XYO Network Aquires LayerOne To Expand Blockchain Location of Things (LoT) Business
The technology bringing blockchain to the real world, XYO Network, has announced the purchase of geospatial blockchain company LayerOne, combining hyper-accurate relative and absolute location data on the blockchain for the very first time.
XYO Network is tied together by constantly moving nodes that operate at the intersection of the Location of Things (LoT) and blockchain vertical. However, it’s difficult to decipher location data unless an overlay map provides stationary coordinates for context. LayerOne provides the context — extraordinarily precise absolute location data from anywhere on the planet.
Between XYO’s vast cryptographic location oracle network, and LayerOne’s radical new blockchain location protocol “Quadhashes,” the fastest and most versatile storage protocol for saving locations on the blockchain, XYO will deliver robust, multi-layered, 3D-level data to decentralize blockchain apps and the Location of Things (LoT) markets.
LayerOne technology empowers XYO to fuse absolute location data with relative location data on the blockchain, bringing speed, certainty and powerful visuals to the Location of Things (LoT) market and decentralized blockchain apps (dApps)."#blockchain #xyo #geospatial $xyo
— XYO (@OfficialXYO) July 19, 2018
According to Arie Trouw, XYO Network’s co-founder and Technical Architect, on meeting the LayerOne development team XYO Network team were impressed by work LayerOne is doing with groundbreaking technology, which can deliver accurate location data down to the nanometer if necessary. Therefore XYO knew that it had to combine forces and completely shape how location works on the blockchain.
For Graham McBain, LayerOne co-founder, joining XYO was absolutely the best move for the team as both companies share the same ethos and are committed to creating an open location platform for the world.
The Future Is Bright For XYO And Layerone! Go XYO!
The LayerOne team, now rebranded XYO Sacramento, will continue to work out of the McClellan Innovation Center, a repurposed Air Force manufacturing building. The campus will serve as an educational hub for Northern California-based blockchain developers.