How does the GNodes distributed ledger work?
With GNodes all user devices participate in the operation of the network. There are no special nodes. The main difference with current crypto networks is that GNodes uses a distributed agreement mechanism (MARPLE) in place of a leader-based consensus (one node sending the assembled block to all other nodes).
Why develop a network with no intermediaries? What's wrong with current de-centralized networks?
A: Mostly it’s a question of trust. If you have intermediaries (e.g., miners, verifiers, federated systems, special nodes)
- You have to trust that the intermediary is not giving preference to certain users or transactions
- You have to trust that the intermediary is not a targeted by a DoS attack
- You have to trust that the intermediary’s system has not been taken over,
- You have to trust that it’s not experiencing a blackout or a system failure
- You have to trust that you are really talking to the trusted system and not an impersonator (i.e., someone else is pretending to be the trusted intermediary)
It’s also a question of cost: If the intermediaries are doing useful work, then they need to be rewarded, or they may do a lousy job :-).
For these reasons most cryptocurrency owners prefer unpermissioned, public networks.
Finally, by creating a privileged class of nodes, then the majority of nodes do not hold the current replica of the blockchain immediately available.
This precludes the development of many real-time applications, whether for finance, AI, IoT, superconnectivity, etc.
How does Gorbyte generate revenue?
Gorbyte has an exclusive, global master license for the GNode platform technology. It will profit from software licenses for GNodes. The Gorbyte model for the distribution of GNodes is similar to that of MS Windows: Gorbyte will sell a one-time software license to mobile manufacturers for the introduction of GNodes with their new phones designed for the cryptocurrency market.
Gorbyte will individually license customers buying GNodes for their PC or for upgrades. In addition, Gorbyte will also profit from software licenses for future applications.
What is the value of the GNodes proposal and what are the differences with the hundreds of blockchain finance initiatives?
The first difference among blockchain initiatives is that GNodes is not an application or a token defined on (and dependent on) another crypto network. It is a new crypto network which will provide a new distributed operating environment which eventually could replace common PC/mobile operating systems (e.g., Windows/iOS/Mac OS) as the preferred environment for distributed applications.
Any application ever written or conceived could be developed over this distributed operating environment in a simpler, faster and more secure way. This is because the network already takes care of:
- security (through cryptography)
- peer-to-peer communication (through transaction processing)
- uniqueness and personal bonding (through the BRUD device and its biometrics)
- data distribution and data integrity (through the blockchain) and
- distributed processing
The scope and advantages of blockchain applications are well known.
The odd thing is that hundreds of companies have understood the advantages of the blockchain and have invested millions of dollars in such projects when there is no clear, scalable solution for the supporting network, either permissioned (projects by banks and large corporations) or unpermissioned. The GNodes crypto network will fulfill that requirement.
The second difference, among many finance initiatives, is that the GNodes network is unpermissioned. The code will be Open Source (same as the Internet protocols). So, no bank or central authority is involved in transaction collection or verification. Users do not need to trust any verification authority. This puts GNodes in a very restricted set of crypto networks.
The two top crypto networks in this set are Bitcoin and Ethereum. The demand for the BTC and ETH currencies has grown beyond expectations in the last few years. There are also a number of Bitcoin-based network variations.
Only the GNodes and Ethereum networks can be used as distributed operating environments.
The third difference, within the unpermissioned set, is that the GNodes consensus mechanism is cooperative, instead of PoW (currently used by Bitcoin and Ethereum) or PoS (proposed new mechanism by Ethereum).
This allows GNodes to use a free business model (no mining costs), expanding its usability and penetration to a much broader potential user base (while reducing energy consumption by orders of magnitude).
Because of no maintenance network cost, the GNodes currency will have no built-in inflationary characteristics and can be used as a savings account.
Other improvements, such as elasticity and stability of the currency value will allow the GNodes currency to be used as a regular fiat currency all over the world.
Why would people want to share their device resources and become a node of the GNodes network ?
Because by keeping their device ON, they can use the services of GNode’s distributed operating environment, just as today they keep their cell phone ON to use the services available through the internet.
Specifically, they can:
Use their BRUD device (e.g., GNodes’ BRDG) as a hard wallet, for secret messaging, for secure payments, for personal biometric identification, and for many other blockchain-compatible applications currently being developed.
- Move money: Free financial transactions with fast confirmations.
- Get a No-Fee savings account with as much as 4% / annual average interest earned.
- Receive Proceeds shares with all account holders from fees charged to distributed applications.
- Use Gorbyte’s proprietary currency for normal purposes, as the value maintained will be more stable than other currencies.
What is someone creates a better digital currency?
Currently Bitcoin is the most popular digital currency. GNodes may someday take its place, and a different system may take the place of GNodes. These are the risks and advantages of a free market.
Ultimately, no matter what the network will be, society will benefit from free transaction processing and a distributed operating environment.
How can Gorbyte make money if it provides free services?
Our parent company, Gorbyte Inc. develops blockchain technology and its profits from:
- Blockchain software: Licensing of proprietary distributed applications, such as secure messaging, asset registration, voting, reservation systems, virtual private blockchain networks for institutions, etc.
- In the future, crypto devices: BRDG wearable, biometric hardware wallet devices, FRTSS secure crypto devices for professionals, RMPRT corporate blockchain servers, etc.
- Software services in the blockchain space, such as consulting, software integration, API’s etc.
- Strategic partnerships with currency exchanges.
The GNodes public network is a crypto network released by Gorbyte and managed by our company, Gorbyte Corp. under an exclusive worldwide license.
GNodes is not owned by any corporate entity, thus any proceeds are directly shared with GNodes currency owners.
The network charges no fees for its basic services. However, the GNodes network also provides a fee-based service. Its distributed operating environment is a platform for running general distributed applications (GApps).
These GApps will be required to pay transaction fees to the network in proportion to the resources used by each transaction (e.g., blockchain memory and/or processing power). Since the network is not owned by a corporate entity, the proceeds from GApp transaction fees are distributed to GNodes wallet owners in proportion to their currency holdings.