Geodnet For Dummies: All You Need to Know Explained in 2 Minutes
In just two short years, Geodnet has built the largest GPS correction network in the world, transforming how we navigate by boosting GPS accuracy from meters to centimeters.
Understanding GNSS and the Problem
Global Navigation Satellite Systems (GNSS), which include GPS (US), GLONASS (Russia), Galileo (EU), and others, are critical to modern navigation.
From autonomous vehicles to precision farming, these systems rely on GNSS for accurate positioning.
However, GNSS satellites orbit approximately 20,000 km above Earth, and as their signals travel through the atmosphere, they become distorted.
This distortion can lead to location errors of up to 10 meters.
For systems requiring high precision, such as unmanned vehicles, these errors can be disastrous.
To counteract this, Real-Time Kinematics (RTK) technology is used.
RTK involves ground-based stations sending correction data to nearby systems, improving location accuracy significantly.
With RTK, location precision improves significantly. However, building large RTK networks has traditionally been costly and time-consuming. This is where Geodnet comes in.
Enter Geodnet: Transforming GPS with DePin
Geodnet is addressing the limitations of traditional RTK networks by leveraging the Decentralized Physical Infrastructure (DePin) model.
Instead of relying on expensive and centralized infrastructure, Geodnet is building a global network of RTK stations—referred to as satellite miners—on household rooftops.
These satellite miners enhance navigation system accuracy for a wide range of applications, from IoT devices to farming and construction, improving precision from meters to centimeters worldwide.
By leveraging the DePin (Decentralized Physical Infrastructure Networks) model, Geodnet reduces the cost of building and maintaining its network.
Building large RTK networks has been costly and time-consuming.
Geodnet is able to provide RTK services at a fraction of the cost compared to traditional web2 providers.
How It Works
Anyone with a clear sky view and a reliable internet connection can set up a Geodnet miner. These miners, equipped with antennas, receive satellite signals and transmit real-time correction data to nearby devices via the Geodnet platform.
End users can access Geodnet’s RTK services by purchasing a plan through its partners and paying in fiat currency. The revenue generated is used to buy back and burn $GEOD tokens, with 80% of the revenue allocated for this purpose.
The network supports high precision for most devices worldwide and is compatible with thousands of GNSS receivers.
The entire Geodnet system is powered by the $GEOD Token.
Miners are rewarded with $GEOD tokens based on factors like signal quality and uptime. End users pay for RTK services in fiat currency, with 80% of this revenue used to buy back and burn $GEOD tokens, thereby supporting a deflationary model.
Additionally, staking $GEOD tokens is necessary to activate mining areas, promoting a fair and decentralized network.
Geodnet employs a Hex system to manage miner distribution. This system minimizes reward dilution in crowded areas, ensuring a dense and reliable global network.
Miners who are inactive or operate in overcrowded areas see a reduction in rewards, ensuring the network remains robust and evenly distributed.
Global Expansion and Market Potential
Geodnet’s network has grown rapidly, with the number of miners more than doubling this year. The network now spans 8,700 miners across 136 countries, offering full coverage in Europe and major cities worldwide, and expanding in the U.S.
Geodnet is in high demand, with an ARR exceeding $1 million.
Web2 users are already paying for RTK services through Geodnet's partners in fiat. With global availability and the lowest costs, Geodnet is one of the best choices for consumers and businesses looking for location accuracy.
The Future of Geodnet and $GEOD
As our reliance on precise location data grows, especially with the rise of AI and autonomous systems, the demand for high-precision signals will only increase. Geodnet's innovative approach to RTK technology positions it as a leader in the GNSS correction market.
RTK has been the most accurate form of GNSS correction for decades, but its high cost and scalability issues have limited its adoption. Geodnet addresses these challenges head-on with its DePin model, providing a cost-effective and expansive RTK network.
The company is also expanding its ecosystem by launching a mobile app for car navigation and integrating with the Solana blockchain to support Web3 projects. With an ARR exceeding $1.2 million and a unique tokenomics model that includes buybacks, burns, and halving mechanisms, the future looks bright for $GEOD.
Geodnet is not just revolutionizing GPS accuracy; it’s laying the foundation for a new era of precision in our increasingly digital and autonomous world. With its innovative technology, rapid growth, and strong market potential, Geodnet is a project to watch closely in the coming years.