Geeq’s monetary policy is pre-funded, transparent, and is designed to smooth the volatility and reduce uncertainty. The policy does not, in and of itself, determine the Geeq’s market price. Instead, the Algorithmic Monetary Policy stands ready with a set of known bids and asks that all platform users can take into account when planning and conducting their business.
GeeqChain is a new approach to distributed ledger technology that uses a proprietary validation protocol called Proof of Honesty (PoH). PoH empowers users who hold tokens on any GeeqChain to determine for themselves whether the network of validating nodes is behaving honestly. This allows GeeqChain to provide 99% Byzantine Fault Tolerance (BFT) while delivering rapid transaction finality at extremely low transactions cost. An additional protocol based on economic mechanism design gives GeeqChain Strategically Provable Security (SPS).
We propose a new blockchain validation protocol called Proof of Honesty (PoH). We show that PoH produces a blockchain that is 99% Byzantine Fault Tolerant, implements honest node behavior in coalition-proof equilibrium, and provides users with edge security which allows them to prove both the honesty and canonicalness of any fork or chain they see. In addition, PoH includes a fallback recovery procedure that ensures that an honest and canonical ledger will always exist and be accessible to users with at most a short delay even if all validating nodes on the network are dishonest.
Blockchain, SSL certificates, HTTPS,
cryptocurrencies, public/private key pairs, VPNs, and many other
important technologies are all applications of two basic ideas from
cryptography: encryption and hash functions. Although they are
mathematically related, they are intended to do very different
things.
Encryption: An encrypted file might be publicly available, but without a keyof some sort, the encryption cannot be reversed and the file is unreadable. Examples of encryption algorithms include AES, DES,Blowfish, and RSA.
» Read more about: Encryption, Hashing, PPK, and Blockchain: A Simple Introduction »
