Secure, Flexible, Truly Decentralized Blockchain
The Problem: Blockchains that don’t Work
Security: Proof of Work (PoW) protocols are only 50% Byzantine Fault Tolerance (BFT). Proof of Stake (PoS), and Directed Acyclic Graph (DAG) approaches are only 33% BFT.
Scalability: Limited TPS and competition for computation, storage, and bandwidth between users.
Centralization: A single mother chain or validator set, governance through a foundation or committee, central points of trust or failure.
Cost: High transactions fees or large resource costs imposed on users to validate transactions.
The Solution: GeeqChain
Security: Geeq’s Proof of Honesty (PoH) consensus protocol is 99% BFT.
- PoH is not vulnerable to attacks by centralized mining pools, groups of wealthy stakeholders, or even hostile state actors.
- PoH does not depend on an honest majority of validators or miners.
- PoH moves security to the edge; users can protect themselves and do not depend on the good behavior of centralized networks of validators.
Scalability: Geeq is a secure ecosystem of independent but interoperable blockchains.
- Unlimited scalability built into the ecosystem by design.
- Local Area Blockchains can be established on an ad hoc basis for any purpose with whatever features the use case requires.
- Each instance of GeeqChain has its own separate, flexible, independently customizable, application and validation layers.
Decentralization: A network of networks.
- GeeqChains each have their own independent network of validators. No need for applications to share computational resources or transaction space in blocks.
- Decentralized, edge-based security model.
- No main chain, no side chains, no lightning networks. All GeeqChains are created equal.
Cost: Transactions cost of less than $.0001 (1/100th of a cent). Minimal environmental cost.
- Micropayments of one penny can be made at a transactions cost of 1% or less.
- IoT devices can create hourly records on GeeqChain for less than $.90 per year, and minutely records for less than $50 per year.
- GeeqChain opens up a whole world of new possibilities for applications with high volumes of transactions having low individual worth.
The Value: Blockchain that Solves Real Problems
IoT: Billions of connected devices need a secure, cheap, immutable way to record telemetry and data to create accountability, improve functionality, protect against liability, and allow provable auditability.
Disintermediation: Geeq micropayments allow streaming payments for content and services and make possible the creation of a wide variety of decentralized two-sided person to person, and machine to machine markets.
FinTech: Secure tokenization of stocks, bonds, and other financial instruments.
Transparency: Certified, immutable, public records, legal filing, and chain of custody
Distributed Business Process: Real estate, logistics, provenance, insurance, settlement, and other applications can be custom built on Geeq’s secure, interoperable, federated platform.
Inflexible, high cost, non-scalable blockchain has limited value.
Insecure blockchain has no value at all.
The Geeq Project allows blockchain to be all it was meant to be.
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