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This allows Geeq to provide 99% Byzantine Fault Tolerance while delivering rapid transaction finality at extremely low transactions cost. Geeq’s multi-chain architecture provides an elegant solution to this problem without violating our core principle that code is law. If a geeqchain instance is found to have bugs, is outdated, does not take advantage of new technologies, or does not meet current user requirements, a new instance may be created with the intent to replace the existing one. The new chain will have a new genesis block with a new set of validators, validators, and application code, but no tokens.

The company’s platform allows users who hold tokens on the platform to determine for themselves whether the network of validating nodes is behaving honestly, enabling clients to keep their data safe. Blocks of verified transactions are created by nodes in the network and added sequentially. Genesis blocks are created by Geeq at the request of developers who want to build applications and include all the code that will run the validation and application layers. There are several reasons for this tight control over the shape of genesis blocks.

For a blockchain to offer a viable solution to these problems, it must be secure, inexpensive, and scalable. For blockchain as a service to become a viable alternative to private databases, it must be flexible, upgradable, environmentally sustainable, and protect users from unreasonable token price volatility. What is Geeq operates a multi-blockchain platform that allows enterprise and individual users to integrate fintech, game tech, non-fungible tokens , and micropayments, among other uses. Its platform maintains fully permissioned audit trails so that stakeholders can be sure everyone is working with the same information. The firm was founded in 2017 and is based in Waterloo, Ontario. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

Limitless scalability at low transaction costs allows Geeq to use its comparative advantage in blockchain security to create several new markets, discussed in Section 6 below. The Geeq platform was designed with the following practical considerations in mind. Of course, for a blockchain to have any use, there must be agreement on the state of the ledger and the set of valid transactions that led to it. In other words, there must be a canonical ledger state that honestly reflects the canonical chain of valid blocks and transactions.

7.4 Upon your using the Service, it shall be deemed that you agree that the Platform reserves the right to liquidate any transaction at any time, regardless of whether you are suffering losses or making profits. 7.3 Upon your using the Services, it shall be deemed that you acknowledge that all transactions hereunder are final and irreversible. 5.2 Under no circumstances will hyperlinks to any page of the Web Page be created without the prior consent of the Platform. 4.1 The Platform may store your relevant data information in a database for internal use only. The Platform will not disclose your information to any third party, unless it is otherwise required by law and specifically instructed to the contrary by you. 2.2 You acknowledge that, except as otherwise agreed between the parties hereto in writing, the Web Page and all intellectual property rights therein shall remain owned by the Platform.

Multi-Blockchain Platform Geeq Receives $25M Capital Commitment From Investment Group GEM

With regard to preventing the financing of terrorism and countering money-laundering, the Platform voluntarily conducts due diligence, as appropriate, to prevent the risks of money-laundering and terrorist financing and will cooperate with local authorities. When using our Services, you confirm that your actions are legal and correct and that your digital assets and legal tender are not derived from illegal activities. The Platform may, at its discretion or in coordination with local law enforcement agencies, control, restrict or liquidate your accounts and digital assets. E) The Platform does not guarantee that the use of the Web Page will be free from disturbance or error. In addition, the operation and availability of the system used to access the Web Page, including public telephone services, computer networks and the Internet, are unpredictable and may interfere with or hinder Web Page access. The Platform assumes no responsibility for any such interference that prevents you from accessing or using the Web Page and Services.

Market cap is calculated by multiplying the asset’s circulating supply with its current price. Binance – Buy over 350 tokens in seconds with fees as low as 0% 0% FEES Spot, futures, options, NFTs, savings, staking, and Binance Card. GeeqChain opens up a whole world of new possibilities for applications with high volumes of transactions having low individual worth.

Nodes wait for transactions to arrive and then group those requests into a node transaction bundle , generate a header, and cryptographically sign the whole thing with their private keys. Blockchain can provide society with secure, uncensored and decentralized ways to interact, transact and collaborate. As a source of provable and immutable truth, the blockchain allows widely distributed agents, including machines that do not know or trust each other, to create and share value. Blockchain can even serve as a counterbalance to the growing power of governments, corporations, and other centralized authorities. The User shall bear the risks arising from using the information and content of the Web Page.

At the end of the investigation, we may, at our sole discretion, decide to close your Account for which we are not required to provide you with any reasons for the same. The total dollar value of all transactions for this asset over the past 24 hours. Inflexible, high cost, non-scalable blockchain has limited value. Geeq offers unparalleled security, unlimited transaction capacity, and exceptional flexibility at a very low cost. The problem is related to agents who may want to censor, change or hide data; for example, securities, land ownership, and financial transactions where theft and fraud are a real possibility.

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It could also be possible to create a simple (non-Turing complete) application-level scripting language, or even just code to run one particular application, if that were all the developer needed. An instance of a geeqchain is any blockchain that uses Geeq’s verification protocols and architecture . The set of all instances together form an ecosystem of separate but interacting blockchains that make up the Geeq platform. Each geeqchain extends from its own genesis block created by Geeq, which guarantees the integrity and security of the instance. Geeq is based on a new blockchain consensus protocol called Proof of Honesty. PoH claims to empowers users who hold tokens on the platform to determine for themselves whether the network of validating nodes is behaving honestly.

Blockchains are built on networks of nodes that process, validate, and store transactions. Geeq shares this foundation, but builds on it for a uniquely secure and resilient ecosystem. Geeq is a multi-blockchain platform secured by our Proof of Honesty protocol , safe enough for your most valuable data, cheap enough for IoT, and flexible enough for any use. First, there are no leaders or block proposers in the Geeq protocol. The hub coordinates block building by collecting and distributing the NTBs submitted by the nodes, but does not select a set of candidate transactions from the memory pool or elsewhere. In addition, the hub does not validate transactions in its HTB and does not offer a lock for other nodes to commit.

1.3 We may freeze any Account in the event that we suspect or have reason to believe that you are engaged in suspicious trading or an other activity or have breached any of the above warranties. This may result in the unwinding of any deal that you may have entered into by then. Whilst your account is frozen, we will conduct an investigation and may require you to cooperate with such investigation. During the investigation, you will not be able to make deposits into or withdrawals from your Account, nor will you be able to trade via your account.

Instead, each node decides for itself which transactions in the HTB it considers valid, what the next block should be, and how it should update the state of the ledger. Meanwhile, the nodes are receiving new transaction requests from users. Once each node commits its block, it creates another NTB and sends it to the node acting as the hub to coordinate the building of the next block. It may seem that this approach gives Geeq great opportunities. However, once a genesis block is created, neither Geeq nor anyone else can change it or the operation of the geeqchain instance that uses it as a basis.

On the other hand, the Geeq application layer is configurable and can support business logic, smart contracts, DApps, native tokens, and specialized data elements to suit almost any use case. For example, the application layer of a geeqchain instance can be configured to run Solidity and allow smart contracts originally written to run on Ethereum to be moved directly to Geeq. It contains only $GEEQ accounts and manages the underlying token transactions between users, as well as paying fees to nodes for their validation and virtual machine services. 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.

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9.8 The Platform has the right to decide on the termination of the free promotion period by adjusting the fee rates for depositing, withdrawing, and trading according to market conditions. 9.7 All notices sent to Users will be delivered by the Platform through official announcements on the Web Page, in-station letters, e-mails, customer service telephone calls, mobile phone messages or regular mail. For messages that are received by User by means other than the Web Page and are purported to show that the User has won any prize or preferential offers, the Platform shall not be held legally liable for such messages. 7.1 Where you or a third party provides computer equipment and the product relies on any of its features, the Platform assumes no responsibility for the timely operation of the Web Page in an Internet environment. 6.2 The Platform does not provide any guarantee for the Web Page.

• For example, the application layer of a geeqchain instance can be configured to run Solidity and allow smart contracts originally written to run on Ethereum to be moved directly to Geeq.
• It maintains fully permissioned audit trails so that stakeholders can be sure everyone is working with the same information.
• 9.3 The Platform is not responsible for the failure to save, modify, delete or store information published by the Users, or is the Platform responsible for typographical errors and omissions on the Web Page that are not intentionally caused by the Platform.
• Instead, users must trust the wisdom and good faith of those who are truly in control.
• However, once a genesis block is created, neither Geeq nor anyone else can change it or the operation of the geeqchain instance that uses it as a basis.

1.4 We reserve the right to close your Account at our sole discretion with preliminary notification to you. You will therefore withdraw your orders and close your positions as required by such notice. If you fail to withdraw your orders and close your position https://cryptolisting.org/ at the expiry of the seven-day period, we will force you to do so and return to you the remaining digital currency in your account. 1.1 The Platform reserves the right to verify your identity at any time for the purposes of complying with the relevant laws.

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Fortunately, with quantum computing approaches to breaking encryption, new quantum-resistant approaches to data encryption will emerge. Geeq’s multi-chain architecture allows for the creation of new quantum-ready instances of existing chains and applications that users can migrate to as quantum technology advances. Geeq’s products aim to address problems such as security and transaction costs to encourage mass adoption of blockchain technology. It says its platform is designed for any blockchain application, allowing enterprise and individual users to integrate fintech, game tech, non-fungible tokens and micropayments, among other uses.

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The Service Agreement and this Agreement as a whole shall constitute the entire agreement between the margin trading services of the Platform and the User (hereinafter referred to as “the parties”). The User (“you”) must comply with the Service Agreement and this Agreement and respective announcement from the Platform in using the AscendEX platform and the services provided by it (“the Services”). The user selects any node in the chain verification network that he wants to use and sends him a transaction request. The geeqchain genesis block encodes it with the ability to customize its own public hub and network of validators to suit your needs.

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG. Geeq is a multi-blockchain platform secured by Proof of Honesty protocol , safe enough for the most valuable data, cheap enough for IoT, and flexible enough for any use.

In fact, Geeqchains consist of two completely separate blockchains and ledgers that are served in parallel by the same network of validating nodes. This unique two-tier approach allows Geeq to be flexible and adaptable without sacrificing security. Bugs, hacks, updates, new features, quantum computing, etc. all make it desirable to be able to allow blockchains and DApps to evolve and change over time. When hard forks 6 are forced on unwitting or unwitting users by foundations, developers, node coalitions, or even through complex governance systems, user trust is lost and trust in the platform is undermined.

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