Blockchain? Doesn’t That Use A Ton Of Electricity And Require Expensive Equipment? – Not Geode!
Some blockchains use a lot of electricity and that is a cause for concern. That’s why we based Geode on a method called Nominated Proof of Stake. Nominated Proof of Stake blockchains use 99% less electricity than Proof of Work blockchains. Because we use Nominated Proof of Stake, users can participate with their own laptops, desktops, and even their phones. No expensive or specialized extra equipment is needed.
What Is Geode And Why Should You Use It?
The Geode Blockchain Network is a decentralized platform and ecosystem of apps for the builders, the makers, and the creative minds of all kinds:
| Engineers Scientists Researchers Tech Developers Mathematicians | Artists Musicians Designers Writers Podcasters | Producers Fandoms Educators Businesses Contractors |
Geode is on a mission to measure the extrinsic and intrinsic value of what real people make and do every day and to return that value to those same users.
We want users to profit from their own time and attention and creativity without any middleman taking a big piece of the revenue.
Blockchain and smart contracts to the rescue! Geode blockchain applications offer the ability to register unique intellectual property and track scientific and creative works of all kinds. More than that, Geode offers the opportunity for more direct licensing, distribution and propagation of that IP and productivity to consumers and collaborators, and automated incentives to find and share the best undiscovered gems.
Here are some specific use cases that the Geode blockchain will be hosting as they are developed…
Life & Work
The Life and Work app offers users a way to register their intellectual property to the blockchain and for others to endorse the authenticity of that claim. Life and Work also offers a way for users to register the things you might find in your resume to the blockchain and have those endorsed for authenticity as well. See more on these two parts of Life And Work below…
Register Original IP
Geode makes it possible for engineers, scientists, musicians, artists and other creators to register their unique IP to the blockchain for an immutable timestamp and hash of the content that can prove the original state of their work. Once they have that claim in the system, a separate app will let users offer downloads of their work to anyone for free or for a price. They can even offer incentives to their patrons and customers to spread the word through a mechanism we call Xeno’s Incentive that gives early discovery and early adoption an edge, encouraging users to find the undiscovered gems and share them. Automation of these types of distribution and royalty systems is perfectly suited to blockchain and smart contracts.
A Resume Revolution
Your resume is just a list of all the expertise you have picked up along the way from jobs, personal projects, acts of service, and educational milestones. What if you could record your expertise, experience, projects and educational milestones to the blockchain and have it endorsed by your school, coworkers, customers, and others? Imagine if the keywords from each of your experiences and projects formed a simple but surprisingly accurate view of your expertise? Understanding the whole picture of what you have accomplished personally and professionally over the course of your life is the key to replacing that key person with someone very similar or to finding the perfect collaborator or freelancer with just the right combination of perspectives.
Future Use Cases – Social, Private Messaging, Marketplace and more!
Our ideas don’t stop with the initial release. For future upgrades to the Geode Application Ecosystem, we are already developing applications that let you:
- Post publicly on the blockchain, follow and unfollow, and reply to social media posts publicly
- Get paid directly for your time and attention to paid posts
- Incentivize your ideal market directly for looking your public and private ads and responding
- Privately message with other accounts
- Get paid directly for your time and attention to paid private messages
- Buy and sell products and services of all kinds in the Geode Marketplace
- Incentivize People Directly For Responding To Surveys
- Offer Temporal NFTs Like Art That Changes Over Time or Event Tickets That Become Memberships and Discounts
- … and we are just getting started!
How Does Geode Work?
The Geode Blockchain is fully decentralized and governed by its users who propose how to spend the treasury, when to update the code, and other important actions. Some Geode users run validator nodes and nominate each other to produce blocks, keeping the underlying node architecture secure and running smoothly.
The Geode Blockchain is built on Substrate, open source, audited, stable and well thought out code that removes a number of vulnerabilities and challenges seen in previous blockchain architectures. Substrate is a modular system of pallets written in Rust. It offers the security of the Rust programming language (no memory leaks!), with the ability to do forkless upgrades to the network. You can explore Substrate’s GitHub repository at this link.
Geode uses a “kitchen sink” node cloned straight from Polkadot’s Substrate repository with appropriate changes to specific constants to make it just right for Geode. Geode is using the BABE consensus algorithm and GRANDPA (Byzantine Fault Tolerant!) finality. BABE consensus is a Nominated Proof of Stake (NPoS) consensus algorithm, while the finality is handled separately through the GRANDPA pallet using a Byzantine Fault Tolerant (BFT) algorithm with an important distinction in that the algorithm can finalize several blocks at a time (see more at this Medium article). This ensures one single chain of record upon finality and a robust system to keep bad actors at bay. The baseline substrate code is so well thought out that for the Geode Blockchain, we left it unchanged other than updating appropriate constants. To customize Geode for our intended styles of applications, and to ensure smoother upgrades as time goes on, we opted to build our custom capabilities within several smart contracts using the ink! smart contracts language.
Applications on the Geode Blockchain are achieved through novel smart contracts, rather than through hard coded changes to the Substrate runtime. Smart contracts are coded in ink!, a smart contract language developed specifically for Substrate blockchains and written in Rust.