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 has 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 solving 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.gatecn.io/help/research/17166
3. GateChain Lead Architect YiXiu: Public Blockchain and its Technical Challenges (2) (in Chinese) https://www.gatecn.io/help/livetext/17145
4. GateChain Lead Architect YiXiu: Public Blockchain and its Technical Challenges (3) (in Chinese) https://www.gatecn.io/help/livetext/17146
5. Gate.io Live with YiXiu: Quantum Attacks on Blockchain (1) (in Chinese) https://www.gatecn.io/help/livetext/17162
6. Gate.io Live with YiXiu: Quantum Attacks on Blockchain (2) (in Chinese) https://www.gatecn.io/help/livetext/17163
7. Gate.io Live with YiXiu: Quantum Attacks on Blockchain (3) (in Chinese) https://www.gatecn.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
