XYO Network Skyrockets as Project Unleashes Dual-Token Strategy
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South Korean trading platform Bithumb announced it would list the asset, bringing fresh attention to the project.
The XYO Network is designed to handle decentralized data across a wide range of devices, using a system where hardware nodes verify each other’s information to ensure data reliability. According to its creators, the project’s goal is to make decentralized data easy to collect, validate, organize, and apply.
In addition to the new listing, the project recently revealed plans for a significant upgrade. XYO will transition to a new DePIN-focused layer-1 blockchain and introduce a second native token, XL1.
Going forward, the network will operate with a dual-token system, with XYO continuing to live on Ethereum and serving as a regulatory bridge for the flow of XL1 into the new chain.
The team behind XYO believes these changes will strengthen the network’s infrastructure and broaden its use cases, positioning it as a core player in the growing DePIN sector.
By introducing a dedicated Blockchain At its core, blockchain is a digital chain of blocks, but not in the traditional sense. These 'blocks' consist of bits of information, and when we refer to a 'block' and 'chain,' we're talking about digital data stored in a public database. Blockchain provides an innovative way to transfer information automatically and securely. A transaction begins when one party creates a block, which is then verified by thousands, even millions, of computers across the network. This decentralized ledger of financial transactions is constantly evolving, with new data continuously added. What makes blockchain tamper-proof is that each record is unique, with its own distinct history. To alter one record would require changing the entire chain of millions of other records. Blockchain is grounded in three key principles: decentralization, transparency, and immutability.
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