Geeq Penny
What does Geeq Penny mean?
A unit that is 1/100th of the value of a Geeq, the native ecosystem coin.
Main Idea:
While developing the Micropayments Testing Framework v0.2.1, a “Geeq penny” was the simplest, most intuitive way we could think of to talk about micropayments, because it conveyed the idea of a fractional unit.
Why is the Idea of a Penny Important?
When cash (fiat) is physical and people met face to face, it was extremely easy to make a cash transaction. You took out your pocket change, or your change purse, handed over the penny, nickel, dime, or quarter, and that was the end of the transaction.
The technology to do the same on blockchain has been developed by Geeq. It is our way of restoring the economy of easy, small transactions, using the Geeq token as a transactional unit of value.
Last Updated: July 31, 2021
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