GateChain is a public blockchain designed for the transfer of digital assets, emphasizing "asset safety" as one of its core missions.
The network's native cryptocurrency is GateToken (GT). It is primarily used to cover transaction fees, but it also allows users to stake tokens for transaction validation and network security, offering rewards in return.
GateChain enables users to handle their digital assets directly on the network through an on-chain wallet, removing the necessity for third-party wallets. Additionally, it is fully compatible with the Ethereum Virtual Machine (EVM), simplifying the deployment of Ethereum smart contracts on the platform.
Who Are the Founders of GateChain?
GateChain was introduced in 2018 by Gate.io, an international cryptocurrency exchange. The company, headquartered in Zurich, Switzerland, was founded by Thomas Kofler and Wassilios Lytras, according to information from Crunchbase.
What Makes GateChain Unique?
GateChain stands out with a block time of just 4 seconds and the capability to handle up to 2,745 transactions per second (TPS), all while keeping gas fees as low as $0.0001 per transaction.
Developers have the opportunity to build and launch their own smart contracts on GateChain, opening up a wide range of use cases.
To attract developers to bring their Ethereum dApps over to GateChain, the platform has introduced a special 'EVM account' type and has enhanced the account system. It also supports Ethereum's 0x address, allowing users to operate their assets across both networks with the same address, eliminating the need for creating a new account on GateChain.
How Many GateTokens (GT) Are There in Circulation?
As of June 2023, there are 97,810,057 GT tokens in circulation, with a total supply cap of 300,000,000.
How Is the GateChain Network Secured?
GateChain employs a proof-of-stake algorithm to ensure network security. By staking their GT tokens, users can act as validators who secure the network and process transactions, receiving a portion of the transaction fees in GT tokens as compensation.
Additionally, the GateChain team has devised an on-chain safety account and customizable time-delay recovery features to protect user assets even in cases where private keys are compromised.
Where Can You Buy GateTokens (GT)?
You can purchase GateToken on several exchanges including Gate.io, Huobi, LBank, Bitfinex, and others.
Looking to monitor live GT prices? Download the CMC mobile app to stay updated.
