Review on Gatechain Token by Pedro O. Alvino M.
Interoperable public chain between chains.
GateChain started in 2019, is a decentralized project in order to promote decentralized trade, asset issuance and interaction between chains, so that users and institutions can enter the crypto-asset market by digitizing their assets and keeping them in a high-security vault. .
According to the design of the GateChain network, it is possible to execute smart contracts according to the introduction of the EVM smart engine, in which it also seeks to attract users of the Ethereum network with a more scalable and cheaper network, for this reason they also modified a EVM account system that allows users on the Ethereum network to use EVM GateChain functionalities without having to open an account, thus allowing users to implement projects on GateChain with greater flexibility.
Many projects of the DeFi ecosystem constitute various mechanisms to generate benefits to users, however the safeguarding of assets in such projects is not always secure, so GateChain contains an account system that integrates a vault that allows revocable transactions and restoration of corrupted private keys mitigating risk and asset theft.
The architecture of the project is well designed, so that carrying out a certain activity within the network requires a cost that is paid through GT, a native asset of the project that currently has an excellent economy in the market, which provides greater capitalization to the project. and increased attention from the encryption community.
Pros
- Allows users to issue their own tokens on the GateChain chain
- Offers a type of asset storage account that allows revocable transactions and restoration of corrupted private keys.
- Adds a set of development tools for the development of third-party ecosystem applications.
- Blockchain interoperable between chains.
- Excellent GT mechanism and economy.
- It has an intelligent EVM engine that allows you to call and implement contracts.
Cons
- There are already a large number of projects based on decentralized trade and asset management in chains.
