COIN is a mobile app enabling over tens of thousands of users per day to earn "COIN" for validating geospatial location data when traveling, commuting, jogging or moving about the real world. Once you have collected your in-app "COIN", you can redeem it for physical merchandise, or you can redeem as a tradeable digital asset.
The COIN App can be paired with a Sentinel eXtension device to increase the value of provided geospatial data, and allow users to earn more rewards. Both devices provide the same rewards boost, with some difference in shape, design, and use.
A sleek Bluetooth Low Energy device with a replaceable battery. Perfect to hang on keychains and receive constant COIN reward boosts.
A slender Near-Field Communications card that can be tapped for a COIN rewards boost. No battery required, waterproof, and perfect as a handy wallet device.
The COIN App uses XYO's current fingerprinting technology to prove that a user was in a location they claim to be. It helps avoid location spoofing in the app, and protects COIN from bad users who wish to fake their location to earn more digital assets than they should be earning.
The app also contributes data anonymously to XYO Network's open-source, allowing each of its users to participate safely and easily.
Increasing Data Value
While massive amounts of geospatial data has an inherent value, XYO and Sentinel eXtension devices increase the value of that data by increasing its certainty. More validation means more value, and ultimately, more user rewards.
Spoofing can reduce the value of hard-earned digital assets and discourage honest players from playing the game. XYO helps ensure a user doesn't cheat the game, or make the game less fun for others.
COIN App relies on a detailed and algorithmic digital asset economy. XYO's technology helps COIN's economy remain stable and secure, and the XYO Token serves as an easy way for COIN users to interact with blockchain tokens and cryptocurrencies.