GeoDB - Your Data Has a Price To.
What Is GeoDB?
GeoDB is a project located on Binance Smart Chain (BSC) with their native token GEO. Today all know that google, your internet provider, governments and agencies collect information about you. What you search of, what videos you look at, which email provider are you using all these things are called data. Data is a term that we can connect to information, data is the traces you left behind while using internet and this data is price worthy information for the buyers.
Your data is information for the buyer of it, data is one main key to get good profits for the buyer and user of it or it could just be information for some research project. Your Data = information has deterrent purposes depending on the buyer. Instead of giving your data away for free you can use GeoDB and get paid in GEO tokens for your data (information).
GeoDB How Is It Working?
GeoDB is a decentralized peer-to-peer data sharing ecosystem powered by blockchain technology. The blockchain technology is one of many things GeoDB are utilizing as an advantage to make data sharing peer-to-peer faster, easier and more rewarding for the both the the creator of that data and the buyer of it. So except for blockchain technology what are GeoDB utilizing more one thing is DLT (Decentralized Ledger Technologies). Both blockchain and DLT are steps in a decentralized way of living, just as GeoDB and it's user wants.
GeoDB is a project with DeFi solutions to, as for now can you use GEO tokens as a part of a liquidity pair and the only DEX offering this solution for GEO are Uniswap at the moment. To make it easy to understand the whole concept of GeoDB you could say that GeoDB offers a solution for the seller and buyer of data to interact directly and for this, GeoDB are utilizing new decentralized technology. No middleman are needed in this context anymore.
How To Use GeoDB?
GeoDB has a app, the app is used as the collector of your data. The app shows you how much GEO tokens you have received for your data and acts as a platform for you. It's a simple app to set up and even the rookie will find it easy. The infrastructure is simple, easy and quick. You can easy redeem your GEO rewards in the app but you will need some BNB to process the transaction of your GEO tokens to your BSC wallet address. For that you'll need to send some BNB (Smart chain) to the wallet built-in to the app.
Token Information
GEO is an ERC-777 utility tokens, is backward compatible with ERC-20 standard and GEO tokens can for that reason be used as a DeFi token and included smart contracts on ETH blockchain. As told above you redeem your GEO to BSC and not to ETH mainnet even doh it's a ERC-777 tokens. This solution has a simple answer, to get the transfer of GEO tokens from the app as cheap as possible. Using ETH blockchain as a transfer method for GEO tokens wouldn't be financially justified for the persons generating the data for GEOs.
On BSC the tokens is named BGEO and you can transfer BGEO to ETH mainnet and back using a bridge from GeoDB. If you want to swap or buy GEO you're able to do that on Uniswap, Bitforex, 1inch and Fatbtc.
ODIN - Governance token
Odin is a governance token and I'll not talk a lot of it. If you hold ODIN tokens you'll be able to vote on proposals and stake it for certain % of ARP and ODIN is the token that secure the network.
If you feel about trying GeoDB out and start earn some GEO tokens, I would be happy if you used my referral code: RALLE_QABF7J
Thank you for reading and all support!
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