Genaro Network (GNX)

Having spent much time looking around for interesting alt coins to add to my portfolio I came accross Genaro Network (GNX)

Its is pitched as 3.0 Turing complete blockchain that also had decentralized storage. I thought this would be an interesting concept, what with the need to store and access data off chain and the rise of coins such as storj, file coin, sia etc. I am not from a technical background, so am happy for others to correct me where applicable.

I went to dig a little deeper and to be honest theres is not a lot out there about this project, so I thought I'd have a go a putting some info out there, which of course does not constitute financial advice etc etc.

The first thing that struck me was that Bo Shen (founder of fenbushi capital) is an advisor, so this piqued my interest to dig a bit further.

The project lead and one of the founders is Larry Lui who has some solid credentials stated on the GNX site of good experience in blockchain, AI and entrepreneuring. Co founder Waylon Wu appear to be of a similar vein. Another Co founder is Jason Inch, who has alot of experience in Business and blockchain technology and has even authored a couple of books on Chinas societal and economic development.

They also appear to have further numerous other team members including developers and the necessary community and business developers such a project requires.

All good so far, but what about the product? Well there is a nice fancy blockchain that uses PoS, allowing people to set up "challenger" nodes where they can share computing power to assist with the PoS. These nodes can also contribute power to retrieving data through what they term as SPoR (sentinel proof of recovery). Tokens are earnt this way and can also be earned by people sharing spare storage.

So what's the benifit of this over the combination of utilising a different blockchain and a storage solution? The obvious is that developers will have all the tools they need to make dapps without having having to develop on 2 different platforms (ie solidity and ipfs.)

Genaro also plan to set up incubator hubs where they can focus on developers building dapps on genaro, with the first being in Singapore I believe.

I watched the YouTube video by coin interview with Larry lui and Jason inch. What I learnt from this is that they appear to firstly have good synergy. Larry is obviously very tech minded and Jason helps tone the tech side down a bit so dumbos like me can (almost understand).

Larry obviously has a great mind and he was not caught out with some tough questions. If you watch this video, about 45 mins in, one of the real potentials of this tech is discussed. That is this project can theoretically allow stored data to be analysed without the the actual contents of that data being revealed. Sounds crazy yeah?! If true though, the implications to big data business models is immense. No risks of data leaks such as the equifax problems. I'm probably not explaining it well and the video is worth a watch. Even the interviewers appeared blown away at one point.

Genaro have also entered into a working partnership with storj in order to facilitate there storage development.

Anyway, I hope you find this useful and I of course welcome all comments. Currently GNX is $0.42, and yes I have bought a few.