What does Canonical mean?
Accepted as authoritative. In some mathematics, canonical is more strictly defined as a unique way of representing an object without any arbitrary choices.
There are many terms used in blockchain that are problematic because the field does not use them in a consistent way. Canonical is one of these. We discuss its common definition and then define it more strictly, as used in Geeq’s Technical Paper.
The primary economic value of a blockchain is to provide a dependable data set that is acceptable to all parties who wish to coordinate on some, but not all, dimensions with each other and do not wish to trust a third party.
A necessary condition for a blockchain database to be useful is that all parties accept the same data as canonical (authoritative). Otherwise, there would not be a mutually understood information set upon which the parties could act.
Removing uncertainty about which information has, is, and will be generated properly by a decentralized system is the key to removing dependence on centralized authorities.
The Problem with Most Blockchain Technologies.
The essential problem with other blockchain technologies is that those protocols permit different results, which injects a very real element of uncertainty. What if there has to be an appeal to humans and they decide to “rollback” the blockchain? Users of such blockchains have not insulated themselves from the decisions of authorities. They have only achieved a few more degrees of separation from a different kind of intermediary.
The Meaning of a Canonical Blockchain Using Proof of Honesty.
Using Geeq’s Proof of Honesty, the rules for your decentralized blockchain are satisfied in exactly one way. Furthermore, these rules are completely consistent across time. In other words, a Geeq canonical blockchain is defined in the more mathematical sense: it is unique.
Used in a Sentence
For maximum economic value, a decentralized blockchain technology should produce a uniquely canonical and identifiable blockchain that is dependably neutral, stable in the protocol rules, and removes the risk of being exposed to the decisions of an external authority.
Last Updated: March 21, 2021
Read what Geeq has to say about Canonical...
The following articles are written by the Geeq team to share and inform about the industry we are passionate about.
To learn more about events, announcements and learn about other topics visit our news section
Choose Geeq as your favorite to win "Best in Class". Here are 5 reasons why Geeq is poised to set the world's standards in blockchain.
How to checkout from geeqout.com with a gift code?
UPDATE: Now with links to video and Slides! John P. Conley introduced Geeq's Algorithmic Monetary Policy and Stabilized Token to the public at SFBW.
This is the Geeq token allocation and release schedule. Please note: Geeq did not hold an ICO or IDO.
Ask Me Anything on Telegram: TH 1/24/2019, 4 pm EST
Details are available for the official GEEQ contract address.
$GEEQ has partnered with Ferrum Network to offer non-custodial liquidity staking. Watch this space!
Late Friday Update for Geeq Tokens - The Unlocked-round is fully subscribed. The Pre-round is still OPEN.
An update about the events over the weekend in the AscendEX hack and the changes we are implementing for the web staking we are offering today.
Find all our token and staking announcements and FAQs from the Token tab of the top menu.
Don't Trust. Always Verify. Your security is important to us. Here's where to find us @GeeqOfficial.