5 Things You Need to Know About Geeq

By: Geeq  on Dec 14, 2022

1. It’s the practical platform for everyone, with no smart contracts.

Geeq is blockchain for the everyday user, rather than an experts-only technology. There is no need to get to grips with new ways of working: Geeq’s API connectivity enables you to keep the same kinds of front-end user interfaces and dashboards you already use and enhance them with the most secure blockchain back end.

While smart contracts are nearly synonymous with better-known blockchains, they come with some compromises. Webs of interlinked and interdependent smart contracts lead to complex dependencies, which may cause unpredictable and unexpected results that produce a cascading effect across a network. Furthermore, a smart contract might be written for a specific task but then applied in another domain where it is less suitable, causing reliability and performance issues.

Geeq takes a different approach. We make it easy to send, receive, mint, escrow, swap, track ownership and more by building these directly into streamlined, standardized data structures, executed by protocol. In other words, Geeq has gone back to basics, stripping the complexity away and taking the time to provide logic to support any well-defined application. No smart contracts required.

2. It’s ahead of the curve with multichain architecture.

Other blockchains are struggling to improve their speed and scalability with patched-on solutions to reconcile separate components. The difficult technical problems with that approach are already being exposed. While the future is multichain, the strength of Geeq’s forest-of-chains design is the use of its secure protocol and standard transactions for every chain.          

With Geeq, there is no upper limit on the volume of transactions. Blocks on any chain are written every 10 seconds and, if an app becomes wildly popular, another chain can be launched with the exact same genesis block, to double the capacity at peak load. And on it goes.

Spinning up another chain is easy – the validation code is the same; the application functions are the same. All you need is a new network of nodes to bootstrap the new chain’s network. This is merely one way in which Geeq’s standardization pays off: you get scalability and flexibility while still having that all-important proof that every transaction in a block has been validated, according to the same, logically consistent, and unbiased set of rules.

3. Secure and provably accurate by design.

Geeq’s design makes for inherently trustworthy networks because nodes police each other automatically, as part of protocol. Geeq allows for three different node types: Geeq nodes, certified nodes and, in the case of public blockchains, anonymous nodes. Coordination between bad actors is extremely difficult for three reasons. Firstly, Geeq builds separation of powers into the core protocol. Secondly, each node separately builds its own block and must independently pass a test to prove its veracity and trustworthiness. Thirdly, there are built-in incentives to maintain correctness and audit any discrepancies. Only provably correct and reliable nodes will get paid because users will send transactions to them rather than a node who cannot provide proof that it is a good actor.

Why will users care about proof? It’s simple. Every present or future transaction will have counterparties, so any discrepancy will hurt someone who is counting on clearing a mutually agreeable trade. Viewed this way, the incentives of the nodes have been aligned completely  with their users. As real-time participants with an interest in their transactions, users will demand to see proofs of their transactions’ validity and inclusion, otherwise they may have been cheated.

Of course, Geeq has worked to make the proofs as compact and efficient as possible, with the least amount of clicks for users to find them on a block explorer or via the software in their wallet’s interface, so the check is as easy as putting a copy and paste into a search

Finally, Geeq will use a more up-to-date encryption algorithm at public launch. This is only possible because we started from scratch, whereas older blockchains face the difficulty of searching out, replacing, migrating and matching keys, node clients, and encryption with accounts, protocol versions, and smart contract code. Geeq’s software architects have thought ahead so that an entire chain may be upgraded at one time, without touching another chain, leaving the choice of migration completely up to the user.

4. Enterprise-ready blockchain for the real world.

Corporations face a lot of barriers in adopting blockchain. There is tremendous institutional resistance to change itself, which is compounded when it’s difficult to understand and believe a blockchain’s assurances. Geeqs understand; it is why we have de-risked blockchain and made it simple to use. Geeq offers security, scalability and unlimited volume at radically low costs, without the need to change anything. Geeq adds value to whatever is already working for you, while putting a safety net under your data so if something happens to your central database, you know you have a tool for recovery that has never been compromised.

Our simple deployment options put you in control. Geeq doesn’t store your files; you decide where they are located and continue to use them however you wish. Geeq’s invisible layer of  automatic, cryptographic integrity and independently neutral validation means you can be sure to find your original data as if it was flash-frozen in the state it was in. You still get to choose how much and which kinds of data to send and share.

Because the data structures that govern transactions are standardized, Geeq’s templates can be adapted for thousands of use cases. Similarly, networks can be private, public or hybrid, whatever your organization needs. Geeq provides safer, more adaptable, and more user-friendly blockchain, suitable for solving problems with supply chains, IoT, self-certification services, micropayments, verification of digital asset ownership, transfers, and more.

We understand managing changes in technology can be stressful, which is why Geeq has prioritized providing next generation services with the highest level of security and least amount of disruption. Your experts can advise you whether to keep blockchain invisible and outside your firewalls, access them minimally through an API, or use them to power any webapps you like. All of it is possible.

5. From the beginning, Geeq was designed for public participation.

Geeq was conceived to provide security and scalability in the most challenging setting imaginable: a multi-chain public environment, which we believe is what global and space infrastructure will require. Our focus, though, has always been on the people at home: to provide a safe, level playing field for the end user. It is a core part of our DNA and vision for Web3.

Our protocol de-risks blockchain to tackle the transactions and data handling that are a part of busy users’ everyday lives. We have put crypto speculation to the side in order to focus on utility. Exploits of smart contracts or bridges aren’t even a factor: Geeq has invented the most secure swaps (on-chain trades) in the space.

We’ve also witnessed pent-up demand from enterprises for easier to adopt ways to incorporate NFTs and fungible tokens. Geeq’s standardized transactions and built-in data structures satisfy these needs exactly.  Finally, Geeq’s multi-chain platform support private, public, and hybrid configurations for a reason. Different users desire different levels of privacy, from transparency within an enterprise only, to permissioned sharing with regulators, to complete visibility for the public.

We are excited to work with enterprise partners to address their specific needs. It is an ideal way to perfect Geeq ahead of public release. We can polish features, test them in real time, gather feedback, and iterate. This helps us to build our market, generate demand, and spread awareness for the public role of the $GEEQ token. Everything is working according to plan.

We know many of you have questions about how the $GEEQ token will work when the public chain(s) are live, so let’s answer them.

– What incentive does the public have to run nodes? 

Geeq’s protocol is innovative because it automatically pays nodes – but only if their individual validation is correct. Geeq nodes are paid twice the marginal costs of their services, and have incentives to prove their blockchains are correct and up to date because they will get traffic. Users, in the meantime, benefit from more certainty about fees and from efficient markets for chains and nodes. Everyone wins.

– Cool! When can I run a public node and start earning GEEQ? 

History has shown it makes sense to launch public chains with some central control, in order to make adjustments without having to coordinate across anonymous nodes. However, once that period ends, the fact that Geeq’s protocol requires each node to build its own provably correct blockchain means there is no special value for centralization. The market for network participants will be able to sustain a competitive market by coding free entry and exit in the genesis block, with quality assured because every node is held to the same standard of proof for the end user.

– And what does that mean for the token swap?

Once the network is fully public, holders of the ERC-20 token will be able to swap their tokens for native GEEQ. The ERC-20 token will continue to be used for some time after the token swap as the Geeq platform grows, ensuring it has inherent utility.

– But what about tokenomics?

Geeq’s tokenomics were thought through from the beginning, and the distribution is exactly the same as originally specified.  Moreover, we’ve doubled down on our commitment to build until $GEEQ fulfills its role for the public. The founders and advisers have agreed that their tokens are locked until Geeq launches its public chain(s). Geeq has a mission; we’re building the technological backbone for a better economy. For everyone.

Thanks for reading! And please share this article with anyone who would like a quick overview of Geeq.

– The Geeq Team