CASE STUDY

Geon Network

Visit locations to collect Geon Coins and exchange them for rewards at the Geon Store.

Overview

Geon provides a frictionless transfer of value between users that are in the network based on their geolocation to any place in the world. They can receive funds without the need to generate and store a cryptocurrency wallet or mine their cryptocurrencies the traditional way by means of computing a proof-of-work. The user simply gets rewarded by being present at a specific location.

Project name

Geon Network

Website

https://www.geon.network

Services

Back-end Development, Front-end Development, iOS Development, Android Development, DevOps, Blockchain, Web development

Type

Mobile app

The goal:

The goal of the project was to create a platform that would enable value transfers between its users – similar to existing cryptocurrencies. On top of that, the goal was to make it as easy to use as possible and efficient at the same time as described below.

Ease of use

The ease of use delivered by Geon Network is largely thanks to the fact that despite being similar to existing cryptocurrencies, Goen Network doesn’t require the recipient to have an address stored on the blockchain to receive funds. It’s enough if they provide a proof-of-location to validate any transaction on the network. In other words, the user simply agrees to the transfer by being present at a specific location.

Efficiency

The other goal of the project was to make the entire Geon Network frictionless and efficient as described in the following process. In the Geon Network, many users can transact, or ‘geomine’, at a given location. The system optimizes the geomining requests on the underlying blockchain to enable hundreds of thousands of transactions per second globally.

The transfer of value is implemented with Geons, virtual beacons planted in specific geolocations that hold Geon Coins. Users can acquire the coins either through flat conversion, cryptocurrency or through the process called geomining. During that process the coins are transferred to an auto-generated wallet on the user’s device. The transfers of Geon Coins between Geon Network users are unlimited. To participate, the only requirement is to have a mobile device with access to the internet to the internet with you.

The Geon Network has been built on smart contracts, which govern the geomining rules and execute transactions. Also, contrary to traditional cryptocurrencies, Geon Network allows for instant transfers of value to any place in the world without the need to specify the recipient’s address. Instead, the sender creates or identifies an existing Geon and transfers the funds to this beacon. Recipients, on the other hand, use the Geon much like a standard Automatic Teller Machine (ATM), but with additional attributes. The Geon can drive people to certain locations and motivate certain actions (via affinity or entertainment) that provide value to the sender.

Our role:

LemonUnit was handling the entire development scope of the project from end to end.
We prepared the architecture, technology stack as well the blockchain solution. We also handled maintenance and DevOps.

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