1. What Is GateChain?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
GateChain is a public blockchain which facilitates digital asset transfers, and claims to be “dedicated to asset safety.”
The network’s native token is GateToken (GT). It’s mainly used to pay transaction fees, but users can also stake it to validate transactions and secure the network in exchange for rewards.
GateChain offers an on-chain wallet for users to manage their digital assets directly on the network itself, thereby eliminating the need for a third-party wallet. It’s also fully integrated with the Ethereum Virtual Machine (EVM), making it easy to deploy Ethereum-based smart contracts on the platform.
2. Who Are the Founders of GateChain?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
GateChain was launched by Gate.io, a global crypto exchange, in 2018. The company is based in Zurich, Switzerland, and was founded by Thomas Kofler and Wassilios Lytras, according to Crunchbase.
3. What Makes GateChain Unique?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
GateChain boasts a block time of just 4 seconds and can achieve up to 2,745 transactions per second (TPS), while offering low gas fees of as little as $0.0001 per transaction.
Developers can create and deploy their own smart contracts on the GateChain network, which provides a vast array of potential use cases.
To encourage developers to migrate their Ethereum dApps to GateChain, GateChain introduced an 'EVM account' type and expanded the account system. The platform also supports Ethereum's 0x address, which allows users to run their assets on both networks using the same address without having to create a new account on GateChain.
4. How Many GateTokens (GT) Are There in Circulation?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
There are 97,810,057 GT tokens circulating as of June 2023. The maximum supply is 300,000,000.
5. How Is the GateChain Network Secured?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
GateChain is secured by a proof-of-stake algorithm. Users can stake their GT tokens and become validators responsible for security of the network and process transactions in exchange for a share of the transaction fees, paid in GT tokens.
The GateChain team also developed an on-chain safety account and customizable time-delay recovery features to offer users asset safety even if private keys are hacked.
6. Where Can You Buy GateTokens (GT)?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
GateToken is listed on Gate.io, Huobi, LBank, Bitfinex and more.
Want to keep track of GT live prices? Download the CMC mobile app.
7. Related Pages:
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
Learn some more what decentralized applications (DApps) are.
What is a smart contract? Learn more with the CMC glossary.
New to crypto? Check out CoinMarketCap's educational portal to get the latest news and insights.
8. What is Blockchain?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
Blockchain is a decentralized and distributed ledger technology that securely records transactions across multiple computers in a verifiable and permanent way. It forms the underlying technology for cryptocurrencies like Bitcoin and enables transparency, security, and immutability.
9. What is Cryptocurrency?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks, typically based on blockchain technology, and facilitates secure and transparent peer-to-peer transactions.
10. What is Bitcoin?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
Bitcoin is the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group known as Satoshi Nakamoto. It operates on a decentralized peer-to-peer network and is used for secure, transparent, and censorship-resistant transactions.
11. What is the difference between Bitcoin and Altcoins?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
Bitcoin is the original and most widely recognized cryptocurrency, while altcoins refer to any other cryptocurrencies besides Bitcoin. Examples of altcoins include Ethereum, Ripple (XRP), Litecoin (LTC), and many others.
12. What is Staking?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
Staking involves participants locking up a certain amount of cryptocurrency in a wallet to support the operations of a blockchain network. It is commonly associated with proof-of-stake (PoS) and delegated proof-of-stake (DPoS) consensus mechanisms, where participants receive rewards for helping secure the network.
13. How Can I Stake Cryptocurrency?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
To stake cryptocurrency, you typically need to choose a platform or network that supports staking. Transfer your tokens to a compatible wallet, follow the staking instructions provided by the platform, and lock up the desired amount of cryptocurrency. Once staked, you may start earning rewards.
14. What Are Staking Rewards and How Are They Calculated?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
Staking rewards are incentives provided to participants who lock up their cryptocurrency to support the network. The amount of rewards varies and is influenced by factors such as the network's inflation rate, the total amount staked, and the specific rules of the staking protocol.
15. Can I Unstake My Cryptocurrency at Any Time?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
The ability to unstake and withdraw your cryptocurrency depends on the specific staking protocol and network. Some platforms may have lock-up periods or unbonding periods during which your staked tokens are inaccessible. Always check the terms and conditions of the staking service.
16. What are the Risks of Staking?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
Staking comes with risks, including the potential loss of staked funds if a participant behaves maliciously or fails to fulfill their responsibilities. Market volatility can also impact the value of staked tokens. It's crucial to thoroughly research the staking protocol and understand the associated risks.
17. Can I Lose Money by Staking?
![plus](/images/icon/icon-plus-light.svg)
![minus](/images/icon/icon-minus-light.svg)
While staking is designed to be a rewarding activity, there is a risk of losing money, especially if the value of the staked cryptocurrency decreases or if the staking protocol encounters security issues. It's important to consider both the potential rewards and risks before participating in staking.