• Vik

Geodnet- Space Miner New Cryptomining Project

Geodnet is a new cryptomining project related to geospatial data. According to Geodnet, their mission is to gather dense real-time geospatial data from the Earth and her atmosphere using a new class of roof-mounted Space Weather stations. The Geodnet team includes renowned blockchain developers and experts in the technology and blockchain field.

Space weather is related to changes in the sun. The sun radiates energy outward, which leads to a solar wind hitting Earth. This solar wind carries a magnetic field that interacts with Earth’s atmosphere. Real-time Space Weather data can help us monitor air quality, sea-levels, predict earthquakes, and power a host of IT services from nano-second timing to millimeter accurate position measurements.

Space weather data observation has been expensive and limited to specialized “CORS” networks. Geodnet uses new receiver technology and the power of blockchain to build a new global cyber-infrastructure that provides a dense set of measurements at a radically lower cost.

The Geodnet stations mine satellite navigation observations to form a data source. Through the registration in network, a qualified miner node will be identified and examined by the system, and only miners will be rewarded proportional to their data quality and uniqueness of the location. The reward is the number of GEOD tokens. Each node has a blockchain address. Each data source node is therefore a globally unique identifier.

I really like crypto mining projects such as these wherein I can contribute to the project and get rewarded. I have set up a Geodnet miner at my house. I will go over the installation process in a later post. It is very simple.

There are many risks in new, unproven projects like Geodnet, but I find the risks worthwhile for the reward. This project has utility and is working towards improving the Space Weather industry. A network of space weather stations all over the world, provides a wide range of quality data. The team is made up of seasoned professionals who have experience in technology and blockchain.

You can get a space miner from the following link. A space miner cost $495 plus shipping and import charges. Currently, there is a waitlist and it may take some time for your miner to arrive. You can join the Geodnet discord and connect with the team if you have any questions. I would recommend getting into projects such as these as early as possible since it reduces risk.

The Geod token has yet to be created. There are plans for a IDO, in which the community can participate in. The miner I have set up is collecting space weather data and being rewarded in GEOD token. I am getting approximately 2 GEOD per hour. The GEOD hasn't launched yet. Currently, miners in close proximity to each other, specifically within a 20 km range, have reduced rewards. You can find details about the GEOD tokenomics and rewards here.

In conclusion, I don’t mind risking $500 on a space miner in hopes of exponential returns. Furthermore, I like the tech behind Geodnet and being part of the project. I would recommend reading the whitepaper and other pertinent details about the project before deciding if it’s for you.

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