Until now, two things have prevented dApps from truly going mainstream. The first was the inability to connect actual locations and location data to the Ethereum blockchain, restricting the types of smart contracts that can be used with dApps. The second hurdle focuses on users, who until recently, had to install tedious, third-party plugins to use dApps.
With the partnership, Portis will continue connecting dApp users to the Ethereum blockchain right from their browsers, with no download or plugin necessary. But the XYO network will deliver dynamic location data from both moving and stationary objects, greatly broadening the scope of dApp transactions.
“Location is fast becoming a critical ingredient in Ethereum Smart Contracts, especially in instances when payment is only sent when an object makes it to a specific place. As we’ve built out our blockchain location network, we’ve followed Portis and the impressive work they’ve done to make using dApps simple and straightforward,” says Markus Levin, XYO’s Co-Founder and Head of Operations. “By combining our technologies, we’re opening up a whole new world of possibilities. This is a true breakthrough for Smart Contracts, dApps, and the dApp user experience.”
Portis is equally optimistic about the partnership, and the future of dApps using the Ethereum blockchain.
“Both Portis and XYO have a common, essential goal: To bridge the gap between real world and the virtual world. Portis connects a person to the blockchain network, as XYO connects a location to the blockchain network,” says Portis Co-Creator and CEO Tom Teman. “And what better way to unleash the potential of blockchain and smart contracts on the world then by making sure the world itself can communicate back with the blockchain?”
ABOUT XYO NETWORK
XYO Network is a vast, geospatial, blockchain-powered location network that provides accurate, certainty-driven location data on everything from cars to smartphones. Using tracking devices created and sent out into the world as well as by updating existing IoT devices and mobile phones, the XYO Network ecosystem delivers the authentic, verifiable, and trusted coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of high-stakes, location-centric applications. XYO can deliver complex, multi-layered, 3D-level location data from anywhere on the planet. For more information about XYO, please visit http://xyo.network.