GateChain Testnet 4.0 Launch
About GateChain Testnet4.0
Gate.io launched GateChain Testnet 1.0 on September 30th, 2019 when the concept of blockchain Vault Account was born for the first time. 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 received constructive feedback from users and we upgraded the network accordingly. Testnet 2.0 and Testnet 3.0 were launched on December 24, 2019 and April 25, 2020 respectively. On May 13th, 2020, Gate.io started GateChain’s First-Ever Governance Voting. According to the result, solution 2.1 was exercised: adopt GT both as platform and mainnet tokens without issuing GC; 30 million GT tokens from the team will be used for staking rewards through PoS mining.
Today, we are happy to announce the final important upgrade and performance optimizations of GateChain’s Testnet before the launch of GateChain’s Mainnet: GateChain Testnet 4.0 launch! The improvements include:
Staking rewards for PoS mining from solution 2.1
-Added feature of post-quantum to fight against quantum computer breaking private keys
-Growth of loyalty factor improves the security of PoS mechanism; meanwhile it brings double benefits to loyalty nodes.
-Additionally, there are highly decentralized and fully open ways for nodes to join GateChain Testnet 4.0, which do not require users to apply. In other words, everyone can join and become a PoS mining node at any time that suits them. Users who do not want to build their nodes can have their GT proxy managed in public nodes to receive rewards for PoS mining. To encourage more decentralized nodes against node conspiracy, GateChain Testnet 4 has applied an innovative regulating mechanism where nodes with smaller stake ratios can receive higher earnings.
The newly released GateChain Testnet 4.0 boasts the most appealing features and performance ever since the introduction of Testnet. A 2000+ TPS (Transactions per Second) is reached amid the testing environment and tens of hundreds consensus nodes are supported. With GateChain Testnet 4.0, every miner can become a supernode to participate in PoS mining. Grover and Shor quantum algorithms are adopted to make it non-vulnerable to quantum computing attacks. Double earnings for loyal nodes ensures PoS security and the innovative regulating mechanism prevents the network from becoming centralized.
We believe there is no shortcut to innovation, except for 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 the GateChain development team. We believe GateChain will redefine blockchain security and promote the broader adoption of crypto assets and blockchain technology!
Changelog of GateChain Testnet 4.0
1. Adopted GT as the mainnet token of GateChain
1) GT now serves as the only token for PoS mining reward and handling fee.
2) NANOGT is speculated as the on-chain token unit
2. Supported HD derivative wallets
(1 GT = 1 * 10⁹ NANOGT)
1) Thanks to the ED25519-based private key derivative method, wallets on the main chain can now be compatible with third-party wallets.
2）Open source of code is available at http://github.com/gatechain/crypto
3.Applied post-quantum addresses
1) The addresses on the main chain have been modified to 40–16-byte array, which is of greater post-quantum capacities, ensuring users’ assets are securely protected.
Modified the PoS mining ratio
4. Modified the PoS mining ratio
1) 30,000,0000 GT will be minted linearly as PoS reward over 10 years, with 0.4 GT reward per block.
2) 20,000,000 GT will be released linearly in 2 years, which will not enter into circulation and can only be sent to an address destined for burning.
5. Adopted parallel computing in block verification
1) Under multiple proposal mechanisms, the consensus nodes parallelly compute the proposed blocks through adopting a pre-ution method to store the ledger, significantly improving consensus efficiency and processing capability.
6.Optimized the stability of Committee Consensus
1)Optimized the lag of consensus caused by network instability.
2)Increased predetermined scheme to rapidly reach consensus when period>3, preventing the decline of TPS if the consensus is not reached for a long time.
7. Set features of prior packing with handling fees and lowest handling fees
1)Consensus accounts are able to set the lowest handling fees and time of packing or prior packing with handling fees.
8.Improved loyalty factor mechanism
1)Proposed blocks have a chance to be selected as the Committee leader, increasing loyalty factor.
2)Loyalty factor of malicious nodes will be deducted.
3)Loyalty factor will be deducted when the token is transferred outside the chain.
9.” Suspend mining block” strategy
1)Postpone the mining of a new block when there is no transaction, preventing data explosion at a later period.
10.Optimized Tx Index Service
1)Optimized speed of search and storage structure, providing an effective and convenient interface including search engine of transaction and accounts.
2)Individual users can set “off state” of this service to save usage storage.
3)Institution users can set “on state” of this service to develop blockchain applications.
11.Enhanced efficiency of blockchain browser
1) Optimized data-processing of browser, coping with high pressure of 2000+ TPS and limiting lag within 10s.
About GateChain Mainnet
GateChain not only has its unique asset security features, but it also comes with great network capacity. With the new GateChain underlying architecture and consensus mechanism, the TPS of GateChain has increased considerably. 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 have built a single module and will 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 Mainnet 1.0 before the end of June 2020. The launch will include bug fixes, performance optimizations. 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 4.0 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.
How to participate in GateChain Testnet 4.0 PoS mining through proxy.
We have upgraded GateChain desktop wallet recently, increasing one-tap PoS mining through proxy and search for profits. Please stay tuned!
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 ecos ystem comprises GateChain mainnet, GateChain DEX, GateChain Token (GT), wallets, etc. They form a decentralized ecos ystem 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 ecos ystem can be listed as follows:
1) Transfer/payment：Using a wallet or client-side App, users can send and receive GateChain Token (GT), as well as other popular on-chain assets.
2) Asset issuance: Users can issue and use their own tokens (e.g.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 comprehensive protection and support revoking /clearing operations targeting abnormal transactions. 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: GT works as a stable incentive for users participating in PoS staking, which safeguards the robustness of underlying blockchain.
GateChain Public Blockchain
GateChain is a novel next-generation public blockchain, focused on on-chain asset safety and decentralized exchange. With a 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 missing private keys. It also supports decentralized trading and cross-chain transfers 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, Retrievable 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 the private key of their account can exchange freely. GateChain DEX uses private encrypted wallets or hardware wallets to safeguard users’ assets and offers an alternative for the trust issue that is currently present with centralized exchanges.
Learn more about GateChain DEX at: https://www.gatechain.io/docs/cn/gatechain-dex/
GateChain Token(GT) 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 keys, similar to the features of a bitcoin address. The on-chain Vault Account, a major novel creation of GateChain, allows revocable transactions 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 with 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: the transaction is confirmed upon payment and is reversible. In the worst case when the Standard Account’s private key is lost or stolen, their 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 “Retrievable Account” so that the loss can be avoided altogether.
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 themselves 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 they are able to do so, their digital asset will be transferred to their 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 assets to their children when they are 18 years old.
3. Safe Storage of Bank Asset：
Bank asset 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 the 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 on-chain 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 transactions 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 (Revocable 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 definition 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 that form the principle fundamentals for facilitating 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. The transfer of assets in this type of account has 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 the 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’.
Retrievable Account：The preset account bound to a Vault Account. When a transaction in the Vault account is revoked, the transaction asset will be moved to this account.
Clearing Height：Referencing 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 the Vault Account is still in the revocable delay period, the “revoke” operation can be initiated to return the asset to “Retri Account’.
Revocable Transaction：Any transaction initiated from the 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, the 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 has 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 requirements 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 a 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 their 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 updates 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 a command line. Many operations can be done to an on-chain account using a command line interface, including account management, transaction management, and asset management. In addition, a simple inquiry into on-chain 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.