What isGenaro Network (GNX)?

Genaro Network (GNX) is a two-tier smart data ecosystem that integrates a public blockchain with decentralized storage. Genaro aims to combine SPoR (Sentinel Proof of Retrievability) with PoS (Proof of Stake) to form a new consensus mechanism. The new mechanism ensures more robust performance, better security, and more sustainable blockchain infrastructure. On the GNX platform, users can use a combination of PoS and SpoR, which enhances the ability to protect against replay attacks.

Running on the blockchain, the platform envisions establishing a new encrypted and distributed storage source. It lets every user share data and establish abundant Dapps and blockchain while providing stable support. The platform aims to provide the developers with a platform to deploy smart contracts and store the information needed by Dapps. Besides, GNX also intends to pave the way for the next generation of blockchain apps and make decentralized applications as applicable as internet applications.

According to its whitepaper, the platform aims to analyze different attacks on PoS and propose relevant schemes to design the chain-style PoS. For better management structure, the platform combines proof of data integrity with PoS to provide efficient defense against major issues in PoS. The platform further seeks to develop the GSIOP protocol that aims to settle different data usage layers due to up-to-date storage encryption methods.

GNX is the platform's official cryptocurrency, which is an ERC-20 token. To improve the liquidity of GNX, the token is utilized in several valuable collaborations. The token aims to provide utility for community construction and development, promote the development of public chain applications, research and development of self-built applications, public-chain related tools, and accept future strategic investments. GNX also serves as a utility token to incentivize and encourage talented people to join the Genaro team as full-time members, part-time members, business consultants, academic consultants, legal counsel, financial, business development, and marketing consultants. 

History of Genaro Network (GNX)

The conceptualization of the Genaro Network was done in 2016. The Epilson Plan of Genaro Network marked the completion of the global round of the token sale in 2017. The Romulus plan of 2017 debuted the first peer-to-peer storage Dapp of its kind in Asia.