Review on GXChain by francis fernandez
Gxchain: a reliable tool for data trading through a blockchain
Gxchain is a platform for the commercialization of data on a large scale through the use of blockchain technology that allows to develop a reliable and decentralized internet service.
Token:
The platform uses the GXS token as a driving force for the gestation of data exchange, to grant rewards in the network to miners, as a guarantor of participation in the voting mechanism, among other functions.
The GXS token has an established maximum supply of 70,000,000GXS.
Platform utilities:
• Serves for loading and storing data.
• Allows the exchange of data through the use of a cryptocurrency.
• It is a tool for the development of multiple data applications.
• Monetize data transfer in a secure and decentralized economy.
Cryptocurrency technology:
The Gxchain network has a multifunctional infrastructure that includes several valuable protocols; such as: Gxchain offers the Blockcity mobile application to facilitate the administration of tokens to its users and to obtain GXS tokens in mining; which together with other protocols such as G-ID, BaaS and GVM provide the ideal technological conditions for the development of decentralized applications in the Gxchain chain and allow the supply of strategic data to other blockchain projects.
The Gxchain network is based on the development of an intelligent token that provides a valuable instrument to the data market by providing modules for data commercialization.
In the fulfillment of this mission, smart contracts are used to provide data supply, exchange and verification services through the GXS token.
Regarding consensus mechanism; the network employs the delegated proof of stake (POS) mechanism in conjunction with the proof of credit (PoCS) protocol that offers lower rates on transactions.
Pros
- It is a decentralized platform to commercialize data in a secure way.
- Combines blockchain technology and bigdata management in a single chain.
- It uses smart contracts for greater precision in the execution of its operations.
- It is a reliable and robust tool to develop the internet.
Cons
- The value of the digital currency is variable and volatile.
