What is XYO Geomining?
Geomining is the way XY community members can actively become a part of the XYO Network. (To learn more about what the XYO Network is, read this overview)
Geomining kits come with XYO Sentinels and a Bridge component. XYO Sentinels allow you to collect/create location data that is related to the XYO Network. The Bridge component allows you to share those collected and verified locations to the XYO Network, so they can be stored later for queries! When that information and verified location data is used in a query in the XYO Network, then you earn XYO Tokens!
A simple example of this might be the following:
Jordan wants to send her mom a birthday gift, and wants to make sure the package arrives there safely. She puts a sentinel in the box, and sends it on its way.
As it travels, the sentinel inside the box communicates with other sentinels via Bluetooth. Let’s say that you’re her mom’s neighbor, so your Sentinel helps confirm that the birthday gift arrived on her front step.
Jordan then can ask the XYO Network “Did my mom’s birthday present arrive?”, in which case she’ll need to pay some XYO Tokens to get the answer to her question.
Since your sentinel helped prove that the birthday present arrived there safely, you would be rewarded with some of the XYO Tokens that Jordan used to ask the question in the first place!
This is a very simple example, and is also an example where a regular, everyday person might be using the network. There’s also use cases where enterprises or larger businesses may want to use the XYO Network to answer location-related questions!
You can think of it as an Oracle Network that can verify that an item, thing, animal, etc has been at a certain location. (I suppose it depends on what object the person is trying to verify the location for!)
Mining Kits will allow you to have a few sentinels that can capture this valuable verified location data, and the mining kits with bridges have a bridge component that will let you send that data to the XYO Network’s Archivists (think of it like capturing some locations, and then “saving” them to a place where they can be retrieved later!)