Walkthrough #3 – The Event Log

By: Geeq

This video shows routine block-writing using Geeq’s Proof of Honesty in our Simulator v0.1.


Why is Geeq’s Protocol Important? The Problem We Solve.

Unlike Proof of Work (PoW), Proof of Honesty is a leaderless protocol whose security does not depend on the decisions of miners. All Proof of Stake (PoS) protocols are similar to Proof of Work in the sense they require validators to have significant “skin in the game”.

As a result, it is clear PoW and PoS protocols employ a defensive strategy as their first “layer of security” against attacks on their blockchains. These are strategies that depend on miners-stakers-nodes-validators’ decisions to secure the chains based on what they have at risk versus their own returns. As their last line of defense, PoW and PoS security models depend on a broader group’s decision-making – a situation that inevitably provides incentives for participants to consolidate power in order to ensure their own objectives will prevail. At both levels of decision-making, you and/or those with whom you wish to transact may or may not be included, which is a concern.

What is Special about Geeq

Geeq’s Proof of Honesty is a completely unique validation protocol for a new kind of blockchain. It eliminates increasing returns to power to those who work inside the network because all nodes are treated equally. Each node’s work is held to the same, rigorous, and ungameable standard of logically correct validation, contained in a chain’s Genesis Block and signed by Geeq Corp.

As a result, it does not matter if any group of nodes or validators have interests separate from your own. By construction, they have no way to change the rules for the way those data are validated on that chain; Proof of Honesty’s uniquely formulated protocol cuts off those attack vectors.

What to Look for In the Event Log

The Event Log in this video shows you how quickly and efficiently Proof of Honesty’s network generates the messages required to construct a block. If (when) you read through the Event Log of Simulator v0.1 yourself, you will see what has been elaborated above: every node’s messages are treated in exactly the same way, without favor.

If you allow the Simulator to run long enough for malicious node behavior to appear, you will see that Proof of Honesty’s code automatically gives you protection as an individual, without subjecting you to the decisions of others. That is because each node’s work is evaluated according to the same exact standard. A node is either keeping the records that were correctly validated and thus honest and trustworthy, or it is not, and the behavior is detectable either way. That is what makes Geeq’s databases uniquely dependable and useful.

Each time the testing framework is refreshed, all accounts are reset, the code runs anew, and the blocks, the Current Ledger States, and the account balances are open for the technical audience to track the results for themselves. Once Geeq’s own digital wallet is completed with a user client, the honesty of the nodes will be conveyed in a much easier and user-friendly way.

Enjoy!

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