Cardano (ADA) Finances GeoGnomo Smart Ledger Blockchain Geostamping Project
Proudly put into work thanks to the financing provided by Cardano (ADA), GeoGnomo is a project based upon open source by Long Finance's Distributed Futures research program.
The primary function of GeoGnomo is directed towards researching and sharing methods employed in the action of smart ledger geostamping. Thus far, the project has enjoyed a great deal of positive progress due to the ways in which it records areas that also aid efficient data retrieval.
A geostamp is a digital record of the geographic location of a transaction. Ever wonder how it can help increase interoperability for smart ledgers? Sponsored by Cardano Foundation, Distributed Futures will be hosting a webinar on Sep5. Registration here: https://t.co/vYlcwc3M55
— Cardano Foundation (@CardanoStiftung) September 1, 2018
There is little to no doubt that applications need to go far beyond just storing transactions, or ‘Timestamping‘ as it's referred to, they require the capability to perform and provide geolocation information. This desire has resulted in the subsequent rise of ‘Geostamping'. Geostamping is seen as a combination of both the currently used timestamping and geolocation information provision.
How GeoGnomo Blockchain Geostamping Project Works
The innovation, GeoGnomo, has built-to-share 3 approaches for recording areal information:
- A Quaternary Triangular System.
- Quaternary Rectangular System.
- A Variable Rectangular System.
All of these various features can be used in order to record various geographic areas into a blockchain by generating source code, while also offering an online translation from latitude and longitudinal areas for geocodes.
In this particular way, the blockchain use case has an immediate ‘global post code' or ‘global zip code' system that it can assign to various transactions wherever they may take place. In a recent piece of research which was published this month by Long Finance, the company indicated that GeoGnomo, the open source project was
“exploring various forms of geocoding for use in Smart Ledgers (aka blockchains with embedded computer code). The GeoGnomo project focuses on memorable systems that provide easy ways to aggregate areas together, as well as giving users some clues to location and distance and scale.”
“By using consistent geocoding data retrieval is easier. Users can share information easily – “tell the drone to come to F49PUR9B7-20”, a resolution of 7.6 metres,” Long Finance added in an accompanying statement.
The underlying idea will be subsequently added to the Smart Contract platform, and in doing so, enhancing operability and overall standards of the platform. Interestingly enough, it may be deployed by Cardano, at a future date in order to provide additional enhancements to its own Smart Contract platform.
In order to make the idea more well established in the the minds of various individuals that are otherwise interested in the discussions around Smart Contract Geostamping, Long Finance has stated that it will be planning a presentation on the concept of ‘Smart Ledger Geostamping – Steps Towards Interoperability and Standards'. This presentation itself will offer all ranges and levels of proficiency of blockchain enthusiasts fully abreast of what, why and how when it comes to the technology and its features.