By: Geeq on Feb 2, 2021
Traditionally, blockchain protocols make security assumptions that are, at best, unverifiable, such as assuming less than 1/3 of the network will be malicious. These security assumptions introduce tremendous uncertainty about the future. At worst, the many assumptions required for the security of a blockchain platform are unrealistic. In order to mitigate those risks and improve function, most subsequent work has inadvertently introduced new attack surfaces by adding complexity, rather than addressing the root problems inherent in the way they define consensus.
Geeq’s mission is simple: we put the well-being of end users first. Achieving such an idealistic goal required preparing for the worst case. Here is the breakthrough: Geeq’s technology works even when we have no idea who is in a network and what they may or may not choose to do. We know we can’t control others’ choices in a decentralized world – nor would we want to. The bottom line is this: the only thing that matters about blockchain is whether it is able to provide us a better way to organize economic activity compared to using a centralized database.
By re-examining the data that honest users will need to make decisions, rather than what network participants may want them to believe, we found a way to solve the information game by re-engineering the idea of consensus.
Simply put, Geeq’s protocol requires each node to work independently. Honest nodes are able to deliver Proof of Honesty only if they’ve arrived at the singularly honest conclusion. As a result, all honest nodes arrive at the same, provably honest blockchain on their own, and the information coordination problem is solved when users interact only with honest nodes.
Consensus, at Geeq, is the product of honesty.
Blockchains based on Proof of Work, Proof of Stake, or Proof of Authority work on the assumption that power – in terms of hash rate, financial muscle, or institutional standing – produces truth. At Geeq, we believe that only those who are truthful should be powerful.