The first step in the development work for Geeq’s protocols was a proof of concept for independent node’s individual validation of standard coin transactions, including the self-audit feature of the network when the proofs provided by nodes diverge.
A browser demo was released in February 2021. Also, find out more about Geeq Pay. Being able to make and receive payments is the first hurdle for any decentralized blockchain technology-as-a-service.
Geeq’s token team handled the launch of the Geeq ERC-20 on August 6, 2020, very smoothly. Here is the information.
Name – GEEQ
Contract address – 0x6b9f031d718dded0d681c20cb754f97b3bb81b78
Decimals – 18
Etherscan link:
https://etherscan.io/token/0x6b9f031d718dded0d681c20cb754f97b3bb81b78
Please visit our Token FAQs, Token Announcements, and Web-Staking.
The next step was to show Geeq could scale to settle micropayments on-chain. Micropayments have always been a core use case for Geeq’s high-volume, low-margin, multi-chain infrastructure, built with bearer token technology from the second patent application.
The goal was to provide the digital equivalent of small change. A parent could fund a child’s purse by converting Geeq into discrete nickels and dimes. These tokens remained denominated in Geeq but, once issued,
The second step in the micropayments stage was to validate streaming payments for streaming content, by combining a blockchain, a web browser, conversion from Geeq to micropayments, and websites that would accept micropayments in order to stream video or audio files. This functionality was released to the community.
The community could simulate using $Geeq (by using a pre-loaded wallet of pretend tokens) to fund and spend micropayments, mediated by transactions to a Geeq chain.
Application transactions use a different template (data structure) than simple validation transactions. Applications are supported by a pair of simultaneously constructed Geeq chains.
An application transaction is submitted with a data payload in addition to its header. When the transaction is validated, the header is included in the validation layer block and the payload is added to a corresponding application layer block.
» Read more about: Data availability layer – parallel blocks »
Patent covering Proof of Honesty protocol, multi-chain architecture, and parallel application layer (to keep data efficiently tied to its source on-chain) and other core innovations issued and announced in May 2022.
» Read more about: 💯 Patent Awarded : Protocol, Methods, Architecture »
