Geeq™ the most secure blockchain
Geeq is a multi-blockchain platform that is scalable, inexpensive, and lightweight, it validates blockchains using Catastrophic Dis-sent Mechanism (CDM). The CDM uses anonymous actors as validators who are free to join and leave the system as they please. Geeq is secured by a new type of consensus algorithm called Proof of Honesty (POH) instead of Proof of Work (POW) or Proof of Stake (POS) to verify blocks and transactions securely. The most important aspect of Proof of Honesty validation protocol is that it provides 99% BFT (Byzantine Fault Tolerant) and promotes honest node behavior in a very unique way. What it means is that even if 99 percent of nodes are working dishonestly, the users with help from Edge Security Protocol can still identify and choose the honest nodes for their transactions, so if even one node is honest, then no tokens can be stolen from any of the conscientious users.
With blockchain as a service (BaaS) as their main theme, Geeq’s interoperable, multi-chain architecture allows Geeq to be customized and optimized for a wide variety of use cases. Geeq consists of two entirely separate layers of blockchains, a validation layer and an application layer, and both of them are maintained by the same network of validating nodes. This unique two-layered approach allows Geeq to be flexible and adaptable without sacrificing security. Geeq’s validation layer is simple and robust, it only manages basic transactions between accounts and fee payments to nodes for validating transactions. Geeq’s application layer is customizable and is suitable for business enterprises and developers to take full benefits of the decentralized blockchain technology and build things like chain of custody, peer to peer markets for content and services, IoT services, or micropayment applications while avoiding other unnecessary elements for which they have no use. Due to its multi-chain architecture and heavily customizable nature, Geeq is infinitely scalable and comes with unlimited capacity to launch and run multiple separate but interoperable blockchains. Moreover, each blockchain or Geeq starts from its own genesis block which guarantees integrity of security on the said blockchain.
$GEEQ is a utility token used to pay nodes for the validation and virtual machine services they provide to Geeq’s multi-chain ecosystem. $GEEQ is also used as a staking token for the good behavior bonds (GBB) that help ensure honest behavior by the validation network. As a purely transactional cryptocurrency, $GEEQ is also suitable for use in micropayment and other DeFi applications.
The total token supply is 100M Tokens. The initial circulating supply will be 1.56% of total supply. Geeq has raised approximately $250,000 from early investors and seed round token sales and now the goal is to raise approximately $500,000 through pre-IEO and IEO. The pre-IEO is priced at $0.18 USD and a total of 2222222 tokens are on sale, after the sale the tokens will be vested for 3 months and released in 6 rounds after the completion of the IEO. The IEO will be priced at $0.25 USD and 400000 tokens will be put up on sale, with no locking period and immediate release upon sale. The pre-IEO is ongoing and the IEO or Direct Listing will be held soon. The tokens of the Founder, Advisor, and Team totaling up to 23% will be locked for one year after IEO and then vested for another 12 months. Geeq token is an ERC20 token right now and will be swapped to Mainnet token at a later date.
An important part of Geeq’s tokenomics is it’s Algorithmic Monetary Policy (AMP) that provides users certainty about Geeq’s token supply and ties it directly to platform usage rather than unmindful speculation. It is also important to state that AMP will not go live for over a year after mainnet launch, and after reviewing the market and ecosystem, to make sure that is ready for this kind of new innovative system.
It takes a middle path between an impractical fiat pegged stable-coin and a volatile speculative coin, resulting in a stabilized token that limits the influence of speculators, decreases volatility, and creates a stable environment to support sustained adoption and usage.
The team consists of 23 people working officially for Geeq, of these 7 members are part of the strong core team that includes, Ric Asselstine and founder of Geeq, Ric has vast experience in the tech industry and built or assisted in building many successful companies, John P. Conley the Chief Economist and founder is an expert in game theory, mechanism design, mathematical economics, and public economic theory. Stephanie So, CEO and co-founder is an expert economist and policy analyst, Lun-Shin Yuen Chief Architect and co-founder is a Silicon Valley technologist and entrepreneur. Eric Ball is the Treasurer and also the co-founder of Impact Venture Capital, an early-stage technology venture firm. Hans Sundby, Head of Crypto is a crypto maximalist with 5 years of experience in the crypto market as a key Investor, CEO, Consultant, and expert in investments & crypto business development. Bridie Mitchell is the VP and a serial entrepreneur, Ian Smith the Lead Developer has a background in network and OS security and systems theory.
Geeq’s core team has always believed that there are no use cases in blockchain without security. Their new type of consensus algorithm, Proof of Honesty confirms this by being the most secure platform to date achieving 99% BFT. This is no small achievement!
Geeq has great potential to be a leading public blockchain company in the future. The platform provides the security needed for enterprise adoption, has total flexibility and provides low entry costs to customize blockchain services for all kinds of businesses, all in all, Geeq offers unsurpassed security, unbounded transaction capacity, and extreme flexibility at a very low cost.