Geon Network, a leader in Augmented Reality (AR)-enhanced location-based services, is partnering with POA Network to deliver a more robust, efficient, and secure, Geomining experience.
Geon Network created the Geon App (iOS & Android) to allow users to get paid for visiting real-world locations. The concept is based on Geons — AR objects that can be placed anywhere in the world by consumers, businesses, non-profit organizations and others. In the app, users can search for a Geon nearby and if it is close enough, they can interact with it and mine or earn Geon Coins (an in-app currency) through a process called Geomining. The longer they stay near the Geon, the more coins they get. The geomined coins can then be exchanged for various rewards at the Geon Store. This model allows businesses to attract potential customers to their locations, get their attention or even get them to perform extra tasks.
Geons can store value in the form of Geon Coins or other digital assets (collectible or loyalty tokens will be added in the future). The value can be geomined and transferred among Geon Network users, or spent at the Geon Store. Additionally, Geon creators can set extra geomining rules. For instance, they may want geominers to answer a question or complete a survey before they get the reward. At Geon Network, we believe that no single entity or corporation should have control over these processes. For this reason, we chose to implement them on a blockchain. This way we can avoid censorship, but we also enable transparency and ensure permissionless access to Geons and Geomining. On a blockchain, no one can be prevented from using our Dapp to create Geons or Geomine. More importantly, this model also allows any user to access Geons via third party Dapps that leverage the Geon smart contracts.
Lastly, with blockchain we enable decentralized, immutable, and permissionless value transfers between Geon Network users. A centralized solution is certainly possible, but lacks the advantages outlined above.
Why does Geon Network choose POA?
POA Network is an Ethereum-compatible blockchain which uses a unique consensus algorithm that provides significant benefits when compared to alternative networks. POA Network has a shorter block time resulting in faster transactions and less network congestion as well. As a result, Geon Network can leverage the POA Network blockchain to process Geomining requests faster and with a high degree of efficiency. POA Network is also connected to Ethereum mainnet via token bridges, which allow for seamless transfer of value between the two networks. A lot of developers have had success leveraging these token bridges built by POA Network and we’d like to do the same.
Another reason we went with POA Network is the fact that user wallets for this network behave the exact same way as Ethereum. By leveraging the compatibility between the two networks, users of Geon only need one public address and one private key that can be used on BOTH blockchains. Geon wants to offer a simple and easy to use experience for its users, and this feature from POA Network brings us one step closer to achieving that.
About Geon Network
Geon Network Ltd., a Gibraltar-based company, is building the Geon App and the ecosystem around it, including the recently announced Geon Store. The app provides location-based incentives. It rewards users for physical presence and other activities at real-world locations — a tool that may be invaluable for businesses aiming to use new technologies to promote their brand and draw more customers to their venues. It has reached a major milestone in February 2019 with over 30,000 user downloads, just over three months after the initial alpha release on October 27, 2018.
Download the Geon App and learn more about the Geon Network at https://www.geon.network.
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* Medium — https://medium.com/@geon
* LinkedIn — https://www.linkedin.com/company/geon-network/
- Telegram — @geon_network
About POA Network
POA Network is an Ethereum-based sidechain that offers an open-source framework for smart contracts and solves scalability, affordability, and interoperability. Using a Proof-of-Authority consensus mechanism, POA Network leverages an independent network of licensed U.S. public notaries as validators to promote security, speed, and transparent governance. POA Network has a growing ecosystem of open-source projects that deliver key solutions for the Ethereum community including an open-source full-featured block explorer BlockScout, an array of Bridges for interoperability between EVM chains, and Nifty Wallet to focus on usability of real-world applications. For more information visit poa.network.
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