Gridnet: GNC ICO Data & Energy Exchange Communication Protocol?

With the advent of various crypto technologies, our ability to exchange digital data in a seamless manner has improved quite significantly. This has prompted many startups to release services/platforms that allow easy information exchange without the use of any third party services or other intermediaries.

What Is GridNet?

According to the information that we could gather from the internet, GridNet is a “communication protocol” that provides its users with incentives that account for each and every byte of data that is transferred within the network. The bonuses/ rewards are given in the form of a native currency that can either be stored, or reinvested for other purposes.

In terms of the company’s vision, they aim to help people living in poor, rural areas by deploying wireless transmitters so that everyone can gain access to information, scientific knowledge, news (irrespective of their economic/ social status). The installations are not very expensive, and have been designed to run on solar power.

In addition to this, the folks over at GridNet are also working on a smartphone app that will enable communication via the use of pre-existing technologies such as bluetooth, WiFi.

Energy Exchange Communication Protocol Key Aspects

Alternative Deployment Models:

In addition to using wireless services, the technology also makes use of other communication protocols that makes use of “TCP/IP mechanisms).

Environmental Support:

Apart from the creation of a unique communication scheme, GridNet also aims at creating a new decentralized “energy market” that will make use of elements such as Smart Meters and energy trade systems (this will be done via the employment of real time resource auctions).

Ease Of Accessibility:

While many standard crypto programs are resource intensive, the GridNet network makes use of a novel programming language that is non intensive, and is able to help maintain platform security in an easy, seamless manner.

Hardware Appliances:

In addition to creating software solutions, the company also claims to be working on active “hardware appliances”. These include:

A new and improved blockchain-enabled Smart Meter,

Blockchain enabled Smart Controller.

Both of these devices are being designed to be rugged and free of issues related to weather changes, temperature fluctuates etc.

Why Join GridNet?

Team:

The company consist entirely of a group of scientists who have published papers that have been reviewed by the scientific community and been featured across respected journals such as the IEEE.

Smart Contracts:

The folks over at GridNet are currently working with a concept called “blockchain state channels”. Via the use of this technology, the company aims to redefine the way smart contracts work, thereby increasing transactional security and safety.

Unique API:

The code used to construct the platform is completely unique and does not feature any resources from other currently existing softwares.

Other Aspects To Consider

Unique Incentive system:

Users of Gridnet receive monetary bonuses for each and every byte of data they send across the network. As far as we know, there is no other application that uses this business model.

Two Modes of Operation:

According to the official company webpage, GridNet makes use of two communication protocols.

Decentralized:

As mentioned earlier, the platform is free of any involvement from telecommunication companies, governments or third party miscreants.

ULTIMIUM Mechanism:

This is a “consensus protocol” which makes use of a new hash algorithm. As of today, this technology has not been utilized by any ASIC device.

Gridnet GNC Token ICO Details

Parameter of the ICO

Token: GNC

Start: 08-11-2017

End: 04-12-2017

Price: 1 BTC = 1,301,935 GNC

How Do I Sign Up With Gridnet?

All interested users can visit the official company website and then follow the instructions outlined there. For any further details or queries, customers can get in touch with officials via the email address provided on the “contact us” page.