What is Genaro Network (GNX)?
The Genaro Network is a decentralized storage network that offers a Turing-complete public blockchain. The project is seen as one of the pioneers of Blockchain 3.0. The platform provides a one-stop solution for blockchain developers to deploy smart contracts and store data at the same time. It provides critical infrastructure for providers of blockchain solutions, in a bid to encourage the usage of blockchain storage over cloud storage. It also aims to contribute to blockchain infrastructure development by creating common standards for decentralized applications.
The network plans to support and encourage the growth of the blockchain ecosystem by opening and operating a series of hubs around the world in places like Singapore and the United States. These hubs will provide places for the advancement of blockchain education and adoption. Additionally, it will encourage co-creation, co-working, and co-living. Furthermore, this hub will serve as an accelerator for ideas that have the potential to change the world of blockchain as we know it.
The platform has a native utility token called the GNX token. This token is described as the lifeblood of the ecosystem. On the price chart above, you can find the current Genaro Network price.
Use Cases of GNX Tokens
The main purpose of the GNX coin is to act as a medium of exchange on the network. It is designed as a way to compensate storage space lessors for leasing their spaces. The GNX crypto token can also be used in all decentralized applications built on the Genaro Network infrastructure.
However, the GNX token cannot be used for staking activities to give yields or for voting processes on the network. To maintain Genaro Network price stability, the token will not be used for speculative purposes as well. Recall that you can find the current GNX price on the live price chart above.
Who Founded Genaro Network?
The Genaro Network crypto project was founded by Larry Liu and a network of remote developers in 2017. Other key members of the team include Jason Inch, Weylon Wu, and Andrea Liu.
Tokenomics of GNX
As of writing, there is no maximum supply set for GNX tokens. However, the initial total supply stands at 650 million GNX. The distribution model of the token is unknown. To see the current Genaro Network price, you can refer to the live price chart above.
