XYO Unveils Public Beta of Its Layer-1 Blockchain and Dual-Token System

Anna Martynova

XYO, one of the oldest decentralized physical network infrastructure projects, has announced the launch of the public beta of its native Layer-1 blockchain. XYO is moving from the Layer-2 Ethereum (ETH) ecosystem where it previously operated to a purpose-built Layer-1 blockchain designed to improve the network’s ability to process large amounts of real-time data with high throughput and low latency.

XYO’s Layer-1 blockchain introduces a new consensus mechanism called Proof of Perfect. This system allows decentralized nodes to identify the correct chain to append a block to by algorithmically ranking chain tips based on their “perfectness,” evaluating each tip’s validity, recency, and protocol alignment. This method eliminates the need to process the full chain history, improving efficiency without the use of energy-intensive consensus models.

XYO also announced a new utility token, XL1. The XYO token will continue to serve governance and staking functions, while XL1 will serve the operational needs of the network, including payment of base and gas fees for transactions and smart contract execution, priority fees, and rewards for active network participants. This structure is designed to balance long-term governance with real-time operational efficiency, offering tailored incentives for both token holders and active network participants.

Image: freepik

Designed by Freepik

Source