GateChain is a folk blockchain that focuses on the secure transfer of digital assets. Its untouched token is GateToken (GT), which is used for payment of transaction fees and security of the network. GateChain aims to provide users with the ability to manage their digital assets directly on the network. It is fully integrated with Ethereum Digital Gadget (EVM), allowing smart contracts to be deployed easily.
What is GateChain?
GateChain is a folk blockchain that facilitates the transfer of digital assets and claims to be dedicated to “protecting assets.”
GateChain’s untouched token is GateToken (GT). It is primarily used to pay transaction fees, but users can also stake it to validate transactions and secure the network, in return for rewards.
GateChain offers an on-chain wallet, allowing users to manage their digital assets directly on the network, thus eliminating the need for third-party wallets. It is fully integrated with the Ethereum Digital Gadget (EVM), allowing Ethereum Based smart contracts can be easily deployed.
Who is the founder of GateChain?
GateChain was launched by Gate.io in 2018. The GateChain company is based in Zurich, Switzerland and was founded by Thomas Kofler and Wassilios Lytras.
Why is GateChain unique?
GateChain offers a block time of only 4 seconds and can reach up to 2,745 transactions per second (TPS), while incurring low gas fees of just $0.0001 per transaction.
Developers can create and deploy their own smart contracts on the GateChain Community, which offers a huge series of potential use cases.
Developers are inspired to migrate Ethereum’s dApps to GateChain for which GateChain introduced the ‘EVM Account’ type and enhanced the account system. The platform also supports Ethereum’s 0x addresses, allowing users to move their assets using the same address on both networks without creating a new account on GateChain.
How is the GateChain network secured?
GateChain is secured by a Proof-of-Stake (PoS) set of rules. Users can stake their GT Token to become validators, who are responsible for securing the network and processing transactions, in return they receive a share of the transaction fees, which are paid in GT Token.
GateChain Crew has also developed an on-chain security account and customizable time-delay recovery features to provide security to users’ assets, so that even if personal keys are hacked, users’ assets will remain safe.
Where can you buy GateTokens (GT)?
GateToken has been checklisted on these platforms.
Conclusion
GateChain is a blockchain platform that provides new convenience in the transfer of digital assets. Its EVM integration and Proof-of-Stake (PoS) security model provide a better experience to developers and users. Through GateChain, users get a high level of security and speed for smart contracts and other digital elements. Crypto investors get a robust and secure environment with this platform.
