By: Geeq on Jul 26, 2021
Geeq’s micropayments technology is already optimized for efficiency and high throughput. For more technical details, please listen to this episode of Geeq talks.
Geeq is a multi-chain platform. That means if one micropayments chain is expected to near capacity, another can be deployed. And another. And another. And so on.
Each Geeq chain is validated by its own permissionless network of nodes, and fees are determined by the work that is done for that chain alone.
There is no spillover in shared costs from chain to chain, and no main chain to pose a bottleneck.
If an application uses a Geeq chain that costs more for nodes to service, fees will rise because honest nodes are paid automatically for honest work. Fees for transactions at Geeq must cover nodes’ marginal costs with a little profit for the nodes and a little for Geeq.
However, Geeq’s “penny” technology has been developed to keep costs and fees exceptionally low.
Taken together, Geeq’s team has made a series of very intentional decisions to build a payments platform that enables economic activities that have never been possible before, at scale.