Crypto News

Geeq granted a US patent for the protocol’s security and scalability features

Geeq, a Canada-based blockchain company, has been granted a patent in the United States for features of its multi-blockchain, layer-zero protocol’s security and scalability systems, according to a press release. Details found in the patent’s application describe a technology termed “Proof of Honesty,” which is Geeq’s alternative to predominant proof-of-work and proof-of-stake consensus mechanisms. Additionally, Geeq alleges that its system of federated blockchains is able to ensure security and achieve “infinite scalability.” According to the patent application: “If there is at least one honest node, it will write an honest block to a valid chain. Users are able to discover honest chains and will always choose it for their transactions. Dishonest chains become orphaned.” Geeq also claims that having flexibility built into the protocol, which can create additional chains during periods of increased network activity and then merge chains when transaction volume decreases, keeps the cost of transactions more affordable as well as 99% Byzantine fault-tolerant. In the press release, Geeq CEO Ric Asselstine noted that gaining the approval of the patent “marks a critical point in time for Geeq as we push forward aggressively with the development of transformative solutions for previously intractable problems.” One of these “previously intractable problems” is the poor user experience when using blockchain technology due to the complexities of interacting with smart contracts. Geeq noted in the press release that instead of having users interact directly with smart contracts, a suite of applications that facilitate the most common types of transactions makes it so that “the end user is able to focus on what they gain rather than worry about potential exploits, complex coding dependencies, or the downstream effects of governance decisions.” In a company blog post, Geeq stated that its launch strategy would not include a private nor public beta but would instead consist of soft-launching features as they are developed and fixing bugs as they are found  — reminiscent of Telsa’s software updates that rollout new features over time or security fixes included in every iOS update. Geeq has also received funding from major players in the space such as GEM Capital, which committed $25 million in August 2022. Geeq CEO Asselstine said with this funding, the company/protocol is now “ready to bring enterprise and individuals into the metaverse and Web3.”    

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Australian Central Bank Details Active CBDC Pilot Project In Telling Whitepaper

Australians are already testing a CBDC. Surprising no one, considering the authoritarian way that the government handled the lockdowns. The jury is still out on Central Bank Digital Currencies, while some authorities see them as problematic and prone to abuse, others are running a pilot program. The Reserve Bank of Australia, the country’s Central Bank, […]

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Jail Kwon – The World’s First Educate2Earn Token Skyrocketed by 500% On News Of Arrest Warrant Against Terra’s Founder

Jail Kwon - The World’s First Educate2Earn Token Skyrocketed by 500% On News Of Arrest Warrant Against Terra's Founder

LAS VEGAS, NEVADA / SEPTEMBER 23rd, 2022 / According to information provided by the cryptocurrency monitoring company Messari, the value of a recently introduced meme coin known as Jail Kwon shot up by 500% on September 14 and reached a high of $0.00128. The fact that the South Korean authorities have issued an arrest warrant […]

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Big Eyes (BIG) to Familiarize Crypto Enthusiasts with Established Platforms, Including Solana (SOL) and FTX(FTT), and also Protect the Oceans

Big Eyes to Triumph Over Ethereum and Solana By Raising $1M in Beta Sale: On Track for $50M

Undoubtedly, the cryptocurrency space has become a part of every sector in the world, from finances to entertainment. Especially the financial system has witnessed a revolution, thanks to decentralised platforms like Solana (SOL) and FTX (FTT). These platforms have superb features that can only be understood with a meme coin like Big Eyes (BIG). Big […]

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Terra Luna Classic (LUNC) Explodes Over 82% After Binance Implements New Fee Burn System

Terra Classic (LUNC), the remnants of a former top 5 crypto project, is rallying hard on the news that Binance will be implementing a fee-burning mechanism in support of a LUNC community proposal. Terra Classic is the rebranded version of Terra (LUNA), the project that wiped out over $40 billion in market cap after essentially […]

The post Terra Luna Classic (LUNC) Explodes Over 82% After Binance Implements New Fee Burn System appeared first on The Daily Hodl.

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Ethereum’s Buterin Seeks Dogecoin’s Switch to PoS as DOGE Becomes 2nd Largest PoW Coin

Ethereum's Buterin Seeks Dogecoin's Switch to PoS as DOGE Becomes 2nd Largest PoW Coin

Vitalik Buterin, the co-founder of Ethereum, has hinted at his desire to welcome Dogecoin to the PoS community. This divulgence comes as the asset assumes the second position of the largest PoW network following Ethereum’s switch to PoS. Vitalik hopes Dogecoin and Zcash will switch to PoS soon Vitalik Buterin revealed the inclination while speaking […]