Investing in Geeq
With bitcoin reaching all time highs and the crypto market in full swing, lets take a moment to look at one the most interesting projects in 2020: Geeq. With Geeq’s first testnet coming soon, we believe that Geeq will be one of the defining projects of 2021.
Geeq: Blockchain to the next level
Geeq is run on a new blockchain consensus protocol called Proof of Honesty (PoH). Proof of Honestly is 99% Byzantine Fault Tolerant (BFT). BFT is the tolerance level of a network based upon their ability to nullify the efforts of malicious nodes. Older consensus protocols offer between 30–50% BFT, Geeq’s new protocol offers 99% BFT.
With network usage in the crypto space increasing, the cost to use networks is also increasing. On the Geeq platform any number of Geeqchains can be created to scale as many TPS as is required. And this can all be done while keeping the transaction costs as low as possible. A transaction can be executed at the cost 1/100th of a penny or less. But why is this needed? A wide variety of use cases need a high TPS while maintaining low cost. Internet of Things (IoT) is one of those use cases that requires this to operate on a network. A second example is the dApp market. Since 2017, more than 3000 dApps have been developed, contributing about 10 billion USD within 2019. Geeq aims to be the go-to platform for dApp development and usage.
The Geeq team is one of the most stacked teams we have seen in the crypto space as of yet. You can view the core team in the overview below, but lets not forget that the former treasurer and Senior VP of Oracle is now the treasurer of Geeq: Eric Ball. Eric ball is also co-founder of Impact VC, which recently finished an equity investment in Geeq.
Partnerships and roadmap
Ilia Maksimenka, CEO of PlasmaPay, said:
We are very impressed by Geeq and their unique technology stack. Out of the box thinking is something that blockchain requires to take it to the next level. As we strive to make the sector accessible for all, we look forward to working with Geeq on making this dream a reality.
With the concept starting in 2017, it is almost time for the Geeq platform to launch. A big development update is scheduled for this month, in which we hope to see a first glimpse of what lies ahead for us in 2021.
We at DAO Capital see a bright future for Geeq. With a big development update planned this month, one can only imagine what the Geeq team has in store for us in 2021. To grasp the full scale of Geeq’s platform and ecosystem, we suggest reading the whitepaper. And don’t forget to check out the two pending patents: GeeqOfficial Patent + Bearer and Certified Token Technology.