- Approval recognizes Geeq’s breakthrough in trust-minimized security and scalability
- Separates Geeq’s minimalist layer-zero infrastructure from predominant layer-one systems using proof of work or proof of stake
Waterloo, Ontario, CA, September 2022 – Blockchain innovator Geeq has achieved a patent allowance for features of its revolutionary blockchain architecture, network communications, and validation mechanisms, which provide an alternative to the scaling and security approaches of proof-of-work and proof-of-stake based layer-one incumbents. This achievement makes it possible to overcome existing barriers to blockchain adoption ranging from energy consumption to security, cost to reliability, and ushers in a new generation of blockchain-based solutions and applications.
We are delighted to have achieved this formal recognition of the Geeq difference, which clearly separates Geeq from the crowded waters of current base-layer incumbents and enables us to occupy blue ocean in the market. This marks a critical point in time for Geeq as we push forward aggressively with the development of transformative solutions for previously intractable problems, in user-friendly applications, starting with Geeq Data. This milestone adds certainty to all aspects of the project as it moves toward widespread adoption and the translation of our research to providing a new technological backbone for everyone.Geeq CEO Ric Asselstine
United States Patent Application No. 16/962,361 relates to the company’s scalable, multi-chain and computationally light approach to validating blockchain transactions. The mechanisms secure the blockchain against malicious attacks and protect against unequal influence on validation. Instead, an automatic self-auditing system and provable edge security underpin network honesty.
Geeq’s “forest of chains” approach opens the door to scaling public, private, and hybrid blockchain infrastructure. By choosing to develop a suite of in-protocol applications rather than use smart contracts for commonly demanded transactions, the end user is able to focus on what they gain rather than worry about potential exploits, complex coding dependencies, or the downstream effects of governance decisions.
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About the Geeq Project
Geeq is a user-centric blockchain solution provider. Featuring a multi-chain platform secured by a patented next-generation consensus mechanism, it radically reduces the cost of securely transacting value at scale. It is safe enough for highly valuable data, fast and cheap enough for IoT and Web3, and flexible enough for any use.
Geeq was founded by a team of expert economists and technologists who see unrealized opportunity in decentralized technology, as existing blockchains are caught in a trade-off between scalability and security. Geeq resolves the dilemma with a suite of accessible, dependable, low-cost applications that sacrifice neither trust nor capacity, unlocking blockchain’s real potential for the real world.