Thread by @Altcoin_Gold

Are you a #crypto $GEEQ? Then you'll be sure to love this detailed deep dive into what @GeeqOfficial is and how it works.

Let's get learning! 👇 #altcoins #geeq

Introduction to $GEEQ

The objective of Geeq is to take public blockchain to the next level by introducing a new consensus mechanism called Proof-of-Honesty (PoH). This consensus mechanism is 99% Byzantine Fault Tolerant (BFT) and gives Geeq Strategically Provable Security (SPS).

The platform's interoperable, multi-chain architecture allows for geeqchains to be customized and optimized for a variety of use cases.

Additionally, the flexible application layer can be designed to suit almost any business logic and have its own native tokens and data types, which can be shared with affiliated geeqchain instances or kept on the originated instance.

The validation layer is entirely separate from the application layer, with each geeqchain having an independent validation network.

What is Geeq?

Geeq is an instance of a geeqchain in any blockchain that uses Geeq's validation protocols and architecture. The Geeq Platform is made up of separate but interoperable blockchains. Geeqchains are an extension of their own genesis block, guaranteeing security integrity.

The genesis block (block 0) is the starting point for each instance of a geeqchain. Genesis blocks are created at the request of developers who wish to build apps on Geeq.

The genesis block helps geeqchains in several ways, such as preventing duplication of chain and token names, ensuring adherence to Geeq's protocols for transaction verification, and fixing the rules of the geeqchain's operations.

Geeq operates on the principle of 'code is law', which aims to increase the immutability and trust of the blockchain by forbidding alteration. Once a genesis block is created, neither Geeq nor anyone else can alter it. Once launched, each geeqchain has a life of its own.

$GEEQ upgrade Path:

Blockchains and dApps often need to evolve and change over time due to factors such as bugs, hacks, upgrades, and quantum computing. Imposing hard forks on unwilling users breaks the confidence in the platform.

Geeq's multi-chain architecture solves this problem by creating a new instance to replace the old one. The new chain would have a new genesis block with a new set of validators, validation and application code, but no tokens.

Additionally, Geeq allows for the creation of new quantum-ready instances of existing chains and applications for users to migrate to.

Architecture of $GEEQ

Geeqchains consist of two entirely separate blockchains and ledgers, maintained in parallel by the same network of validating nodes. This approach allows Geeq to be flexible and adaptable without sacrificing security.

Geeq's validation layer contains only $GEEQ accounts and manages basic token transactions between users as well as fee payments to node operators.

Geeq's application layer is customizable to support business logic, smart contracts, dApps, native tokens, and specialized data items. Geeq uses a hub and spoke structure, which transmits the minimal set of messages possible, quickening the speed of reach to the entire network.

Each node serves as a hub for one block, and then passes the job to the next node in line.

In summary, the $Geeq ecosystem has no master-chain nor any central point of failure. #Geeq is a permissionless, public blockchain platform validated by anonymous nodes that can join or leave any given validation network at will.

Each instance of a geeqchain has its own independent set of validating nodes and maintains validation and application layers with separate blockchains.

Any number of instances of geeqchain can be created, allowing the whole ecosystem to scale to handle as many transactions per second as needed.

Geeq is a network of networks forming an ecosystem of interoperable blockchains. $GEEQ tokens can be freely transferred across all chains in the ecosystem, and applications can be designed to interoperate as needed.

Building and Validating Geeqchains

In order to understand the workflow of Geeq, it is important to understand the process of building and validating geeqchains. A user chooses a validator node of the preferred geeqchain and sends a transaction request to the node.

The validator node then checks the request against the rules of the geeqchain, and if the request is valid, it is broadcast to the network for validation.

The network of validating nodes then votes on the request, and if a majority of the nodes agree that the request is valid, it is added to the blockchain.

One key aspect of Geeq is the use of anonymous validating nodes. This allows for a decentralized and more secure validation process, as there is no central point of failure.

Additionally, validating nodes can join or leave the network at will, further increasing the security of the platform.

In conclusion, Geeq aims to take public blockchain to the next level by introducing a new consensus mechanism, Proof-of-Honesty (PoH), and an interoperable, multi-chain architecture.

This allows for geeqchains to be customized and optimized for a variety of use cases while maintaining a high level of security. Geeq's use of anonymous validating nodes and the ability to easily upgrade and migrate to new instances further strengthen the platform.

Geeq's unique approach to blockchain technology has the potential to revolutionize the industry.

$GEEQ Data

Geeq Data is a powerful decentralized application that leverages the security and reliability of Geeq Chain to simplify decision-making processes. The unique selling point of Geeq Data is its ability to provide decision-makers with the means to make informed choices with ease.

This dApp utilizes Geeq Chain to construct a blockchain database as entries are validated on chain, enabling decision-makers to confirm that they are on the same page and take action accordingly.

Geeq Data also offers verifiable authenticity, which can help save time and effort when it comes to coordination and verification.

To unlock the full potential of data, it is essential that it is easily accessible. Many organizations struggle to tap into the value of their data due to siloed systems and structures.

Geeq Data provides businesses with a solution to this problem by allowing them to gain a comprehensive view across all business divisions, departments, and data structures without the need to consolidate their data infrastructure or switch to new systems.

This way, Geeq Data empowers organizations to fully harness the value of their data, without the need for costly and time-consuming data migrations.

$GEEQ token Economics
Current stats:
3.266M MC
35.5M Circulating supply
100M Total supply.

Majority of the unissued supply is for this purpose as quoted from their site 'may be distributed at the discretion of the corporate entity following board approval.

Distribution is primarily for institutional buyers, liquidity providers, business development, community and staking initiatives. All releases will be well communicated before any releases of this allocation.

If you want more detailed information on tokenomics, check out this link - Tokenomics 2023 • Geeq geeq.io/tokenomics-202…

Further information on token economics -

Geeq has designed an Algorithmic Monetary Policy (AMP) to allow supply and demand to drive the value of the $GEEQ token. The AMP slowly increases the token supply as the $GEEQ price rises, to generate a reserve fund to support the token price.

This creates an inflationary effect on token supply in bull markets, and creates a deflationary effect during bear markets through token buybacks and removal from the circulating supply.

It is important to note that this is not a guarantee that the price will never fall, nor does it prevent a price increase.

Geeq's Use Cases

The $GEEQ token is a purely transactional cryptocurrency. Its primary use is to pay the validation networks for their services and allow validators to stake GBBs.

Geeq's 99% BFT, SPS, stabilized-token AMP, and low transaction fees make it ideally suited for the following areas: payments, escrows, remittances, tokenization.

Additionally, being infinitely scalable due to its multi-chain architecture, low transaction cost, and customizability due to its separate app layer, Geeq can empower certain apps in different areas such as IoT, compliance & liability, transparency & accountability, micropayments

Geeq's Business Model:

Geeq's business model consists of two main categories: transaction costs and services.

Transaction Costs: Geeq's basic business model is to charge users a fee equivalent to three times the costs of computational resources needed to process transactions. Two-thirds of the fees are used to pay nodes and the remaining is paid to Geeq.

Both nodes and Geeq receive a net profit to cover network operation costs.

Services: Ten percent of new token revenue from the AMP will be set aside to support Geeq developers and foster the community.

This helps to build a larger community that is building apps and experimenting with Geeq's technology, which in turn will quicken the apparent benefits of Geeq.

Additionally, Geeq will also write its own turn-key applications that can be customized for use by enterprises, businesses, and other organizations.

The $GEEQ team:
$GEEQ has a large team of gigabrains running the show. There's too many to include here so I will link to their page about them if you're interested geeq.io/about/

Where to buy?
All exchanges $GEEQ is listed on are visible on the graphic below.

My thoughts -

Overall, I believe Geeq is a promising project with a unique approach to blockchain technology. The introduction of Proof-of-Honesty (PoH) and the interoperable, multi-chain architecture allows for high flexibility and customizability while maintaining security.

The ability to easily upgrade and migrate to new instances without imposing hard forks on unwilling users also strengthens the platform.

The token economics and business model also seem well thought out, with an Algorithmic Monetary Policy (AMP) in place to drive token value and a focus on transaction costs and services.

Overall, Geeq has the potential to revolutionize the blockchain industry with its unique approach

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