An Altcoin associated with a decentralized physical infrastructure network (Depin) project rose on Friday by almost 44% after receiving a prominent exchange list.
On Thursday, the South Korean Crypto exchange Giant Bithumb announced It mentioned XYO, the native token of the XYO network.
The XYO network is intended to process any type of decentralized data.
Explains the project website“
“With both a network and a protocol, XYO can be used for aggregating, verifying, organizing and using decentralized data from any hardware bang that is able to perform software or firmware from XYO-compatible.
The determining starting point of XYO is decentralized verification, so that network devices can verify the data that flow into the databases of the network by acting as witnesses for each other, which enhances the truthfulness of the data received. Simple, accessible organization makes it possible for this data to be used quickly and efficiently. “
Earlier this month, the project announced It would migrate his network to a new Layer-1 chain focused on Depin. To help that movement facilitate, the XYO network also rolls out a new Layer-1 native token, XL1, and will work with a dual token model in the future.
The original XYO token stays on Ethereum (ETH) and acts as an anchor to regulate the flow of XL1 in its native blockchain, ” According to the project.
XYO acts at $ 0.0154 at the time of writing. The 278th ranked crypto assets per market capitalization has also risen by more than 71% in the past week.
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