XYO Network

XYO Network emerged in 2018 as a project aiming to collect and verify real-world data, especially location information, through distributed devices. In the project's approach, nodes such as smartphones and dedicated hardware collect data, and this data forms a data layer that blockchain applications can use.

The XYO token was issued on Ethereum and is used for data requests and participation incentives on the network. The project is known for a community model in which users earn rewards by contributing to the network through a mobile app. Over time, the XYO team has also turned to developing its own blockchain infrastructure; details of this infrastructure are set out in the project's official documents. The network's data witnessing model relies on comparing location proofs from different sources with one another.

On Lzzo.com, the XYO Network price is based on DefiLlama's US dollar reference data and is for information only. Although it sits in the layer-one blockchain category in our catalogue, the XYO token contract appears on Ethereum in CoinGecko's listings; the price reference is based on this token.