Gate GT Price

What is Gate (GT)?

GateChain, a public blockchain developed by the global crypto exchange Gate.io in 2018, has emerged as a pioneering platform dedicated to ensuring the safety of digital assets. At its core is the native token, GateToken (GT), which serves various functions within the ecosystem.

Overview of GateChain:

GateChain facilitates seamless digital asset transfers and distinguishes itself with a strong commitment to asset safety. The platform provides users with an on-chain wallet, eliminating the need for third-party wallets. Integrated with the Ethereum Virtual Machine (EVM), GateChain enables the deployment of Ethereum-based smart contracts directly on its platform.

Founders and Origin:

Founded by Thomas Kofler and Wassilios Lytras, Gate.io, the company behind GateChain, is headquartered in Zurich, Switzerland. Launched in 2018, GateChain has since become a prominent player in the blockchain space.

Unique Features:

GateChain sets itself apart with a block time of just 4 seconds and an impressive transaction throughput of up to 2,745 transactions per second (TPS). Notably, the platform offers low gas fees, as low as $0.0001 per transaction. Developers can create and deploy smart contracts, opening the door to a multitude of use cases.

To attract developers, GateChain introduced an 'EVM account' type and expanded its account system, supporting Ethereum's 0x address for seamless cross-network asset management.

Security Measures:

GateChain employs a proof-of-stake (PoS) algorithm for network security. Users can stake their GT tokens to become validators, responsible for securing the network and processing transactions in exchange for rewards. To enhance asset safety, the team developed an on-chain safety account and customizable time-delay recovery features, mitigating risks associated with private key compromise.

GateToken (GT):

GT is the native coin of GateChain, serving as a utility for various functions. It can be used to pay transaction fees and gas fees on the network. GT holders can stake their tokens to participate in the PoS consensus mechanism, receiving rewards in return. The coin plays a crucial role in deploying and calling contracts on the platform.

Prime Features of GateChain:

Transfer/Trade: Users can send/receive GT tokens and popular on-chain assets using the platform’s wallet.

Asset Issuance: GateChain allows users to issue their tokens, digitalizing and managing their assets.

Multi-Signatures: Multiple users can share ownership of an account, customizing its management to meet platform and community requirements.

Asset Safe Storage (Vault Account): The platform introduces a vault account, addressing issues related to asset theft and private key loss.

PoS Consensus Mechanism: GT serves as a stable reward for users participating in staking, ensuring the stability of the GateChain ecosystem.

History of GateToken:

GateToken's GateChain was launched in 2019, and its whitepaper was updated on January 14, 2022, reflecting the continuous evolution and commitment to addressing complex challenges in blockchain technology.

In summary, GateChain stands out as a secure and scalable platform, leveraging the power of GT to foster asset safety and decentralized trading. With its unique features and commitment to innovation, GateChain continues to shape the landscape of blockchain technology.

What is unique about Gate (GT)?

GateChain distinguishes itself with a rapid 4-second block time, high throughput of up to 2,745 transactions per second, and low gas fees as minimal as $0.0001 per transaction. Its integration with the Ethereum Virtual Machine (EVM) allows easy deployment of Ethereum-based smart contracts, enticing developers with a wide range of potential use cases.

Who are the founders of Gate (GT)?

GateChain was launched by the global crypto exchange Gate.io in 2018. The founders, Thomas Kofler and Wassilios Lytras, based in Zurich, Switzerland, initiated the platform to focus on asset safety within the blockchain.

Who are the backers/investors of Gate (GT)?

Specific supporters and investors of the project are unknown. For up-to-date investor/backer information, please visit the project's official website.

What is the consensus mechanism of Gate (GT)?

GateChain employs a proof-of-stake algorithm for security, allowing users to stake their GateToken (GT) to become validators. These validators secure the network, process transactions, and receive a share of transaction fees in GT tokens. Additionally, on-chain safety accounts and customizable time-delay recovery features enhance asset safety.

Where can I buy Gate (GT)?

You can buy Gate (GT) on Gate.io, HTX, BitfinexPionexBitkub cryptocurrency exchanges.