GT- Introduction Details


GateChain is a new generation of public chain focused on user asset security and decentralized transactions. With a unique online thermal insurance account, the liquidation security system creatively solves the core fundamental problems of the industry such as the theft of users' digital assets, the destruction and loss of private keys, decentralized transactions, and cross-chain transfers. With six years of blockchain technology accumulation, two years of dedicated research, and a hundred-person technical team, relying on excellent innovation capabilities and strong financial strength, we have created a revolutionary blockchain GateChain.



Project Introduction

GateChain uses unique account transfer rules to allow the original holder to redeem funds in the event that the user's hot wallet funds are stolen, protecting the security of user assets. At the same time, in the case of damage and loss of the private key, it helps the user to retrieve the funds and avoids the holder from incurring huge losses due to carelessness. This revolutionary innovation will remove obstacles to the acceptance of blockchain assets by the general public.

GateChain Token (GT) is the original asset of GateChain's mainnet, supporting the infrastructure of the mainnet, is the fuel of GateChain's mainnet, pays the network transfer fee, and is the reward of the mining of PoS equity of GateChain. GT is also an important ecological member of the Gate.io platform.



Ecology

GateChain ecosystem, including GateChain main chain, GateChain DEX, GT, wallet, etc., has built an enterprise-level safe and efficient decentralized digital asset storage, release and transaction ecosystem, providing a new blockchain security transaction solution Program,

Ecology mainly provides the following functions:

Transfer payment: Support users to use wallets, clients to send and receive GateChain Token GT and other on-chain assets.
Asset issuance: Issue your own Token to realize the digitization of assets, and use GT as a transaction carrier to manage your digital assets. For details, please refer to Asset Management.
Decentralized cross-chain transactions: Based on GateChain, it supports high-performance decentralized transactions between different digital currencies.
Safe storage of assets: Through the original insurance account technology and clearing protection system, the account is fully protected, supporting the cancellation/clearing operation of abnormal transactions. For details, please refer to the transaction guarantee.
Multi-signature: Multiple relevant signature owners can customize the management of digital assets under the same account to meet enterprise-level requirements. Please refer to multi-signature for details.
POS mining income: In order to ensure the health and stability of the bottom layer of the blockchain, users are encouraged to participate in PoS mining to obtain GT rewards as a stable income return.



Application scenario

GateChain provides two types of accounts: normal account and insurance account (Vault Account), which takes into account the fast and efficient needs of daily payment and the safety and reliability of fund storage. Ordinary accounts are similar to bitcoin operations and support rapid payment of account funds, but cannot be withdrawn after payment, and assets cannot be recovered once the account private key is lost. The on-chain insurance account "Vault Account" is an important innovation of GateChain, which provides important security features such as the withdrawal of stolen funds and the recovery of lost private keys. The combination of the two accounts provides GateChain users with complete security feature support.

1. Security management of personal funds:
GateChain provides ordinary accounts and insurance accounts for individual users. The ordinary account is used to store a small amount of funds that the user uses daily, and the insurance account stores the funds that the user does not need to use temporarily. Insurance account funds can be set a delayed withdrawal time, such as 2 days.

2. Automatic release of personal inheritance or gift:
The processing of digital heritage has always been a headache, because unlike bank funds, real estate and other assets can be handled by others through legal channels. The private keys of digital assets are basically kept by myself for security reasons. Without complicated processing, many people’s digital assets will be permanently sealed after death, and future generations cannot obtain them. GateChain's insurance account can support the safe and automatic release of personal assets to the target personnel at a certain time set in the future, and there is no need to worry about the risk of loss of private keys or theft of funds during this time. Therefore, as long as individuals set the distribution ratio and release time of digital heritage through GateChain before they die, they can safely and safely transfer the digital heritage to the designated personnel at the designated time.

3. Safe storage of bank funds:
The storage of bank funds has extremely high requirements for security. At present, the main mechanisms adopted in the blockchain are off-chain cold storage and hardware wallets. However, these mechanisms cannot guarantee 100% of the security of blockchain assets, especially the risk of asset loss caused by the damage of users' private keys. These problems limit the possibility of large-scale adoption of blockchain assets.
With GateChain insurance account storage, banks can reduce the risk of fund storage by setting a longer delay withdrawal time. On the other hand, GateChain supports cascading of insurance accounts, which can exponentially reduce the risk of funds being stolen.