GateChain Testnet 4.0 Launch

About GateChain Testnet4.0

Gate.io launched GateChain Testnet 1.0 on September 30th, 2019 when the concept of blockchain Vault Account was born for the first time. GateChain creatively presents a solution for security issues such as loss of private keys and assets being stolen. 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, solution 2.1 was exercised: adopt GT 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.
Today, we are happy to announce the final important upgrade and performance optimizations of GateChain’s Testnet before the launch of GateChain’s Mainnet: GateChain Testnet 4.0 launch! The improvements include:
Staking rewards for PoS mining from solution 2.1

Changelog of GateChain Testnet 4.0

1. Adopted GT as the mainnet token of GateChain
1) GT now serves as the only token for PoS mining reward and handling fee.
2) NANOGT is speculated as the on-chain token unit
2. Supported HD derivative wallets
(1 GT = 1 * 10⁹ NANOGT)
1) Thanks to the ED25519-based private key derivative method, wallets on the main chain can now be compatible with third-party wallets.
2)Open source of code is available at http://github.com/gatechain/crypto
3.Applied post-quantum addresses
1) The addresses on the main chain have been modified to 40–16-byte array, which is of greater post-quantum capacities, ensuring users’ assets are securely protected.
Modified the PoS mining ratio
4. Modified the PoS mining ratio
1) 30,000,0000 GT will be minted linearly as PoS reward over 10 years, with 0.4 GT reward per block.
2) 20,000,000 GT will be released linearly in 2 years, which will not enter into circulation and can only be sent to an address destined for burning.
5. Adopted parallel computing in block verification
1) Under multiple proposal mechanisms, the consensus nodes parallelly compute the proposed blocks through adopting a pre-ution method to store the ledger, significantly improving consensus efficiency and processing capability.
6.Optimized the stability of Committee Consensus
1)Optimized the lag of consensus caused by network instability.
2)Increased predetermined scheme to rapidly reach consensus when period>3, preventing the decline of TPS if the consensus is not reached for a long time.
7. Set features of prior packing with handling fees and lowest handling fees
1)Consensus accounts are able to set the lowest handling fees and time of packing or prior packing with handling fees.
8.Improved loyalty factor mechanism
1)Proposed blocks have a chance to be selected as the Committee leader, 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.
9.” Suspend mining block” strategy
1)Postpone the mining of a new block when there is no transaction, preventing data explosion at a later period.
10.Optimized Tx Index Service
1)Optimized speed of search and storage structure, providing an effective and convenient interface including search engine of transaction and accounts.
2)Individual users can set “off state” of this service to save usage storage.
3)Institution users can set “on state” of this service to develop blockchain applications.
11.Enhanced efficiency of blockchain browser
1) Optimized data-processing of browser, coping with high pressure of 2000+ TPS and limiting lag within 10s.

About GateChain Mainnet

GateChain not only has its unique asset security features, but it also comes with great network capacity. With the new GateChain underlying architecture and consensus mechanism, the TPS of GateChain has increased considerably. It can effectively protect the security of nodes, lower the barriers for users to join the network, hence making the network more decentralized. For the new underlying architecture and consensus mechanism, we have built a single module and will launch it as an independent project. The new module will be equipped with the one-tap chain issuance feature, which enables other blockchain development teams to utilize GateChain’s technology under the respective open source and intellectual property right related protocols.
We will release GateChain Mainnet 1.0 before the end of June 2020. The launch will include bug fixes, performance optimizations. We are looking forward to the upcoming mainnet launch and the change it is about to bring to the community. Please stay tuned for the development of GateChain.

How to Participate in the Gatechain Testnet 4.0 Testing

Gatechain provides different types of wallets for both regular, professional, and corporate users. During the testnet phase, regular users can try out the wallets by using the Windows and Mac OS desktop versions. Professional and incorporated users can visit the testnet via full nodes or API.

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