COIN stands for “Collective Observation Incentive Network”!
COIN is collective for two reasons. First, it’s a community of people actively geomining around the world, and you can even sometimes see your neighbors on the map if they get to a quadtile before you! Secondly, COIN is collective because users “collect” digital assets, like XYO Tokens, using COIN.
When you geomine in COIN, sentinels observe one another in the XYO Network. Soon, our network will allow YOU to create unspoofable bound-witness interactions, which are incredibly valuable compared to simple GPS data points!
The biggest (and currently only) incentive in COIN is the digital assets you collect around the world. It’s a hugely important aspect of COIN, because incentives like this encourage users to continue playing the game, and exchanging their valuable data for digital assets!
COIN is connected to the XYO Network, which makes the app much stronger than its simple GPS counterparts. With the XYO Network, COIN can make unspoofable bound-witness interactions between network-enabled devices!