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Blockchain assets exchange platform, Gate.io presented GateChain Mainnet’s unique features at Malta AI & Blockchain Summit. GateChain is a novel solution to the transaction safety issues in blockchain technology. GateChain is an innovative next-gen public blockchain, which solves security issues and guarantees asset safety even after losing private keys. GateChain’s on-chain asset safety and decentralized exchange sets itself apart from the other traditional blockchains, such as Bitcoin and Ethereum.
“It is exciting to witness this revolutionary journey with our users as we continue to receive feedback and suggestions from our users after the recent launch of the GateChain Testnet. We believe Gatechain will redefine blockchain security, leading to a brighter future for all blockchain enthusiasts. With a unique Vault Account technology and supporting transaction model design, GateChain has implemented a guaranteed safety mechanism, addressing challenges of asset theft and missing private keys,” said Marie Tatibouet, CMO at Gate.io.
What can Users Expect – Main Features of GateChain
GateChain’s unique on-chain vault account protects onchain assets from thieves and its fund recovery mechanism can recover onchain assets from losing private keys.
GateChain’s high speed blockchain comprises 1 second block and instant block finality. Users can enjoy Proof of Stake with low energy consumption, a low inflation rate, and other benefits for the holders.
There is a real time order placing and matching decentralized exchange with cross-chain which brings easy blockchain token issuing and cross-chain transfer. The holistic ecosystem comprises personal wallets, enterprise multi-sign wallets, hardware wallets, and exchanges.
GateChain Ecosystem and Innovation in Technology
The major innovation behind GateChain is its on-chain “Vault Account” with safety features that allow revocable transaction and damaged private key restoration, providing a unique blockchain safety solution to individuals, enterprises and banks.
GateChain’s robust ecosystem comprises GateChain blockchain, GateChain DEX (decentralized exchange), GateChain Token (GT), and GateChain wallet characterized by enterprise-grade safety and efficiency for digital asset storage, issuance and trading.
While GateChain has implemented a guaranteed safety mechanism, GateChain DEX has an ultra-high-performance matching engines and low participation costs. It supports cross-chain transfer for multiple currencies and uses privately owned encrypted wallets to safeguard users’ assets, solving the challenge around fund safety centralized exchanges face.
GateChain Token (GT) is the native currency of the GateChain Mainnet used to pay the transfer fee on GateChain network and is a fundamental part of the GateChain ecosystem.
GateChain offers both standard and vault accounts to meet the daily payment demand and storage assets safely and efficiently. While, the standard account allows instant payments where the transaction is irreversible, the onchain vault account allows revocable transactions and private key restoration, providing complete safety to the users.
GateChain brings 100% asset storage safety at a very low cost, making it immune to brute-force attacks.
Gate.io is a global blockchain asset exchange platform operated by Gate Technology. Established in 2013 and developed fully in-house, Gate.io enables blockchain enthusiasts to trade and store assets in over 200 of the leading crypto currencies. Recognising the importance of blockchain security, Gate.io sets itself apart by prioritising security and experience, providing users with quick and easy access to assets, at a time and place to suit them.
GateChain is industry’s first innovative public blockchain that aims to revolutionize the paradigm of security in the blockchain space. GateChain is a novel solution to fund safety and its decentralized exchange guarantees asset safety even after the destruction of private keys, bringing 100 percent asset storage safety at a very low cost.