XL1Price

(XL1)

XL1 is the native utility token for XYO Layer One, a blockchain network developed by the XYO team. This project is specifically designed to handle and verify real-world data at a high volume, making it a specialized infrastructure for sectors like artificial intelligence, decentralized physical infrastructure networks known as DePIN, and real-world asset applications. The primary goal of the blockchain is to provide a reliable way to bring physical-world information on-chain while ensuring its origin and accuracy. The project operates using a dual-token system that separates network operations from governance and security. In this model, the original XYO token serves as the foundation for staking and governance, while the XL1 token acts as the operational fuel or workhorse of the new Layer One blockchain. XL1 is used to pay for gas fees, execute smart contracts, and facilitate decentralized applications within the ecosystem. It also serves as the reward mechanism for validators who secure the network and process transactions. Technically, XYO Layer One introduces several innovations to manage data efficiently. One of these is a consensus mechanism called Proof of Perfect, which allows the network to maintain high throughput and low latency without requiring nodes to store the entire history of the blockchain. It also leverages existing proprietary technologies like Proof of Location and Proof of Origin to cryptographically verify where data comes from and how it was created. This focus on verifiable truth is intended to help developers build applications that require trusted data feeds, such as logistics tracking, supply chain management, and geospatial services. Participants in the ecosystem interact with XL1 by using it for daily transactions or earning it through staking. Users who lock up their XYO tokens in the network's staking pools can receive XL1 as a reward. Additionally, the network includes mechanisms where a portion of transaction fees is removed from circulation, which is intended to balance the issuance of new tokens as the network grows. By separating these functions, the project aims to create a scalable environment where data-heavy applications can operate without the high costs or technical limitations often found on general-purpose blockchains. Learn more

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