Article Summary, Automatically Generated By AI
Summary of GateToken (GT)
Key Points
- GateChain is a public blockchain for digital asset transfers, with a native token GateToken (GT).
- GT is used for transaction fees, staking, and validating transactions.
- GateChain offers an on-chain wallet and is integrated with Ethereum Virtual Machine (EVM).
- Founded by Gate.io in 2018, with founders Thomas Kofler and Wassilios Lytras.
Unique Features
- Block time: 4 seconds
- Transactions per second (TPS): up to 2,745
- Low gas fees: as little as
Introducing GateToken: Unlocking the Future of Digital Assets
Introducing GateChain: A Revolutionary Blockchain Ecosystem
GateChain is a decentralized, public blockchain platform that enables seamless digital asset transfers, with a paramount focus on ensuring the utmost security and safety of assets.
The network’s native cryptocurrency, GateToken (GT), serves a dual purpose. Primarily, it facilitates the payment of transaction fees, while also enabling users to participate in the validation of transactions and network security through staking, thereby earning rewards in return.
GateChain provides a decentralized on-chain wallet, empowering users to directly manage their digital assets on the network, thereby obviating the need for a third-party intermediary. Furthermore, its seamless integration with the Ethereum Virtual Machine (EVM) facilitates the effortless deployment of Ethereum-based smart contracts on the platform.
The Visionaries Behind GateChain: Meet the Founders
GateChain, a pioneering blockchain project, was unveiled by Gate.io, a renowned global cryptocurrency exchange, in 2018. Headquartered in Zurich, Switzerland, the company was co-founded by Thomas Kofler and Wassilios Lytras, as reported by Crunchbase.
GateChain’s Distinctive Edge: A Revolutionary Approach
GateChain takes pride in its remarkable block time of a mere 4 seconds, coupled with an impressive throughput of up to 2,745 transactions per second (TPS), all while maintaining exceptionally low gas fees, starting from a nominal $0.0001 per transaction.
On the GateChain network, developers are empowered to craft and deploy bespoke smart contracts, unlocking a vast expanse of potential applications and use cases.
To incentivize developers to migrate their Ethereum decentralized applications (dApps) to GateChain, the platform has introduced an innovative ‘EVM account’ type, thereby expanding its account system. Furthermore, GateChain supports Ethereum’s 0x address format, enabling users to seamlessly operate their assets on both networks using the same address, eliminating the need to create a new account on GateChain.
The Circulating Supply of GateTokens (GT): A Closer Look
As of June 2023, the circulating supply of GT tokens stands at 97,810,057, with a capped maximum supply of 300,000,000.
The GateChain Network’s Robust Security Mechanisms
GateChain’s robust security is underpinned by a proof-of-stake algorithm, empowering users to stake their GT tokens and assume the role of validators. In this capacity, they are entrusted with safeguarding the network and facilitating transaction processing, in return for a proportionate share of transaction fees, denominated in GT tokens.
The GateChain team has also devised an innovative on-chain safety account, complemented by customizable time-delay recovery features, thereby ensuring users’ assets remain secure even in the event of private key compromise.
Acquiring GateTokens (GT): A Comprehensive Guide to Exchanges and Marketplaces
GateToken has garnered prestigious listings on esteemed cryptocurrency exchanges, including Gate.io, Huobi, LBank, Bitfinex, and several others.
Stay up-to-date with real-time GT prices on-the-go by downloading the CMC mobile app.
Associated Resources:
Delve into the world of decentralized applications (DApps) and discover their vast potential.
Delve into the realm of decentralized technology and discover the intricacies of a smart contract, expertly defined in the CMC glossary.
New to the world of cryptocurrency? Explore CoinMarketCap’s comprehensive educational portal, where you’ll find the latest news, expert insights, and valuable resources to help you navigate the ever-evolving crypto landscape.