Geon Network accelerates its GEON ÐApp by teaming up with POA Network
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 to provide significant benefits over alternative networks. Shorter block times result in faster transactions and less network congestion. The Geon coin is an ERC20 deployed directly to the POA Network, which allows for fast and efficient processing of all Geomining requests.
POA Network’s user wallets behave exactly the same as other Ethereum based wallets, where one public address and private key can be used across networks. This will allow the Geon Network to leverage mulit-network compatibility in the future. Geon is committed to offering a simple, frictionless user experience, and POA Network provides the infrastructure to make this an (augmented) reality!
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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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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