GateChain is a public chain that focuses on user asset security and decentralized transactions.

Address digital asset security issues.

In many typical application scenarios, incorrect account operations caused by user misoperations, financial fraud, and illegal hacking attacks need to be undone. Unfortunately, users often blur the concepts of "transaction state revocable" and "business state", leading to the fact that revocable transactions are not currently universally supported by blockchain systems.

GateChain, a blockchain that supports the revocable transaction model (RTM) on a distributed ledger. Specifically, based on state-of-the-art blockchain technology, GateChain can safely withdraw account status change operations with an improved account model and additional transaction types designed.

GateChain main chain implements its own security account model based on UTXO underlying architecture and carries out prototype verification. Subsequently, GateChain architecture was migrated to the blockchain infrastructure supported by Tendermint in order to be more compatible with the cross-chain ecosystem. At the consensus level, Algorand consensus mechanism is used for reference, and VRF algorithm is used to improve security and efficiency. The new architecture using account directly model, focusing on the innovation of the upper-layer protocol, focus on the implementation can withdraw trading and settlement characteristics of unique security account, on the application layer, the new architecture provides a standard interface is used to meet the needs of various upper applications, and provide offline in the SDK way account signature generation and trading and other libraries, It provides a convenient development tool for third-party ecological applications.

The tokens are used for GateChain main network fuel, payment network transfer fees and mining rewards.

VRF algorithm, as a new consensus model based on cryptography,VRF algorithm can generate random numbers with individual attributes and verifiable; This algorithm is suitable for highly decentralized scenarios where nodes need to actively compete to win rather than passively assign. The biggest advantages of VRF are security, posteriori properties, strong anti-attack capability, low demand for computing power (with high economy), and fast consensus. VRF consensus has the shape of PoW algorithm, and the calculation force requirements are low.

GateChain provides two types of accounts, Normal Account and Vault Account, which both meet the needs of fast and efficient daily payment and safe and reliable fund storage. Regular accounts operate like Bitcoin, allowing for rapid disbursements of account funds, but cannot be withdrawn after payment, and cannot recover assets once the account private key is lost. The on-chain insurance Account "Vault Account" is an important innovation of GateChain, which provides important security features such as withdrawal of stolen funds and recovery of lost private keys. The combination of the two accounts provides complete security feature support for GateChain users. 1. Security management of personal funds: GateChain provides general accounts and insurance accounts for individual users. The ordinary account is used to store a small amount of money for daily use, while the insurance account is used to store money that the user does not need to use temporarily. Funds in the insurance account can be set up for a delayed withdrawal time, such as 2 days. 2. Automatic release of personal bequest or gift: Digital inheritance has always been a major headache because, unlike bank funds, assets such as property can be legally disposed of by others. For security reasons, the private key of digital assets is basically kept by the owner without complicated processing. Many people's digital assets will be permanently sealed after death and cannot be obtained by future generations. GateChain's insurance account can support the safe and automatic release of personal assets to target personnel at a certain time in the future, and there is no need to worry about the risk of private key loss or fund theft during this period of time. Therefore, as long as an individual sets the digital inheritance distribution ratio and release time through GateChain before his or her death, the digital inheritance can be safely and safely transferred to the designated person at the specified time. 3. Safe storage of bank funds: The storage of bank funds has high requirements on security. At present, the main mechanism adopted in blockchain is cold storage and hardware wallet. However, these mechanisms cannot guarantee the security of blockchain assets 100%, especially the risk of asset loss caused by the destruction of user private keys. These issues limit the potential for large-scale adoption of blockchain assets. With GateChain insurance account storage, banks can reduce the risk of fund storage by setting a longer delay time for withdrawal. GateChain, on the other hand, supports a cascade of insurance accounts that exponentially reduces the risk of money being stolen.

2. Set up innovative insurance accounts to ensure the safety of fund storage. Insurance accounts use GateChain's original RTM(Revocable transaction model) to initiate transactions from insurance accounts as revocable transactions. Funds can be withdrawn to a "recovery account". The second highlight of insurance accounts is their clearing mechanism. When the user's private key is lost, GateChain can liquidate and transfer the assets in the account whose private key is lost through the insurance account, thus adding a layer of insurance for the assets against the impact of black swan events such as natural disasters and man-made disasters. 4. Byzantine algorithm is optimized to achieve better balance 5. EVM is fully compatible. (1) Smart contract on ETH, BSC and Heco can be deployed in GateChain at zero cost, giving the project side more choices. (2) The new EVM is a module of GateChain main network and a native function of the main chain. Users can use smart contract without cross-chain asset migration. (3) GateChain is fully compatible with Ethereum ecological products: MetaMask wallet, Remix and other development tools can be easily accessed to help users play Defi without pressure. 6. GateBridge cross-chain tool opens a bridge between GateChain and ETH, BSC and Heco. Users can easily, quickly, and safely transfer assets.

Total number of tokens: THE initial total number of GT is 300 million. Ten years later, the total number gradually reaches 1 billion. 300 million GT will be given away in point card sales on gate. IO platform in an open and transparent way. No ICOs, no private placements, no insider shares, no reservations and no institutional reservations.

With high TPS, throughput, creating retractable transactions and private key loss, fund recovery functions.

PoS mining reward. In order to ensure the health and stability of the bottom layer of blockchain, users are encouraged to participate in PoS mining to obtain GT reward as a stable income return. GateChain users can participate in POS mining in two ways: 1. Set up a GateChain node to become a consensus account. 2. Entrust GT to other consensus accounts. The total revenue of each block round is 0.4GT+ transaction fee. According to the weight of the consensus account selected by the committee, the weight is distributed inversely (the lower the weight is, the higher the profit will be, and vice versa), and the weight is = (the amount of coin held + the amount of GT entrusted) * loyalty coefficient.

OKChain focuses on "real landing and commercial use", while Huobi Public chain focuses on finance. GateChain focuses on on-chain capital security.

As an innovative public chain focusing on the security of on-chain assets, GateChain has introduced a number of innovative technologies and concepts to greatly improve the security of digital currency assets, and at the same time promote the further technological improvement and security guarantee of peers, so as to form healthy competition and jointly provide users with more secure account demands.