Question 1

What is GEODNET (GEOD)?

Accepted Answer

GEODNET, standing for the Global Earth Observation Decentralized Network, is a decentralized network of Space Weather mining stations. It is focused on reporting the real-time influence of the Sun’s solar winds on the Global Navigation Satellite System (GNSS) signals. The primary aim of GEODNET is to provide highly accurate corrections to GNSS signals, thereby achieving centimeter-level positioning accuracy and improving absolute time accuracy to the nano-second level. This makes it essential for various applications, including automotive/autonomous navigation, agriculture/construction vehicle machine control, earthquake/geohazard monitoring, and traditional land surveying. Moreover, GEODNET supports blockchain applications like decentralized mapping, Metaverse Digital Twins, location-aware smart contracts, and Proof-of-Location and Time​​.

Question 2

What is GEODNET (GEOD) used for?

Accepted Answer

GEODNET's native utility token, GEOD, has several purposes within the network:

Fees for Data Streams and Services: GEOD tokens are used to pay for GEODNET data streams and services.
Rewards for Space Weather Miners: Those who contribute to the network by mining space weather data are rewarded with GEOD tokens.
Governance Votes: GEOD tokens are utilized for governance votes, allowing token holders to have a say in how network resources are allocated.
Gas for Blockchain Transactions: GEOD tokens serve as gas for transactions involving native GEODNET blockchain location/time proofs​​​​.

Question 3

Who created GEODNET (GEOD)?

Accepted Answer

The GEODNET team comprises renowned open-source and blockchain developers and seasoned experts from leading technology platform companies. Key figures in the team include:

Yudan Yi: A top expert in his field, Yi has worked as a Senior Director at Aceinna and a Research Scientist at Qianxun SI and Topcon Positioning Systems. He holds a Ph.D. from Ohio State University and an MS from Tongji University.
David Chen: With over 20 years of experience in Silicon Valley, Chen is a blockchain pioneer and a full-stack blockchain expert. He has co-founded several blockchain projects, including Jingtum and MOAC.
Mike A. Horton: Horton is a successful entrepreneur who co-founded Crossbow Technology and later sold it to Moog Inc. He holds a BS/MS in Electrical Engineering from UC Berkeley​​​​.