What Is GateChain?

GateChain is a public blockchain which facilitates digital asset transfers, and claims to be “dedicated to asset safety.”

The network’s native token is GateToken (GT). It’s mainly used to pay transaction fees, but users can also stake it to validate transactions and secure the network in exchange for rewards.

GateChain offers an on-chain wallet for users to manage their digital assets directly on the network itself, thereby eliminating the need for a third-party wallet. It’s also fully integrated with the Ethereum Virtual Machine (EVM), making it easy to deploy Ethereum-based smart contracts on the platform.

Who Are the Founders of GateChain?

GateChain was launched by Gate.io, a global crypto exchange, in 2018. The company is based in Zurich, Switzerland, and was founded by Thomas Kofler and Wassilios Lytras, according to Crunchbase.

What Makes GateChain Unique?

GateChain boasts a block time of just 4 seconds and can achieve up to 2,745 transactions per second (TPS), while offering low gas fees of as little as $0.0001 per transaction.

Developers can create and deploy their own smart contracts on the GateChain network, which provides a vast array of potential use cases.

To encourage developers to migrate their Ethereum dApps to GateChain, GateChain introduced an 'EVM account' type and expanded the account system. The platform also supports Ethereum's 0x address, which allows users to run their assets on both networks using the same address without having to create a new account on GateChain.

Related Pages:

Learn some more what decentralized applications (DApps) are.

What is a smart contract? Learn more with the CMC glossary.

New to crypto? Check out CoinMarketCap's educational portal to get the latest news and insights.

How Many GateTokens (GT) Are There in Circulation?

There are 97,810,057 GT tokens circulating as of June 2023. The maximum supply is 300,000,000.

How Is the GateChain Network Secured?

GateChain is secured by a proof-of-stake algorithm. Users can stake their GT tokens and become validators responsible for security of the network and process transactions in exchange for a share of the transaction fees, paid in GT tokens.

The GateChain team also developed an on-chain safety account and customizable time-delay recovery features to offer users asset safety even if private keys are hacked.

Where Can You Buy GateTokens (GT)?

GateToken is listed on Gate.io, Huobi, LBank, Bitfinex and more.

Want to keep track of GT live prices? Download the CMC mobile app.