Home Crypto News Geeq granted a US patent for the protocol’s safety and scalability options

Geeq granted a US patent for the protocol’s safety and scalability options

by Cryptoroz


Geeq, a Canada-based blockchain firm, has been granted a patent in america for options of its multi-blockchain, layer-zero protocol’s safety and scalability techniques, based on a press launch.

Particulars discovered within the patent’s software describe a know-how termed “Proof of Honesty,” which is Geeq’s various to predominant proof-of-work and proof-of-stake consensus mechanisms. Moreover, Geeq alleges that its system of federated blockchains is ready to guarantee safety and obtain “infinite scalability.” In line with the patent software:

“If there’s no less than one trustworthy node, it’ll write an trustworthy block to a legitimate chain. Customers are in a position to uncover trustworthy chains and can at all times select it for his or her transactions. Dishonest chains grow to be orphaned.”

Geeq additionally claims that having flexibility constructed into the protocol, which may create further chains in periods of elevated community exercise after which merge chains when transaction quantity decreases, retains the price of transactions extra reasonably priced in addition to 99% Byzantine fault-tolerant.

Within the press launch, Geeq CEO Ric Asselstine famous that gaining the approval of the patent “marks a important time limit for Geeq as we push ahead aggressively with the event of transformative options for beforehand intractable issues.”

One in all these “beforehand intractable issues” is the poor person expertise when utilizing blockchain know-how because of the complexities of interacting with sensible contracts. Geeq famous within the press launch that as a substitute of getting customers work together straight with sensible contracts, a collection of functions that facilitate the most typical sorts of transactions makes it in order that “the top person is ready to give attention to what they achieve slightly than fear about potential exploits, complicated coding dependencies, or the downstream results of governance choices.”

In an organization weblog publish, Geeq acknowledged that its launch technique wouldn’t embody a personal nor public beta however would as a substitute include soft-launching options as they’re developed and fixing bugs as they’re discovered  — paying homage to Telsa’s software program updates that rollout new options over time or safety fixes included in each iOS replace.

Geeq has additionally acquired funding from main gamers within the area comparable to GEM Capital, which dedicated $25 million in August 2022. Geeq CEO Asselstine stated with this funding, the corporate/protocol is now “able to carry enterprise and people into the metaverse and Web3.”




Related Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: