GEODNET is a decentralized global navigation network that provides precise real-time kinematic (RTK) data. This network fuels autonomous systems such as robots, drones, and AI, offering centimeter-level positioning accuracy. By leveraging blockchain technology, GEODNET aims to make high-precision positioning accessible and scalable worldwide.
The GEODNET ecosystem is powered by the GEOD token, which serves as the native utility token. Participants in the network, known as Satellite Miners, earn GEOD tokens by setting up and operating GEODNET Satellite Reference Stations. These tokens incentivize the expansion and maintenance of the network, ensuring a robust and reliable source of RTK data.
A significant aspect of the geodnet economic model is the burning of GEOD tokens. Eighty percent of GEODNET’s data revenue is used to buy back and burn GEOD tokens, which permanently reduces the token supply. This mechanism is designed to incentivize network growth and reward contributors, aligning the interests of all participants in the decentralized global navigation network.
FAQ
What is GEODNET crypto?
GEODNET Network is a type of RTK network utilizing blockchain as the base framework, with a token as an incentive method to build, expand, and maintain the network itself. Also, GEODNET Network provides cryptographic guarantees of data transmission, location servicing, and data ownership authenticity.
Is GEODNET safe to use?
The miner’s private key is stored securely within the device and used to authenticate all communication and data from the miner. Certification and data encryption secure GEODNET against obvious fake miners, simulated observation data, or use of data relayed from other base station networks.
How to make money with GEODNET?
To earn GEOD Tokens, users need to purchase a Satellite Reference Station, install and optimize it, register the station on the Console, and then connect a wallet to earn.
How accurate is GEODNET?
RTK (Real-Time Kinematic) is a satellite navigation technique that improves standard GPS accuracy from a few meters down to just a few centimeters.
How does GEODNET work?
GEODNET Network is a type of RTK network utilizing blockchain as the base framework, with a token as an incentive method to build, expand, and maintain the network itself.
What is GEODNET’s main purpose?
GEODNET’s mission is to make precision positioning accessible, global, and scalable, fueling robots, drones, and AI systems with precise RTK data.
Who are GEODNET competitors?
GEODNET’s top competitors include HERE Technologies, dConstruct, and Hypervine.
What problems does GEODNET solve?
GEODNET aims to provide a cheaper, superior service compared to incumbent businesses by employing crypto-economics to deliver precise RTK data for autonomous systems.
What is GEOD used for?
GEOD is the native utility token that is used for fees for providing GEODNET data streams and services, rewards to Space Weather Miners, and for governance.
What are the Token Reward Rules for GEODNET?
Miners installed in an empty hex are eligible for full rewards. The first station with a 98% score for 30 days earns a Location NFT and avoids rewards splitting. Staking and SuperHexes provide opportunities for additional token rewards.
What is GEO-PULSE?
GEO-PULSE is a car navigation device that, when paired with the Quest App, allows users to complete tasks to earn GEOD tokens and rewards from partner projects like IoTeX.
What percentage of Geodnet’s revenue is used to buy back and burn Geod tokens?
Eighty percent of GEODNET’s data revenue is used to buy back and burn GEOD tokens, which permanently reduces the token supply to incentivize network growth.
