GateChain’s Recap of 2020, Plan of 2021
Dear GateChain users,
2020 was certainly one for the history books. COVID-19 crisis,accompanied by an economic recession, a DeFi craze, the development of new public chains, and BTC continuously breaking all time highs. We witnessed crypto history in the making several times this past year.
2020 was also a critical one for GateChain. We continued working on solutions tackling problems currently plaguing the crypto industry by building the safest, and most secure public chain in the world. We introduced our innovative Vault Account mechanism, a Revocable Transaction Model, developed and tested on the new high-performance consensus framework to give GateChain enhanced processing power whilst maintaining our safety to the highest degree. We also made GateChain a highly decentralized public chain by using a new algorithm in rewards allocation.
We strongly believe that our innovation and persistence will pay off. It is with this mindset, that our team has made GateChain an outstanding platform.
Below are some highlights of Gatechain’s mainnet evolution in 2020:
* 2020.1.30 : published the first arXiv academic paper RTM: Blockchain That Supports Revocable Transaction Model
* 2020.4.25: Released Testnet 3.0, adopted high-performing architecture
* 2020.5.14: Finished the first governance voting in an open and transparent way.
* 2020.5.27: Released Testnet 4.0
* 2020.6.29: Genesis block of GateChain Mainnet 1.0 created
* 2020.7.31: Released GateChain node clients, allowing building independent PoS mining node
* During the 5 months after our main-net launch, GateChain completed four major upgrades. As mainnet ran stably, our user base kept growing.
GateChain’s mainnet grows stronger on a daily basis. What started off as a spark of innovation, is rapidly growing into a popular public chain with cutting-edge technology. Our public chain not only reached our design targets in safety, computing power, consensus, scalability and robustness, but has also lived up to our community’s expectations and trust.
2020’s Recap of GateChain’s Eco:
During 2020, new products were developed and added to GateChain’s eco products ( Hipo (https://www.hipo.com), Wallet.io, Explorers (https://explorer.gatechain.io | https://block.info), smart development tool IDE, smart contract migration tool “Tools”) developed at a rapid pace.
* 2020.8.15: Disclosed plans for ourPublished DeFi eco planning, aiming at building a safe & decentralized DeFi eco.
* 2020.9.14: Published HipoSwap whitepaper, introduced a creative solution to slippage on AMM mechanism（https://www.gate.io/en/article/17854）
* 2020.9.29: Launched stablecoin USDG（Gate USD) to further complete the DeFi eco.
* 2020-Q4: GateChain-EVM & ETH crosschain assets entered testing phase
What’s in store for 2021?
We don’t let our past achievements put us at ease, we still have plenty to do to ensure GateChain’s development, in the future. We will continue to develop GT and our eco in accordance with the industry trends. This new year, our focus on development will shift from underlying architecture to upper layers and applications. 2021 will be the year that Gatechain’s eco fully blossoms.GateChain-EVM will be launched on TestNet soon for public testing. Users will be able to try out new features on GateChain characterized EVM contracts.
What is the GateChain-EVM?
* GateChain-EVM: compatible to EVM. Any smart contract that is running on the Ethereum can be ported to GateChain seamlessly.
It is a creative GateChain solution different from a trade-off solution most public chains use the smart contracts enabled via multi cross-chain: GateChain-EVM has native functionality on mainnet. Users do not need to transfer transactions cross chain to use the smart contract.
GT, is the fuel for GateChain’s mainnet and will also be used to pay for GAS fees on the GateChain-EVM.
Following GateChain-EVM’s release on the testnet, we will introduce popular DeFi applications on testnet as well. We encourage developers to deploy their projects on Gatechain so that we can build and grow the eco together.
We currently support the following project types, and more.
* Algorithmic StableCoins（e.g.BasisCash）
We plan to build a fully fledged eco in 2021 and on board more users, investors and developers to the community.
2021 began with BTC repeatedly breaking all-time highs. This is a strong signal that the industry as a whole is moving in an upward trend. Gate.io will continue to be the voice of reason, transparency and unbiased opinion within the industry.
We will strive to bring safe, friendly, and a faster experience to users, developers and influencers. It is a new year with many opportunities, let’s build a new tomorrow with GateChain, together.
GateChain Mainnet Explore：https://explorer.gatechain.io/mainnet/
About GT： https://www.gate.io/en/gt
Trade GT: https://www.gate.io/trade/GT_USDT
Gate.io is an established exchange that holds integrity, transparency, and fairness to a very high standard. We charge zero listing fees and only choose quality and promising projects. Our exchange consists only of 100% real trading volume. Thanks to everyone who has joined us in our journey. We always intend to improve and innovate to reward our users for their continuous support.
January 4, 2021
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