SAN DIEGO--(BUSINESS WIRE)--XYO Network, the technology bringing blockchain to the real world, has purchased geospatial blockchain company LayerOne, combining hyper-accurate relative and absolute location data on the blockchain for the very first time. 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 decentralized blockchain apps and the Location of Things (LoT) markets.
“When we met the LayerOne development team and saw what they were doing with their groundbreaking technology, which can deliver accurate location data down to the nanometer if necessary, we instantly knew that we had to combine forces and completely shape how location works on the blockchain,” says Arie Trouw, XYO Network’s co-founder and Technical Architect. “We’re excited about collaborating, open-sourcing our technology, and growing this space as a whole.”
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.
“Joining XYO was absolutely the best move for our team. We share the same ethos and are committed to creating an open location platform for the world,” says Graham McBain, LayerOne co-founder. “We're excited to be working alongside such intelligent and dedicated individuals. 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.
About XYO Network
Founded in 2012, XY, the company behind the XYO Network has developed the world-class location protocols necessary to achieve the mission of building a decentralized location network. The XYO Network makes it possible for smart contracts to truly function in the real world, by using the XYO Network’s ecosystem of devices to determine if an object is at a specific XY-coordinate. When the geospatial conditions are met, as defined by the blockchain developer, applications can be developed which trigger location-reliant transactions in blockchain smart contracts. XYO can pinpoint the location of objects, from jewelry to cars securely, all in real-time. Through the XYO Token Pool, and the launch of its GAMMA Platform, XYO Network has become 2018’s most exciting blockchain project.