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FAQ
GEODNET is a web3 cryptocurrency project that aims to disrupt the global positioning industry by creating precise location data using a worldwide network of global positioning satellites. The project is built on web3 technology, which enables decentralization, security, and transparency. GEODNET is designed to be accessible to anyone, anywhere in the world, and is not limited by geographical boundaries
GEODNET has its own cryptocurrency token, $GEOD, which is earned through mining. There are two types of miners: Space Weather Stations miners and Service Provider miners. Space Weather Station miners earn $GEOD tokens through the Proof of Accuracy Protocol, which validates measurement observation quality on several metrics. Service Provider miners are rewarded using a Proof of Stake protocol and also act as the backbone of the blockchain
There are no geographical restrictions for participating in the GEODNET network. It is accessible to anyone with an internet connection and the necessary infrastructure to contribute and share real-time data
To optimize your mining rewards on the GEODNET network, you can focus on providing high-quality and valuable real-time data. This can involve identifying niche data sources, ensuring data accuracy and reliability, and actively participating in the GEODNET marketplace to connect with potential data buyers. Additionally, staying informed about the needs and trends in the data market can help you align your data offerings with demand and maximize your rewards
You can use the GEODNET network for various applications, including climate change monitoring, autonomous driving, high-resolution mapping, autonomous construction, UAV logistics, unmanned farming, VR/AR, geodetic surveying, and deformation monitoring