by Geeq
Feb 4, 2021

Why Are There No Miners at Geeq?

Welcome to Geeq’s level playing field.

by Geeq
Feb 2, 2021

What is Blockchain Technology?

Blockchain technology describes a class of technologies that constructs a sequentially linked database (a blockchain) that is stored, after each block is appended, as a distributed database. A distributed database means the database exists redundantly on a network of computers.

Each blockchain technology specifies its own set of protocols. Protocols define the set of rules that agents are supposed to follow when they update and store the database on their own computers. Depending on the protocol,

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by Geeq
Feb 1, 2021

When is Blockchain Useful?

There are five key criteria that make it likely that blockchain is a better approach to addressing a problem than conventional distributed data systems or a cloud-based Software-as-a-Service (SaaS) solution:

  1. The problem requires secure transfer of value, possibly in very small increments; for example, micropayments for content or web services and machine to machine markets, and person to person payments such as small charitable contributions or sharing the cost of a meal among a group of friends.

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by Geeq

What is a Blockchain?

A blockchain is an electronic ledger made up of blocks (containing groups of transactions or data) which are appended sequentially.

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.

Interested in learning more? Check out Geeq’s Glossary entry for Blockchain.

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