GateChain is a new-generation public chain that focuses on user asset security and decentralized transactions. With an original online thermal insurance account, the liquidation guarantee system creatively solves the core basic problems of the industry such as theft of user digital assets, damage and loss of private keys, decentralized transactions, and cross-chain transfers. With six years of blockchain technology accumulation, two years of dedicated research, a technical team of 100 people, relying on excellent innovation capabilities and strong financial strength, we have created a revolutionary blockchain GateChain.

Project Introduction

GateChain uses a unique account transfer rule to allow the original holder to redeem the funds in case the funds in the user's hot wallet are stolen, protecting the security of the user's assets. At the same time, when the private key is damaged and lost, it will help the user to recover the funds and avoid huge losses caused by the holder's carelessness. This revolutionary innovation will clear the way for blockchain assets to be accepted by the general public.

GateChain Token (GT) is the original asset of GateChain's main network, supports the infrastructure of the main network, is the fuel of GateChain's main network, pays network transfer fees, and is the PoS mining reward of GateChain. At the same time, GT is also an important ecological member of the Gate.io platform.

Ecology

GateChain ecology, including GateChain main chain, GateChain DEX, GT, wallet, etc., has built an enterprise-level safe and efficient decentralized digital asset storage, publishing and trading ecosystem, providing a brand new blockchain Secure Transaction Solutions,

The ecology mainly provides the following functions:

Transfer payment: Support users to send and receive GateChain Token GT and other assets on the chain using wallets and clients.
Asset issuance: Issue your own Token to realize asset digitization, and use GT as a transaction carrier to manage your own 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: The account is fully protected through the original insurance account technology and liquidation guarantee system, and the cancellation/liquidation operation of abnormal transactions is supported. For details, please refer to Transaction Guarantee.
Multi-signature: Multiple relevant signature owners can customize the management of digital assets under the same account to meet enterprise-level needs. For details, please refer to Multi-signature.
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 Vault Account, which take into account the fast and efficient needs of daily payments and the safe and reliable needs of fund storage. Ordinary accounts are similar to bitcoin operations and support fast payment of account funds, but cannot be withdrawn after payment, and once the account private key is lost, assets cannot be recovered. 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 features.

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 users use daily, and the insurance account stores funds that users do not need to use temporarily. Funds in the insurance account can be set with a delayed withdrawal time, for example, 2 days.

2. Automatic release of personal inheritance or gift:
The handling of digital inheritance has always been a headache, because unlike bank funds, assets such as real estate can be disposed of by others through legal channels. The private keys of digital assets are basically kept by themselves 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 target personnel at a certain time set in the future, and there is no need to worry about the risk of private key loss or fund theft during this period. Therefore, as long as the individual sets the digital inheritance distribution ratio and release time through GateChain before his death, he can safely and securely transfer the digital inheritance to the designated person at the designated time.

3. Safe storage of bank funds:
The storage of bank funds has extremely high requirements for security. Currently, the main mechanisms adopted in the blockchain are off-chain cold storage and hardware wallets. However, these mechanisms cannot guarantee the security of blockchain assets 100%, especially the risk of asset loss caused by the destruction of the user's private key cannot be solved. These issues limit the potential for mass adoption of blockchain assets.
With GateChain insurance account storage, the bank can reduce the risk of fund storage by setting a longer delay for withdrawing time. On the other hand, GateChain supports insurance account cascading, which can exponentially reduce the risk of fund theft.