GateChain Testnet 3.0 Launch
About GateChain Testnet3.0
Gate.io launched GateChain Testnet 1.0 on September 30th, 2019. GateChain creatively presents a solution for security issues such as loss of private keys and assets being stolen. After the launch of the Testnet, we have received constructive feedback from users and we have upgraded the network accordingly. We have fixed any bugs and re-constructed the core of nodes. We have also regulated the blockchain structure, strengthened the , improved the token issuance feature, optimized the warning of user funds activities, upgraded the desktop version of wallet, upgraded node API and optimized the TPS and launched GateChain Testnet 2.0 on December 24th, 2019.
The newly released GateChain Testnet 3.0 is a very important upgrade in which we redesigned the network module and implemented a new consensus mechanism. The performance in the testing environment reaches 2000+ TPS (Transactions per Second) and supports 1000+ validator nodes. We believe there is no shortcut to innovation, but only the presence of grit, communal efforts, and the pursuit of technological advancement. We invite more users to join us to witness and experience the development of GateChain, and we welcome experts and researchers to join us in the GateChain development team. We believe GateChain will redefine blockchain security and promote the broader adoption of crypto assets and blockchain technology!
About GateChain Mainnet
GateChain not only has its unique asset security features, it also comes with great network capacity. With the new GateChain underlying architecture and consensus mechanism, The TPS of GateChain has considerably increased, and it can effectively protect the security of nodes, lower the barriers for users to join the network, hence making the network more decentralized. For the new underlying architecture and consensus mechanism, we will build a single module and launch it as an independent project. The new module will be equipped with the one-tap chain issuance feature, which enables other blockchain development teams to utilize GateChain’s technology under the respective open source and intellectual property right related protocols.
We will release GateChain Testnet 4.0 in May 2020, the launch will include bug fixes, performance optimizations. We will also continue to collect feedback and suggestions that facilitate further development and optimization of Testnet 4.0. The GateChain Mainnet 1.0 will be released shortly after Testnet 4.0 around 2020 Q2. During this time, we will launch the individual module mentioned above together with the one-tap chain issuance feature. We are looking forward to the upcoming mainnet launch and the change it is about to bring to the community. Please stay tuned for the development of GateChain.
How to Participate in the Gatechain Testnet 3.0 Testing
Gatechain provides different types of wallets for both regular, professional and corporate users. During the testnet phase, regular users can try out the wallets by using the Windows and Mac OS desktop versions. Professional and incorporated users can visit the testnet via full nodes or API.
Gatechain Wallet user instruction: https://www.gatechain.io/docs/cn/gatechain-wallet/
Please note that the network test is an ongoing process. The network might reset and the Testnet token could be cleared. Users can obtain the Testnet token again if the network is reset.
Download GateChain Testnet Wallet
Desk Top version (for Windows and Mac OS): https://www.gatechain.io/wallets
User instruction: https://www.gatechain.io/docs/cn/gatechain-wallet/
Wallet.io now also supports GateChain Testnet in both mobile app and Web.
Download Wallet.io mobile App at: https://wallet.io/download (open app and enter “GT_TEST)
Visit Wallet.io via Web: https://wallet.io/ (log in and enter “GT_TEST)
GateChain Testnet Documentation
Github (English): https://github.com/gatechain/gatechain-docs/tree/master/en
Github (Chinese): https://github.com/gatechain/gatechain-docs/blob/master/cn
GateChain Research & Lectures
1. Gate.io Research: An Overview of Blockchain Technical Challenges & GateChain’s Innovations https://www.gate.io/help/research/17166
2. GateChain Lead Architect YiXiu: Public Blockchain and its Technical Challenges (1)(in Chinese) https://www.gatecn.io/help/research/17166
3. GateChain Lead Architect YiXiu: Public Blockchain and its Technical Challenges (2) (in Chinese) https://www.gatecn.io/help/livetext/17145
4. GateChain Lead Architect YiXiu: Public Blockchain and its Technical Challenges (3) (in Chinese) https://www.gatecn.io/help/livetext/17146
5. Gate.io Live with YiXiu: Quantum Attacks on Blockchain (1) (in Chinese) https://www.gatecn.io/help/livetext/17162
6. Gate.io Live with YiXiu: Quantum Attacks on Blockchain (2) (in Chinese) https://www.gatecn.io/help/livetext/17163
7. Gate.io Live with YiXiu: Quantum Attacks on Blockchain (3) (in Chinese) https://www.gatecn.io/help/livetext/17164
GateChain Ecos ystem
GateChain eco comprises GateChain mainnet, GateChain DEX, GateChain Token (GT), Gatechain Coin (GC),wallets, etc. They form a decentralized eco characterized by enterprise-grade safety and efficiency for digital asset storage, issuance and trading, presenting a novel solution to blockchain transaction safety.
The main features of GateChain eco can be listed as follows:
1) Transfer/payment：Using a wallet or client-side App, users can send and receive GateChain Token (GC, GT) , as well as other popular onchain assets.
2) Asset issuance： Users can issue and use their own tokens (e.g., GC, GT) to digitalize and manage their assets. For more details, visit Asset Management。
3) Decentralized cross-chain transaction：GateChain provides support for high-performance decentralized trading among different digital currencies.
4) Asset safe storage： With a uniquely designed vault account and a clearing technology, an account can have a comprehensive protection, and support revoking /clearing operations targeting abnormal transaction. For more details, visit Transaction Protection。
5) Multi-signature： Multiple signers can share ownership of one account, and get customized management over their digital assets, which best fit the enterprise demands. For more details, visit Multi-signature。
6) POS staking reward: GC works as a stable incentive for users participating in PoS staking, which safeguard the robustness of underlying blockchain.
GateChain Public Blockchain
GateChain is a novel next-generation public blockchain, focused on onchain asset safety and decentralized exchange. With unique Vault Account technology and its supporting transaction model design, GateChain has implemented a guaranteed safe clearing mechanism, creatively solved the challenging problem of asset theft and private key missing. It also supports decentralized trading and cross-chain transfer among other core applications. Compared with traditional blockchains, such as Bitcoin and Ethereum, GateChain focuses on on-chain asset safety. It creatively proposes several novel concepts, including Standard Account,Vault Account, Retri Account, Clearing Height, Revocable Delay Period, Address Type, Transaction Type, etc.
GateChain DEX is a decentralized exchange based on GateChain. It has matching engines of ultra-high performance and incurs a low participating cost — thus providing users with a safe, quick and transparent trading experience. It also supports cross-chain transfers for multiple currencies.
Anyone who has full control over his private key to his account can exchange freely. GateChain DEX uses private own encrypted wallets or hardware wallets to safeguard users’ assets and offers an alternative for the trust issue that is currently present for centralized exchanges.
Learn more about GateChain DEX at: https://www.gatechain.io/docs/cn/gatechain-dex/
GateChain Coin & Token
GateChain Coin(GC) is the native currency of the GateChain mainnet. It is used to pay transfer fees on GateChain’s network and works as the incentive reward for PoS staking. It is fundamental to GateChain’s network. GateChain Token (GT) is an important eco member for the Gate.io exchange. The value of GT increases based on a deflationary model which includes buy-backs and token burning etc.
GateChain Typical Application
GateChain offers two types of accounts, Standard Account and Vault Account, to meet the efficiency demand in daily payments and safety demand in asset storage. Standard Account allows instant payment and transaction is irreversible. It does not allow restoring lost private key, similar to the features of a bitcoin address. The onchain Vault Account, a major novel creation of GateChain, allows revocable transaction and private key restoration. By combining both types of accounts, GateChain provides all-round safety features to its users.
1. Individual assets management：
GateChain provides individual users two types of accounts, a Standard Account and a Vault Account. Standard Account is used to store a tiny fraction of assets for daily use while Vault Account is used to store the majority which doesn’t need to be accessed immediately. The vault account can set a transfer delay period, 2 days for example.
For everyday transactions, users can use assets in the Standard Account just as if they were using bitcoin: transaction is confirmed upon payment and is reversible. In the worst case when the Standard Account’s private key is lost or stolen, his loss is limited to a small portion. Risk is still under control. When the asset in the Standard Account is insufficient, the user can transfer more from the Vault Account based on his plan and intent. The transfer will be received with a 2 days (example) delay. If theft is concluded during the delay period, the user can simply initiate a “Revoke” request. The stolen transaction will be revoked and moved to “Retri Account” — Is this correct, the name? Please double check so that the loss can be avoided.
2. Legacy or Grant auto-release:
Digital asset inheritance has been a headache for many as it cannot be handled by a middle man like bank assets and real estate under the existing applicable laws. The private key of digital assets is usually kept by the holder himself for security reasons. Without complicated processing procedures, digital assets will be frozen forever following the death of the holder and leave his lawful heir no way to access their legacy. Vault Account at GateChain supports releasing digital assets at a preset future time point to a predefined beneficiary, without worries about private keys missing or theft during this period. As long as one can set a digital asset distribution ratio and release time when he is able to do it, his digital asset will be transferred to his named beneficiary accordingly. This asset processing method can also be used in other scenarios like scheduled fund granting. For example, if parents want to give their children some digital assets when they are 18 years old to fund their development after they have grown up. The parents can specify at their own Vault Account to send a certain amount of digital asset to their children when they are 18 years old.
3. Safe Storage of Bank Asset：
Bank assets storage demands an extremely high level of safety. The prevailing mechanisms in the blockchain industry are cold storage and hardware wallets. But these mechanisms can not 100% guarantee the safety of blockchain assets, especially when it comes to asset risks arising from private key damage. These issues have significantly limited the possibility of massive blockchain asset adoption.
With GateChain’s Vault Account, banks can set a longer transfer delay time to significantly reduce asset storage risk. Besides, GateChain also supports Vault Accounts cascading, which can exponentially reduce risk of theft.
In practice, GateChain can achieve approximately 100% safety for asset storage at a very low cost. Just like the possibility of Bitcoin being brute force attacked is close to zero in practice, though not 100% safe in principle, it already facilitates 100% safety in practice. In addition, pocket money wallet and hardware wallet technologies can still be used to give it further protection (layers).
GateChain Academic Research
To promote the development of blockchain technology and its applications in the real world, GateChain research focuses on studying principles and applications around onchain trading safety.
The major innovation of GateChain is：
1) It puts forward and has implemented an on-chain “Vault Account” . This type of account has safety features allowing revocable transaction and damaged private key restoration, thus providing a novel blockchain safety solution to individuals, enterprises and asset sensitive banks.
2) A transaction model that supports retractable logic which is called RTM (Revokable Transaction Model).
Please refer to GateChain Academic Research for more detail: https://www.gatechain.io/docs/en/gatechain-research.html
As an innovative public chain focusing on on-chain asset security, GateChain introduces a number of new concepts. GateChain hopes to help users understand GateChain security logic more comprehensively by providing the defi nition of the concepts. Also, for the consideration of transaction security, GateChain innovatively puts forward the identification of address type and transaction type to facilitate the user to effectively identify different account types and transfer types, to avoid user misoperation.
GateChain Basic Concepts
GateChain is a novel public chain. Its principle research has introduced many novel concepts which form the principle fundamental for building complete self-consistency in assets safety.
Standard Account：Account similar to a Bitcoin address that can store assets and is suitable for daily use. Assets in this type of account can be sent instantly and the transaction is irreversible once confirmed on the blockchain. Lost private keys cannot be restored.
Vault Account：GateChain’s novel creation. This is a new type of account that allows revocable transactions in case of theft and private key restoration in the case of lost or damaged private keys. Transfer of assets in this type of account have to wait for a preset period of time. It is suitable for storing and protecting a large amount of assets that are not meant to be accessed immediately.
Revocable Delay Period ：The time duration within which transaction transfer from vault account is revocable. During this time of period (calculated by blocks), recovery of transaction is possible by initiating a “revoke” operation to return the transaction to “Retri Account’.
Retri Account：the preset account bound to a Vault Account. When a transaction in vault account is revoked, the transaction asset will be moved to this account.
Clearing Height：it is a future time. At the time when this future block height is hit, the asset in the account will allow clearing.
Revoke: When the transaction initiated from Vault Account is still in the revocable delay period, “revoke” operation can be initiated to return the asset to “Retri Account’.
Revocable Transaction：any transaction initiated from Vault Account is a potential revocable transaction, which allows for revoking to move the asset to “Retri Account” during the revocable delay period. After the revocable period, transaction can not be revoked.
Irrevocable Transaction：Transaction initiated from Standard Account. It is irreversible once it is confirmed on the blockchain.
GateChain Address Types
GateChain have two main account types, Standard Account and Vault Account, with different identifiers at the start in their addresses.
Standard Account：starts with “gt’’. “gt1” indicates a single- signature Standard Account, and “gt2” indicates a multi- signature Standard Account.
Vault Account：starts with “vault’.“vault 1” indicates a single- signature Vault Account, and “ vault2” indicates a multi- signature Vault Account.
With the address identifier mechanism invented by GateChain, the recipient account can easily identify the sending account’s type and set confirmation requirement accordingly. If it is from a Vault Account, confirmation is safe only after the revocable delay period.
GateChain Transaction Types
GateChain has many transaction types. To identify different transaction types efficiently, GateChain creatively provides transaction type identifier.
Below are identifiers of which the different transaction types start with:
Account Set： “ACCOUNTSET-”
GateChain desktop wallet instruction at https://www.gatechain.io/docs/en/gatechain-wallet.html
Visit GateChain testnet explorer at https://explorer.gatechain.io
GateChain Full Node
Full Node and Local Testnet： Anyone can build a full node and run his testnet. A full node has all the functions GateChain has. Detailed installation visit Install and Deploy.
Join Testnet： A full node can connect to the public testnet (use the same version of testnet )）to monitor and broadcast transactions and block update and other tasks in real-time in the network.
GateChain Command Line Interface
Command Line Interface： Besides wallets, we also provide client programs, which can interact with GateChain using command line. Many operations can be done to an onchain account using a command line interface, including account management, transaction management, and asset management. In addition, simple inquiry into onchain data is also allowed using a command line interface, such as the inquiry of account balance, and other transaction details. For more details visit Command Line Interface Reference.
API：GateChain node provides API interface service, related API information visit ‘API’ at https://www.gatechain.io/docs/en/API/
Note: We sincerely appreciate Tendermint and Cosmos’s contributions in blockchain protocol and cross-chain eco.