XYO Network is partnering with space industry leader Spaceflight to launch XYO Networks’ “EtherX” spacecraft into orbit. This is the first step in achieving its mission of decentralizing the world’s location infrastructure, which currently revolves around the centralized Global Positioning System (“GPS”), which is owned by the U.S. Air Force.
XYO Network Co-Founder Scott Scheper commented:
“Speaking personally, Ethereum inspired me to go from a long-time blockchain observer to going ‘all in’. My work is now 100 percent focused on blockchain technologies. What the Ethereum developer community and Vitalik Buterin have built, has moved the entire ecosystem forward, period. As an ode to Ethereum and Vitalik, we decided to name our first satellite the ‘EtherX.’”
“We’re pleased to provide launch services to XYO Network on an upcoming SpaceX mission,” noted Melissa Wuerl, vice president of business development at Spaceflight. “Our business is based on helping innovative, visionary companies get to space and we’re looking forward to assisting XYO Network to execute their business plan.”
The EtherX is only the first of XYO Network’s fleet of satellites. The company intends to launch a fleet of satellites named after important cryptographers and individuals who inspired them. In fact, XYO Network plans on enabling their global community of “Geohackers” to fully participate by purchasing a ‘stake’ in each satellite.
“Satellites are our first step toward building out an open location network, legitimately positioned to displace the U.S. Air Force’s GPS monopoly. Furthermore, by pairing it with XYO’s cryptographically-backed protocol, we will deliver a layer of un-spoofable location certainty which GPS can never match,” continued XYO Network Co-Founder and CMO Scott Scheper. “Every wildly successful company in history comes to the point where they can play it safe, or think bigger. Those who are part of our movement already know how we do things. We’re the crazy ones. We’re not just going to launch to the figurative moon, we’re going to the literal one. Screw it, let’s do it.”
XYO Network recently drew positive industry attention for executing a geospatial blockchain smart contract using a drone at its inaugural Spatial Summit event in front of more than 700 attendees. At the event, the company launched the fully functional XYO MainNet, dubbed “WinterNet,” making it the world’s first Geospatial Blockchain platform to go live.
dApp developers worldwide have begun creating location-based decentralized applications, called “Geodapps” – and with the upcoming launch of its satellite network, the XYO Network will gain unprecedented coverage to triangulate and validate its ground-based geospatial blockchain nodes, collectively known as “Sentinels.”
In the initial stage involving key technology partners to be announced shortly, XYO will be in a strong position to deliver an unprecedented level of location certainty to XYO Network “edge nodes,” which are powered and operated by community members all over the globe (“Geominers”).
The current XYO Network is comprised of multiple relative location-based “mesh networks.” These mesh networks are backed by a cryptographic protocol, underpinning the XYO Network. Assume a given area has its own, self-contained mesh network. Within that network all of the XYO Network edge nodes, essentially permissionless geospatial hardware operated by Geominers. Smartphones running the XYO app (also considered to be Sentinels), in the hands of people across the area, then serve as the nodes or endpoints. The connections between them, and the data transferred back and forth are invisible. Each of these nodes can communicate and verify location, resulting in what we have named “geo-mining,” and this geo-mining delivers XYO tokens for users.
Any user within the mesh network can participate, yet the challenges remain: What happens if a user is in a small town or remote location, miles from a network? How can we link these numerous, self-contained, geographically dispersed mesh networks? How can a person with a sentinel in Tennessee communicate with a person with a geo-mining kit in France? The answer to all of these questions lies in satellites and space.
PHASE TWO – PARTNERSHIP WITH SPACEFLIGHT FOR A SPACEX FALCON 9 LAUNCH
For Phase Two, XYO Network will launch its own custom satellite with Spaceflight aboard a SpaceX Falcon 9 in late 2019, on SpaceX CRS-19. XYO will send its first satellite, named the “EtherX,” into orbit, in a nod to the “Ethereum” blockchain platform.
- XYO Network to Launch of Blockchain Satellite on SpaceX Falcon 9 – December 11, 2018
- Algo Capital to Invest In Promising Companies Built on Algorand Platform – Announces $100 Million Blockchain Fund – December 11, 2018
- Stackr Taps into AI For Investment Solutions to Power a New Savings Solution – December 11, 2018
- Walt Disney Company Cuts Deal with Blockchain-fueled PlayGame.com to Bring Games to Southeast Asian Fans – December 11, 2018
- Huobi Releases New Derivative Market On Huobi Global – December 11, 2018
- Ledger Expands to New York City – November 26, 2018
- Genetics Prof. David Haymer Joins DNAtix Advisory Board – November 12, 2018
- Libra Announces Commitment to Support Circle Trade’s Financial Reporting Requirements – November 10, 2018
- Evident Proof, Leading Blockchain Immutable Proof Platform Accept Dash & XRP As Business Adoption Soars – November 10, 2018
- Ethereum Now On Hyperledger Fabric – October 28, 2018
- 8000+ Expected – Blockchain Expo North America Exhibition Announces Expert Speakers – October 26, 2018
- Enjin Smart Wallet Update Will Allow Users To Melt & Send ERC-1155 Tokens – October 26, 2018
- Crypto-Friendly Gallery HOFA Launches in Los Angeles With Qvantum Exhibition – October 26, 2018
- Blockchain Company WePower Announces Plans to Tokenize Estonian Power Grid – October 25, 2018
- Overstock’s Medici Ventures, Buys into Crypto Social Network, Minds – October 24, 2018
- Xfinite to release new Blockchain content platform – October 24, 2018
- Omnitude set to transform enterprise business with the move of its ECOM token to Stellar and the introduction of micropayments to users – October 24, 2018
- Nem, Proximax, And Pundi X Join Growing List Of Sportsfix Sponsor Partners – October 23, 2018
- NEM Foundation’s Founder Lon Wong Becomes SportsFix Chief Technology Advisor – October 10, 2018
- Medici Ventures Backs Wine Blockchain Project VinX – October 4, 2018