Assets security, the everlasting theme
Ever since being established in 2013, Gate.io has forever delved into
the safest approach to managing assets in the blockchain industry.
During this process of exploration we’ve managed to solve some pivotal
problems. Problems such as theft of assets and loss of private keys
which can occur under a variety of circumstances and due to several
reasons.
We have solved them by combining multiple security
schemes including separating the cold and hot wallet, hardware wallet,
multi-signature wallet, multiregional backups and multi-user backups,
always ensuring user-asset security. All those schemes have a high cost,
require a complex operation and a strict management process, which have
also been the hindrance to the adoption of blockchain assets by many
financial institutes such as global banks and other conglomerates.
On the road to exploring a decentralized approach
After deep consideration, we’ve commenced to solve asset security
issues with a decentralized approach since 2018, initially proposing the
concepts of Revocable Transaction, Clearing Model and Vault Account,
altogether forming the crucial innovation that is GateChain.
-At the end of 2018, the Revocable Transaction and Clearing Model were
successfully verified on the blockchain fundamental structure UTXO,
which significantly boosted our confidence.
-At the beginning
of 2019, the Revocable Transaction and Clearing Model was successfully
applied to the account model and hence the concept of Vault Account was
born for the first time.
-In late April,2019, we launched
GateChain, the secure public chain project, highly anticipated by an
eager community, gaining extensive traction from the crypto space.
-On September 30, 2019, GateChain Testnet 1.0 was launched and
presented a creative solution for security issues such as loss of
private keys and assets being stolen, becoming a unique characteristic
with regards to asset security preservation, successfully demonstrating
its use case to the public.
After the launch of the Testnet,
we received constructive feedback from users and we upgraded the network
accordingly. Testnet 2.0 and Testnet 3.0 were launched on December 24,
2019 and April 25, 2020 respectively.
-On May 13th, 2020,
Gate.io started GateChain's First-Ever Governance Voting. According to
the result, GT was adopted both as platform and mainnet tokens without
issuing GC; 30 million GT tokens from the team will be used for staking
rewards through PoS mining.
-The launch of Testnet 4.0 on May
27th, 2020 marked the release of the last testnet of GateChain in the
run-up to the implementation of its Mainnet. We sincerely appreciate
those users who were very eager to take part in our large-scale
consensus and stability test conducted by hundreds of nodes deployed
around the world.
Intelligent public chain, hard-core launch
Today, with unparalleled enthusiasm and joy, we declare that the GateChain Mainnet 1.0 has officially been launched!
The Mainnet features revocable stolen assets, retrieving assets when
private keys are lost, post-quantum attack prevention, PoS mining
participation, double profits of loyalty nodes, high decentralization,
high-performance consensus structure, supporting one-tap chain issuance
and so forth. Meanwhile, the Mainnet embraces a strong eco,
supporting wallet services in many forms, such as a desktop version,
Android version, iOS version, web, touch-id hardware and multi-signature
wallet.
Additionally, the Mainnet is in favor of anti-theft
monitoring services, providing comprehensive security schemes for users
even in the financial field. Please join us while we cover each
innovative feature of GateChain! Here we go:
1. Innovative Vault Account, revocable stolen assets
GateChain adopts a dual storage mechanism of Normal Account and Vault
Account that features revoking assets that have been being stolen. The
transaction created by the Vault Account is revocable. Users are able to
initiate a "Revoke" request within the Revocable Delay Period.
The stolen transaction will be revoked and moved to the “Retrievable
Account.” Together with the features of management of Multisig Account
management, assets transfer , and the backup recovery of private
keys, GateChain has achieved almost 100% asset security. The usage of
cold wallet and hardware wallet further consolidates the safety issues,
offering a bank-level asset security storage scheme.
2. Innovative Clearing Mechanism, Retrieving Assets When Private Keys are Lost
The dual storage mechanism of GateChain can not only revoke the stolen
assets but also retrieve the assets when the private keys are lost. When
the private keys are lost, GateChain will settle the trading and
transfer the assets of the lost account using Vault Account,
significantly safeguarding the assets in the event of unexpected damage.
3. Touch-id hardware wallet, to be delivered in August
The brand-new hardware cold wallet featuring built-in GateChain
signature algorithm and touch-id encrypted technology provides a safer
and more complete cold storage scheme for users, enterprises and
financial institutes. The hardware wallet not only supports functions
such as GT asset management and PoS mining but also tens of public
chains including BTC, ETH and EOS and thousands of tokens. Gate.io users
will be able to test beta versions of the wallet around August.
4. Massive assets transfer , real-time anti-theft monitoring
GateChain has implemented a massive asset transfer feature,
monitoring the flow of assets in a real-time manner. An will be
activated once the assets of the Vault Account are moved without the
owner’s consent. And the assets of Vault Account can be revoked within
the Revocable Delay Period so as to ensure users’ on-chain assets
security.
5. High performance and handling capacity with over 2,000 TPS
In the pressure measurement tests, GateChain’s handling capacity
reached 2000+ TPS and 170 million transactions per day with an average
block interval of 4 seconds. Compared to the 7 TPS of traditional
Bitcoin networks, GateChain has facilitated a breakthrough in regard to
TPS speed without causing network congestion problems, paving the road
for GateChain to deal with substantial transactions in the future.
6. High decentralization with over 1,000 nodes
With a highly decentralized and fully open mining participation
approach, every miner can become a supernode to participate in PoS
mining. Those who do not feel like building their own nodes can also use
one-tap PoS mining through proxy to gain profits.
In order to
incentivize the decentralization of each node and avoid the occurrence
of node conspiracy, GateChain is also equipped with innovative features
such as regulating mechanisms and allowing the low-staking nodes to
harvest larger profits. With an open participation approach, GateChain
has excluded the centralized control from supernodes, guaranteeing an
entirely decentralized experience to users.
7. PoS mining participation via Supernodes and Delegation
Currently, there are two ways to take part in the PoS mining:
1) Building a GateChain full node and being the consensus account.
Users are able to build a node to participate in the consensus without
being charged any handling fees. Besides the rewards gained from PoS
mining, users could also accept the delegation from the Normal Account
and get the delegation handling fees (full node building instructions
will be released when the Mainnet runs stably. Please stay tuned!)
2) Delegating GT to other consensus accounts. If the Normal Accounts do
not want to build their own nodes and become the consensus account,
they could choose to delegate their GT to another consensus account to
gain mining rewards. The proxy feature can run in CLI, API, desktop
wallet and mobile App wallet through Normal Account while the Vault
Account does not support the proxy feature.
Users need to pay a
fraction of mining rewards (in accordance with the requirement of
trustees) to the entrusted full nodes. In addition, GateChain allows
users to delegate the stake to multiple full nodes in batches. The
delegator could terminate the delegation anytime and the benefits will
be transferred to the accounts immediately with the principal being
transferred back to the balance after 21 days.
8. Double profits of loyalty nodes & enhanced security with loyalty factor
Loyalty factor increases PoS security and brings double profits to loyal nodes. The specific mechanism is as follows:
1) Proposed nodes have a chance to be selected as leader among the nodes, increasing loyalty factor.
2) Loyalty factor of malicious nodes will be deducted.
3) Loyalty factor will be deducted when the token is transferred outside the chain.
4) Finished the feature of loyalty factor deduction for off-line
consensus accounts; for consensus accounts that haven’t participated in
the consensus mechanism for a long period of time, their loyalty factor
would be deducted and included in the block header every 1000
transactions.
9. Innovative regulating mechanism & strengthened decentralization
In an attempt to enhance decentralization against node conspiracy,
GateChain has implemented an innovative regulating mechanism where stake
ratios of nodes can be regulated automatically, enabling nodes with
smaller stake ratios to receive higher earnings.
10. 4 second-long block confirmation
With regard to the network performance, to ensure a balance between the
confirmation period and the storage space, GateChain has employed a
Practical Byzantine Fault Tolerance (PBFT) where a block is confirmed in
four seconds on average, leading to a TPS far beyond that of other
mainstream public blockchains.
11. Automatically prevent empty blocks, saving substantial resources
Considering the limitation of storage space, GateChain has applied a
mechanism where the confirmation period for empty blocks is extended. In
other words, an empty block will not be confirmed until 30 seconds. In
this case, the storage space of the decentralized ledger is saved
considerably, ensuring the network is decentralized throughout
transactions.
12. Automatically adjusting handling fees, avoiding junk trading
GateChain makes it possible for consensus nodes to earn “proxy” fees
along with mining stakes and transaction handling fees. With a minimum
fee threshold, the network follows a model where transactions are
packaged in an extended period in the event of insufficient transaction
demands, especially when the transaction handling fee is relatively low.
The “proxy” fee rate can be determined when a transaction is initiated.
13. Post-quantum feature, preventing decryption from quantum computers
GateChain is able to secure users’ assets with a high post-quantum
capability. As quantum computers continue to make more waves around the
world, a number of blockchain projects like Bitcoin and Ethereum are
subject to the threat of Grover's Algorithm and Shor's Algorithm. It’s
expected that quantum computers might be capable of cracking Bitcoin’s
encryption in a span of mere years.
In order to turn back the
tide, GateChain has been engaged in ramping up its post-quantum
security. Composed of a 40-16-byte hash string, its mainchain address is
inherently resistant to quantum computing attacks.
14. High-performance underlying architecture equipped with a one-tap chain issuance feature
GateChain has built up a brand-new underlying network architecture and
consensus protocol, considerably enhancing TPS while securing nodes in a
decentralized network. The GateChain team will make its underlying
architecture open-source, along with the implementation of a one-tap
chain issuance feature that drastically lowers the technical threshold.
15. Bank-level blockchain security schemes
To speed up blockchain adoption, GateChain has been committed to
ensuring the security of on-chain transactions, rolling out a Vault
Account feature that allows for retrievable assets
and recoverable
private keys. Combined with its multi-signature wallet and hardware
wallet, the Vault Account offers close to 100% asset security for
individuals, enterprises, and the banking industry.
16. Decentralized digital assets inheritance schemes
GateChain Vault Account supports personal assets allocated safely and
automatically to designated persons at a predetermined time in the
future. During this time, there is no risk of private key loss or funds
being stolen. As long as a user sets up digital asset allocation and
release time through GateChain before his/her death, the allocation of
the digital assets will be transferred to the designated person safely
at a predetermined time. In a decentralized way, this will be the first
time digital assets inheritance is realized.
17. Comprehensive eco supporting desktop version, mobile version, Web version, and hardware wallet
The Mainnet launch has gained strong eco support in all-platform
wallet services, such as Desktop Wallet, Android App Wallet, iOS App
Wallet, Web Wallet, touch-ID and multi-signature wallet. This has
provided individuals and will provide the financial industry with
all-round solutions regarding safety.
18. Available PoS proxy mining with one-tap-to-participate feature
PoS mining through proxy (Delegation) has been launched in the Testnet.
Users who are not able to build their nodes, can use one-tap PoS mining
through proxy with the proportion of GT according to their needs. Users
click on "delegate" in the desktop wallet and choose the proportion of
GT (the proportion of GT is not the funds, so it will not affect the
safety of your funds).
This way users delegate a certain
mining node to do PoS mining. Within seconds, mining will start to
generate profits. Users can cease the delegation at any time, profits
will be transferred into the account immediately, and any principal will
be returned in the account in 21 days.
19. Multi-signature; enterprise-level management schemes
GateChain supports mature multi-signature schemes. Regardless of normal
accounts or Vault Accounts, multi-signature is available. Signers of
multi-signature are able to manage digital assets under the same account
in a customized way. By way of team-oriented management and personnel
redundancy backup, it can reduce the risk of one-node attacks and solve
the malfunction of one-node availability, fulfilling the needs of banks
and enterprises.
GateChain Builds the Future
After GateChain’s Mainnet launch, we will be focused on cross-chain,
smart contracts, DEFI, DEX, privacy protection, etc. Meanwhile, we will
try to resolve the challenges of cross-chain assets between GateChain
and mainstream networks such as BTC, ETH, Cosmos, Polkadot and Zcash.
With all these, users are able to simultaneously enjoy features of
other networks such as high market value, smart contract, privacy
protection, DEFI, and receive safety protection from GateChain. All
users around the world are welcome to join, suggest and develop
together.
We will work together with users to improve the
safest public chain - GateChain with strong effort and innovation.
Finally, we aim to completely solve the safety issues in the industry by
decentralization, and open up a new way into the world of blockchain
away from the traditional financial industry.
How to join GateChain Mainnet 1.0
GateChain has provided different types of wallets for individuals,
professional and enterprise users. Individual users can join by using
desktop wallet (Windows and Mac OS supported), or Wallet.io App or Web.
Professional and enterprise users can join by full node and API.
Individuals can refer to the illustration of wallet usage:
https://www.gatechain.io/docs/cn/gatechain-wallet/ (not sure if this
link needs to be changed) or watch the video below:
How to participate in GateChain Mainnet 1.0 PoS proxy mining?
PoS mining through proxy (Delegation) has been launched in the
GateChain Mainnet. Users who are not able to build their nodes, can use
one-tap PoS mining through proxy with the proportion of GT according to
their needs.
To experience one-tap PoS mining through proxy, please download the newest desktop wallet (Windows and Mac OS supported):
https://www.gatechain.io/wallets
Users can also refer to Wallet.io in App or Web to try PoS proxy mining:
https://wallet.io/
First Time Users:
Users need to set a password (password will not be uploaded to the
server) to sign in after installation. This way, the wallet is
password-protected.
Click into Wallet:
Users need to
create a normal address (Normal Account) and set an independent password
for their funds. After getting into their address, test tokens can be
acquired by a one-tap mechanism. It will appear in the account within
seconds. Click on "delegate" and choose the proportion of GT (the
proportion of GT is not the funds, so it will not affect the safety of
your funds). In this way, users delegate a certain mining node to do PoS
mining. After seconds, mining will start to make profits.
Users can apply for Mainnet test token (0.1GT each user) in Desktop Wallet, and make use of transfer and PoS proxy mining.
Currently, users can delegate any one or more of the following mining nodes to do the test:
gt11dgyjj07x8l7qdvagswm5ch7an5ser7l5cm76z53q5cg7whjrmw55lsxj8d8gr9k9t7mqvd
gt117w9392a2f5cn9m8wphpygf5lr59g4gcmp6y0glg9644vmuqlhxt90f2fv5sgs79at59dh3
gt11vga39n8kuq3d594gkwhlut2a3tyme5j002hz09w5fywplwa5p6s7x0cqwjx2fvn6l70mjh
gt11pcj5hmqu8mvjecs0fdtdy9f9vl7q2fqrwcdknd6m9dulkejhfcv3dl07p07dwk2se3pvkz
gt11jqdvalnkj56g2tyv89vkhkns735x7glvmm2qq79l90cje5vlvx4uaa4lk8ydgrwu8x3zgw
gt11f5mjkln8l8r5xvm5wf52uyf6g6qtvqyhsx7944l4m72zw59hw3tyl7j928ux90xrjys6rn
gt11hzk52hzurkktwvx75rkczpa635jqjss9hmfncms7h4ahk4zdzxv8ernkwzshrfqm9x0803
gt11tvmjw7pwr7pewg07xhcawaep6x4ly0mwcqxl7l76xrt2a855fhc5hp4z0cvyhxw4hklagc
gt11p2l9ftzcxejyp882xlvhczlg32atsw2huqanq9efmscuy04uc6n43h2n059gyapg72zy44
gt11f9z5wnrgpn0drrgxzjy5gthuk6eqaaphqkdtqteq5sern6huut5c092l8le8ap7que2t80
Download GateChain Mainnet Wallet
Desktop version (for Windows and Mac OS):
https://www.gatechain.io/wallets
User instruction:
https://www.gatechain.io/docs/cn/gatechain-wallet/
Wallet.io now also supports GateChain Testnet in both mobile app and Web.
Download Wallet.io mobile App at:
https://wallet.io/download (open app and enter “GT_TEST)
Visit Wallet.io via Web:
https://wallet.io/ (log in and enter “GT_TEST)
GateChain Mainnet Documentation
Instructions & Dev. Doc (English):
https://www.gatechain.io/docs/en/
Instructions & Dev. Doc (Chinese):
https://www.gatechain.io/docs/cn/
Github (English):
https://github.com/gatechain/gatechain-docs/tree/master/en
Github (Chinese):
https://github.com/gatechain/gatechain-docs/blob/master/cn
GateChain Research & Lectures
1. Gate.io Research: An Overview of Blockchain Technical Challenges
& GateChain’s Innovations
https://www.gate.io/help/research/17166
2. GateChain Lead Architect YiXiu: Public Blockchain and its Technical
Challenges (1)(in Chinese)
https://www.gate.io/help/research/17166
3. GateChain Lead Architect YiXiu: Public Blockchain and its Technical
Challenges (2) (in Chinese)
https://www.gate.io/help/livetext/17145
4. GateChain Lead Architect YiXiu: Public Blockchain and its Technical
Challenges (3) (in Chinese)
https://www.gate.io/help/livetext/17146
5. Gate.io Live with YiXiu: Quantum Attacks on Blockchain (1) (in Chinese)
https://www.gate.io/help/livetext/17162
6. Gate.io Live with YiXiu: Quantum Attacks on Blockchain (2) (in Chinese)
https://www.gate.io/help/livetext/17163
7. Gate.io Live with YiXiu: Quantum Attacks on Blockchain (3) (in Chinese)
https://www.gate.io/help/livetext/17164
GateChain Eco
GateChain eco comprises GateChain mainnet, GateChain DEX,
GateChain Token (GT), all platform wallets, touch-id hardware wallet
etc. They form a decentralized eco characterized by
enterprise-grade safety and efficiency for digital asset storage,
issuance, and trading, presenting a novel solution to blockchain
transaction safety.
The main features of GateChain eco can be listed as follows:
1) Transfer/payment:Using a wallet or client-side App, users can send
and receive GateChain Token (GT), as well as other popular on-chain
assets.
2) Asset issuance: Users can issue and use their own
tokens (e.g.GT) to digitize and manage their assets. For more details,
visit Asset Management.
3) Decentralized cross-chain
transaction:GateChain provides support for high-performance
decentralized trading among different digital currencies.
4)
Asset safe storage: With a uniquely designed vault account and a
clearing technology, an account can have comprehensive protection and
support revoking /clearing operations targeting abnormal transactions.
For more details, visit Transaction Protection.
5)
Multi-signature: Multiple signers can share ownership of one account,
and get customized management over their digital assets, which best fit
the enterprise demands. For more details, visit Multi-signature.
6) POS staking reward: GT works as a stable incentive for users
participating in PoS staking, which safeguards the robustness of
underlying blockchain.
7)Touch-id hardware wallet: Supporting
GT signature algorithm, providing a convenient and reliable cold wallet
scheme for GateChain security issue.
GateChain Public Blockchain
GateChain is a novel next-generation public blockchain, focused on
on-chain asset safety and decentralized exchange. With a unique Vault
Account technology and its supporting transaction model design,
GateChain has implemented a guaranteed safe clearing mechanism,
creatively solved the challenging problem of asset theft and missing
private keys.
It also supports decentralized trading and
cross-chain transfers among other core applications. Compared with
traditional blockchains, such as Bitcoin and Ethereum, GateChain focuses
on on-chain asset safety. It creatively proposes several novel
concepts, including Standard Account, Vault Account, Retrievable
Account, Clearing Height, Revocable Delay Period, Address Type,
Transaction Type, etc.
GateChain Token
GateChain
Token(GT) is the native currency of the GateChain mainnet. It is used to
pay transfer fees on GateChain’s network and works as the incentive
reward for PoS staking. It is fundamental to GateChain’s network.
GateChain Token (GT) is an important eco member for the Gate.io
exchange. The value of GT increases based on a deflationary model which
includes buy-backs and token burning etc.
GateChain Typical Application
GateChain offers two types of accounts, Standard Account and Vault
Account, to meet the efficiency demand in daily payments and safety
demand in asset storage. Standard Account allows instant payment and
transaction is irreversible. It does not allow restoring lost private
keys, similar to the features of a bitcoin address. The on-chain Vault
Account, a major novel creation of GateChain, allows revocable
transactions and private key restoration. By combining both types of
accounts, GateChain provides all-round safety features to its users.
1. Individual assets management:
GateChain provides individual users with two types of accounts, a
Standard Account, and a Vault Account. Standard Account is used to store
a tiny fraction of assets for daily use while Vault Account is used to
store the majority which doesn’t need to be accessed immediately. The
vault account can set a transfer delay period, 2 days for example.
For everyday transactions, users can use assets in the Standard Account
just as if they were using bitcoin: the transaction is confirmed upon
payment and is irreversible.
In the worst case when the
Standard Account’s private key is lost or stolen, their loss is limited
to a small portion. Risk is still under control. When the asset in the
Standard Account is insufficient, the user can transfer more from the
Vault Account based on his plan and intent. The transfer will be
received with a 2 days (example) delay. If theft is concluded during the
delay period, the user can simply initiate a "Revoke" request. The
stolen transaction will be revoked and moved to “Retrievable Account” so
that the loss can be avoided altogether.
2. Legacy or Grant auto-release:
Digital asset inheritance has been a headache for many as it cannot be
handled by a middle man like bank assets and real estate under the
existing applicable laws. The private key of digital assets is usually
kept by the holder themselves for security reasons.
Without
complicated processing procedures, digital assets will be frozen forever
following the death of the holder and leave his lawful heir no way to
access their legacy. Vault Account at GateChain supports releasing
digital assets at a preset future time point to a predefined
beneficiary, without worries about private keys missing or theft during
this period.
As long as one can set a digital asset
distribution ratio and release time when they are able to do so, their
digital asset will be transferred to their named beneficiary
accordingly. This asset processing method can also be used in other
scenarios like scheduled fund granting. For example, if parents want to
give their children some digital assets when they are 18 years old to
fund their development after they have grown up. The parents can specify
at their own Vault Account to send a certain amount of digital assets
to their children when they are 18 years old.
3. Safe Storage of Bank Asset:
Bank asset storage demands an extremely high level of safety. The
prevailing mechanisms in the blockchain industry are cold storage and
hardware wallets. But these mechanisms can not 100% guarantee the safety
of blockchain assets, especially when it comes to asset risks arising
from private key damage. These issues have significantly limited the
possibility of massive blockchain asset adoption.
With
GateChain’s Vault Account, banks can set a longer transfer delay time to
significantly reduce asset storage risk. Besides, GateChain also
supports Vault Accounts cascading, which can exponentially reduce the
risk of theft.
In practice, GateChain can achieve approximately
100% safety for asset storage at a very low cost. Just like the
possibility of Bitcoin being brute force attacked is close to zero in
practice, though not 100% safe in principle, it already facilitates 100%
safety in practice. In addition, pocket money wallet and hardware
wallet technologies can still be used to give it further protection
(layers).
GateChain Academic Research
To promote the
development of blockchain technology and its applications in the real
world, GateChain research focuses on studying principles and
applications around on-chain trading safety.
The major innovation of GateChain is:
1) It puts forward and has implemented an on-chain “Vault Account”.
This type of account has safety features allowing revocable transactions
and damaged private key restoration, thus providing a novel blockchain
safety solution to individuals, enterprises, and asset sensitive banks.
2) A transaction model that supports retractable logic which is called RTM (Revocable Transaction Model).
Please refer to GateChain Academic Research for more detail: https://www.gatechain.io/docs/en/gatechain-research.html
GateChain Terms
As an innovative public chain focusing on on-chain asset security,
GateChain introduces a number of new concepts. GateChain hopes to help
users understand GateChain security logic more comprehensively by
providing the definition of the concepts. Also, for the consideration of
transaction security, GateChain innovatively puts forward the
identification of address type and transaction type to facilitate the
user to effectively identify different account types and transfer types,
to avoid user misoperation.
GateChain Basic Concepts
GateChain is a novel public chain. Its principle research has
introduced many novel concepts that form the principle fundamentals for
facilitating complete self-consistency in assets safety.
Standard Account:Account similar to a Bitcoin address that can store
assets and is suitable for daily use. Assets in this type of account can
be sent instantly and the transaction is irreversible once confirmed on
the blockchain. Lost private keys cannot be restored.
Vault
Account:GateChain’s novel creation. This is a new type of account that
allows revocable transactions in case of theft and private key
restoration in the case of lost or damaged private keys. The transfer of
assets in this type of account has to wait for a preset period of time.
It is suitable for storing and protecting a large amount of assets that are not meant to be accessed immediately.
Revocable Delay Period :The time duration within which transaction
transfer from the Vault account is revocable. During this time of period
(calculated by blocks), recovery of transaction is possible by
initiating a "revoke" operation to return the transaction to “Retri
Account’.
Retrievable Account:The preset account bound to a
Vault Account. When a transaction in the Vault account is revoked, the
transaction asset will be moved to this account.
Clearing
Height:Referencing a future time. At the time when this future block
height is hit, the asset in the account will allow clearing.
Revoke: When the transaction initiated from the Vault Account is still
in the revocable delay period, the “revoke” operation can be initiated
to return the asset to “Retri Account’.
Revocable
Transaction:Any transaction initiated from the Vault Account is a
potential revocable transaction, which allows for revoking to move the
asset to “Retri Account” during the revocable delay period. After the
revocable period, the transaction can not be revoked.
Irrevocable Transaction:Transaction initiated from Standard Account. It is irreversible once it is confirmed on the blockchain.
GateChain Address Types
GateChain has two main account types, Standard Account and Vault
Account, with different identifiers at the start in their addresses.
Standard Account:starts with “gt’’. “gt1” indicates a single- signature
Standard Account, and “gt2” indicates a multi-signature Standard
Account.
Vault Account:starts with “vault’.“vault 1” indicates a
single- signature Vault Account, and “ vault2” indicates a
multi-signature Vault Account.
With the address identifier
mechanism invented by GateChain, the recipient account can easily
identify the sending account’s type and set confirmation requirements
accordingly. If it is from a Vault Account, confirmation is safe only
after the revocable delay period.
GateChain Transaction Types
GateChain has many transaction types. To identify different transaction
types efficiently, GateChain creatively provides a transaction type
identifier.
Below are identifiers of which the different transaction types start with:
Irrevocable Pay:“IRREVOCABLEPAY-”
Revocable Pay:“REVOCABLEPAY-”
Account Set: “ACCOUNTSET-”
Vault Create:“VAULTCREATE-”
Revoke: “REVOKE-”
Vault Clear:“VAULTCLEAR-”
Untitled: “BASIC-”
GateChain Technical Parameter
A Byzantine Fault Tolerance (BFT) mechanism is applied in which a block
is confirmed in 4 seconds. With 2000+ TPS for 1000+ consensus nodes,
block congestion is no longer a concern.
Quick Start
GateChain desktop wallet instruction at
https://www.gatechain.io/docs/en/gatechain-wallet.html
Visit GateChain testnet explorer at
https://explorer.gatechain.io
GateChain Full Node
Full Node and Local Testnet: Anyone can build a full node and run their
testnet. A full node has all the functions GateChain has. Detailed
installation visit Install and Deploy.
Join Testnet: A full
node can connect to the public testnet (use the same version of testnet
))to monitor and broadcast transactions and block updates and other
tasks in real-time in the network.
GateChain Command Line Interface
Command Line Interface: Besides wallets, we also provide client
programs, which can interact with GateChain using a command line. Many
operations can be done to an on-chain account using a command line
interface, including account management, transaction management, and
asset management. In addition, a simple inquiry into on-chain data is
also allowed using a command line interface, such as the inquiry of
account balance, and other transaction details. For more details visit
Command Line Interface Reference.
GateChain API
API:GateChain node provides API interface service, related API information visit 'API' at
https://www.gatechain.io/docs/en/API/
We look forward to creating a new gateway together with you!
GateChain Team
June 29th, 2020