Discover GateChain: Values, Efficiency, Technology

1、GateChain Position

In 2018, Gate.io, the world's top 10 exchange, decided to launch its own public chain called GateChain. At Gate.io we noticed that on-chain asset security has always been an area of concern in the blockchain industry and set out to solve it. As a next generation of high performance, public smart chain, GateChain is focused on improving user asset security and enhancing decentralized transactions experience.

We believe ecological diversity is the key to the sustainable development of a public chain. And so, the EVM (Ethereum Virtual Machine) is the smart contract engine of GateChain. Therefore, any Ethereum-based smart contract can be easily deployed and run smoothly on it. Users and developers familiar with Ethereum can seamlessly access GateChain, which provides convenience for all outstanding DeFi projects that want to join the ecosystem.

In order to minimize the threshold for users and developers, we expanded the account system and added the "EVM-Account" type to support users and developers migrating Ethereum based products to GateChain without any cost. Also, GateChain supports 0x addresses on Ethereum. It allows users to use one 0x address to manage assets on either Ethereum or GateChain without the hassle of creating new accounts.

It can be seen that GateChain is a programmable public chain that supports smart contracts and is extremely friendly to users and developers.

2、GateChain Performance
The main idea of GateChain's design is to ensure the security of users' assets while improving decentralized transaction experience. After 4 years of research and development, GateChain is now a high-speed blockchain that can support large-scale smart contract transaction throughput!

As the leader in the smart contract public chain domain, Ethereum is now limited in transaction speed. It takes at least 12 to 14 seconds to confirm a transaction on Ethereum. Meanwhile, the TPS(Transaction Per Second) on Ethereum is only about 15 and the daunting transaction fees, makes users uncomfortable. In recent years, the Ethereum ecosystem has been constantly exploring new expansion solutions to solve these problems, but while it lasts, GateChain is a solution.


As a new generation public chain, GateChain has greatly optimized its performance. For instance, producing a new block every 4 seconds, supporting maximum 2745 transactions per second, and costing as cheap as $0.0001 gas fee for a transaction. Blindly pursuing TPS may sacrifice decentralization and security for a public chain. However, GateChain not only ensures good trading experience for users, but also maintains the decentralization and security characteristics of the public chain.

3、GateChain Consensus

Today, PoS (Proof-of-Stake) and PoW (Proof of Work) are the most widely known consensus mechanisms. They are used to ensure that the blockchain network information can reach a consensus among the nodes of the entire network.

The proof-of-work mechanism selects the validator according to the computing power among the entire network nodes in each consensus round. The one who wins obtains the accounting right of the next consensus round. Every node needs to continuously calculate the SHA-256 cryptographic hash function until someone finds the correct hash value to match it when mining a new block. This process is also called "mining", so nodes are also called "miners". Generally speaking, miners need to keep trying different random numbers until someone finds the one that conforms to the SHA-256 algorithm. The first miner who finds out the correct number is responsible for accounting and packaging the block then broadcasting it to other miners. The rest of the miners are responsible for verification. Miners decide whether the block is accepted or rejected collectively. This process is safe, but it consumes a lot of miners’ computing power. And in each round of block generation, only one miner‘s work is valid, and the computing power of the rest nodes is wasted in the competition. BTC mining, a typical case of PoW, wastes a lot of electricity and energy.

PoS (Proof-of-Stake) consensus mechanism was developed to solve the problem of resource wasting. Unlike PoW, which requires miners to continuously calculate random numbers to match the hash value during each consensus round, each miner in PoS consensus only needs to calculate the hash value one time in each round of consensus, which greatly reduces the consumption of miners' computing power. At the same time, the PoS consensus mechanism introduces the stacking parameter to help determine the accounting rights. The staking parameter is related to the proportion of the miners' token holdings and the holding time. The more tokens you hold and the longer the holding time, the greater the equity, the greater the probability of calculating the Hash value that meets the requirements, and the greater the chance of obtaining accounting rights. Compared with PoW, PoS not only consumes less energy, but also has the advantages of low latency and high TPS.

GateChain is a PoS chain. By introducing the VRF algorithm, GateChain supports dynamically selected consensus nodes in real time. It maintains decentralization while taking into account the efficiency. At present, it has a total of 155 consensus nodes, which are distributed all over the world and jointly maintain the good and stable operation of GateChain. In terms of performance, it achieves a 4-seconds new block generation time, a maximum TPS of 2745, and a gas fee as low as $0.0001 per transaction, which brings great convenience to users.

We are proud to announce that as of March 2022, GateChain has had a total of over forty thousand on-chain addresses, with a total transaction volume of over twelve million.
GateChain is constantly improving and progressing, you can follow GateChain official website (https://gatechain.io/) to get real-time information.