When was XYO coin issued?

XYO's utility token incentivizes data sharing within the XYO Network, a decentralized data marketplace leveraging blockchain technology to enable device and business connections.

Nov 25, 2024 at 09:05 pm

XYO Coin: A Comprehensive Guide

Introduction

The XYO coin is a utility token that facilitates the operation of the XYO Network, a decentralized data marketplace that connects devices and businesses. By leveraging blockchain technology, XYO Network aims to incentivize data sharing, creating a valuable resource for various industries. This comprehensive guide will explore the key aspects of XYO coin, providing insights into its origin, use cases, and market performance.

Historical Timeline of XYO Coin

• 2018: XYO coin was launched through an initial coin offering (ICO) in October 2018, raising approximately $25 million.
• 2019: The XYO Network mainnet was launched, enabling the transfer and use of XYO coins within the network.
• 2020: XYO Network partnered with Chainlink to enhance the security and reliability of smart contract execution.
• 2021: The XYO Foundation was established to support the growth and development of the XYO ecosystem.
• 2022: XYO Network introduced its SentinelX hardware device, designed to improve data collection and location tracking capabilities.

Use Cases of XYO Coin

• Data Verification: XYO coin is used to reward data providers for verifying the location and authenticity of data through a consensus mechanism.
• Network Participation: XYO coin allows individuals and businesses to participate in the XYO Network by staking their coins and contributing to data collection efforts.
• Transaction Fees: XYO coin serves as the native currency for paying transaction fees within the XYO Network, facilitating data exchange and other ecosystem services.
• Governance: XYO coin holders have the ability to participate in the governance of the XYO Network by voting on proposals related to network development and parameter adjustments.
• Incentivization: XYO coin is used to incentivize participation in the XYO Network, encouraging users to contribute their data and support the ecosystem's growth.

Market Performance of XYO Coin

XYO coin has experienced significant fluctuations in its market performance since its launch. Here is an overview of its market performance over the last year:

• Market capitalization: The market capitalization of XYO coin has ranged from $20 million to $60 million in the last year, indicating significant volatility.
• Trading volume: The daily trading volume of XYO coin has varied from $500,000 to $2 million, showing fluctuating market activity.
• Price: The price of XYO coin has moved within a range of $0.03 to $0.08 in the last year, reflecting the speculative nature of the cryptocurrency market.

It is essential to note that the cryptocurrency market is inherently unpredictable, and the value of XYO coin can fluctuate significantly over time, influenced by various factors such as market sentiment, regulatory developments, and technological advancements.

Conclusion

XYO coin plays a crucial role within the XYO Network, incentivizing data sharing and facilitating the development of a decentralized data marketplace. Its use cases, market performance, and historical timeline provide insights into the evolution and potential of the XYO ecosystem. As the demand for location-based data continues to grow, XYO coin may gain further recognition and adoption.