is strong as we
build out this global geospatial data network and ecosystem of IoT
devices. We welcome everyone to take part and to enjoy the shared
benefits of the network.”
Learn more about XYO and get your free Sentinel-X by visiting https://coin.xyo.network/free-sentinel.
About XYO
Since 2012, with a Dataist focus, XYO has developed trusted IoT
technology that connects the digital world with the physical one. In
2018, the company unveiled the XYO Network, the world’s first geospatial
blockchain network backed by cryptography. With more than 1 million
location-verifying beacons around the planet, XYO technology rivals the
GPS network, and radically transforms the world’s leading industries.
Partners include mapping giant Esri, FedEx Research Institute, Re/Max
Mexico and Spaceflight Industries. XYO Advisors come from leading
organizations including National Geographic and the World Economic
Forum. For more information, visit us at www.xy.company
and https://xyo.network.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190523005213/en/