By Mark - Cryptocurrency Dealer - 19-11-2021
The XYO Network, a platform backed by decentralised blockchain technology, has recently announced that the company has expanded its nodes to 3 million. Due to XYO continuously expanding its nodes, the company has grown to become the one of the biggest blockchain networks globally. The significant number of nodes mean that the network is now strong and large enough to provide data to important businesses. The main reason for the mass growth of the network is due to the Coin mobile app. Not to be confused with cryptocurrency trading platform, Coinbase with the stock ticker COIN, the company that allows investors to buy cryptocurrency.
The Coin app is a mobile-based application that rewards its users through incentives and crypto-assets. One asset in particular that users of the Coin app can receive are XYO tokens. XYO tokens are native to the network, the platform’s users can buy XYO or earn them for staking against unique ERC-721 tokens. Users of the coin app are able to help the XYO Network when the users enter in their geospatial location data whenever they’re on the move. The geospatial data details can include anything from travelling across the globe, commuting to work, going for a daily run, or just general movement in day-to-day life.
Aside from providing users with XYO incentives, the XYO Network and Coin app can help airport companies by helping them track all luggage by utilising the 3 million nodes in the system. Not just airports, but even hospitals and even retail/e-commerce businesses can benefit from the tracking technology. Despite being rich with tracking technology to upgrade many types of businesses and healthcare, the network has yet to show any indication that it plans on utilising its services in this way.