Proof-of-location is coming to the blockchain. On Monday, registration opens for FOAM with the token sale launching July 31.
To prepare for the launch, you can begin by registering for the Token Foundry Platform.
The Future of Proof of Location
FOAM is positioned to transform mapping, moving beyond the vulnerabilities of GPS and the limitations of other low power wire area networks.
Their protocol will allow users and autonomous agents to privately record authenticated location data at times of their choosing –and reveal their personal information at their discretion– by presenting a fraud-proof location claim.
Features of FOAM Proof of Location
- Trustless: Byzantine fault tolerant clock synchronization
- Independent: Does not rely on GPS
- Open: Anyone can utilize the network or offer utility services
- Accountable: Economics structured to ensure honest behavior, verified with fraud proofs
- Incentivized: Service providers remunerated for extending localization and verification zones
At FOAM's consensus-driven map will be just the beginning.
Proof of Location can be applied to file storage, to detemrine if data on disks are in different places. Or, Proof of Stake protocols can verify the geographic global distribution of validators. Stablecoin projects can sharpen their scope, while keeping nominal spending constant within designated geo-fenced area.
Major use cases of Proof of Location with blockchain security will take many forms, from distributed fleets of autonomous vehicles, to IoT data markets that will need to attest the data provenance. To aid these ambitions precise time and accurate location information provided by FOAM will remain key to obtaining a robust and alternative internet networks.
To fully understand FOAM's impact and expertise, read their Introduction to Proof of Location.
For more details on the token sale, read the full announcement.
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