What is Genaro Network?
On top of the smart contract provision, the community benefits from a communal and a trustworthy platform. With features such as Genaro Hub and Accelerator, their main aim is to move dApps from the cloud to their blockchain and in the process creating this global blockchain ecosystem.
Genaro is one of the first to embrace an advanced decentralized platform that has better access to Artificial Intelligence, Internet of Things among other technologies. Each block in Genaro adopts Proof-of-Stake (PoS) as the consensus method where a validator can stake their coins in every new block. In case a validator stakes the coin on a wrong block or chain it will be termed as an attack and that validator who approved the block would be penalized.
The Genaro token name is GNX and it’s the backbone of the network rather the utility token. It is used by the storage platform so as to compensate and pay for leasing space for the Decentralized applications available on Genaro. Since GNX is not a security token it does not offer any profits or voting rights. They reserve the token to mainly be used as a medium of exchange within the network.