Geodnet (GEOD)

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Precise Positioning and Navigation

Geodnet provides highly accurate real-time positioning data with centimeter-level precision using a decentralized network of GNSS (Global Navigation Satellite System) base stations. This is much more precise than standard GPS, which is usually accurate within 10-20 feet.

Robotics and Autonomous Systems

The network supports advanced applications like autonomous vehicles, drones, and robotic systems that require exact location data to operate safely and efficiently.

Agriculture and Industrial Automation

Geodnet’s precise location data is used for automated farming equipment such as tractors and lawn mowers, improving efficiency and reducing manual labor.

Data Services and Token Incentives

Users who operate Geodnet base stations contribute real-time satellite correction data and earn GEOD tokens as rewards. Businesses and developers buy this data for their location-based services, creating a marketplace for high-quality geospatial data.

Web3 and Decentralized Infrastructure

Geodnet uses blockchain technology to ensure secure, transparent data transmission and incentivizes network growth through token staking and rewards, making it a decentralized physical infrastructure network (DePIN).

Emerging Use Cases

The network also supports applications in augmented reality (AR), metaverse, transportation, finance, and environmental monitoring by providing reliable, real-time geospatial data.

For more details, visit geodnet.com.

Pros

• Geodnet is the world’s largest decentralized Web3 network for precise positioning, improving GPS accuracy to centimeter-level.
• It supports important real-world uses like autonomous vehicles, drones, robotics, augmented reality, and metaverse applications.
• Users can earn GEOD tokens by contributing RTK data or running satellite reference stations, creating passive income.
• 80% of the network’s data revenue is used to buy back and burn GEOD tokens, reducing supply and encouraging growth.
• The network offers cryptographic guarantees for data authenticity and ownership.
• GEOD tokens are supported on multiple blockchains like Polygon, Solana, and IoTeX, allowing flexible use and trading.
• The project is part of the growing DePIN (decentralized physical infrastructure networks) space, which incentivizes building useful infrastructure with crypto rewards.

Cons

• The token’s value depends on continued demand for its data services and network growth.
• Competition from established players in satellite and positioning services could challenge Geodnet’s market share.
• Rewards for miners halve annually, which may affect long-term incentives.
• The project is relatively new and still growing, so adoption and liquidity may be limited compared to bigger cryptocurrencies.
• Market price and trading volume can be volatile, reflecting typical crypto market fluctuations.

For more details, visit geodnet.com.

Founders

Geodnet was founded by Mike A Horton and Yudan Yi. Mike A Horton is also the CEO of Geodnet.

Background

Mike Horton has over 20 years of experience in navigation technology and was previously CEO and co-founder of Crossbow Technology. Yudan Yi is a co-founder involved in building the blockchain-based geolocation and navigation network.

For more details, visit geodnet.com/about.

Investors in Geodnet

• Venture Capital Firms: Multicoin Capital led the latest $8 million seed funding round. Other notable investors include CoinFund, Pantera, and VanEck.
• Individual Investors: Santiago R. Santos, a known figure in crypto investing, is also an investor.
• Investment Rounds: Geodnet has raised around $15 million over multiple rounds, including seed rounds and an Initial Coin Offering (ICO) with participation from Digital Asset Capital Management and others.
• Additional Investors: North Island Ventures and Levitate Labs have also invested in Geodnet.

These investors support Geodnet’s mission to build a blockchain-based global navigation network with precise location data.

No. There is no specific information or official statement available that confirms Geodnet is halal.