Purpose

GXChain is a public blockchain that offers decentralized data exchange solutions. GXChain supports smart contract, blockchain as a service (BaaS), can provide services like ID verification, multi-dimensional data, KYC, and swift login. It currently offers 100,000 TPS (transactions per second), which can accommodate most business applications.

GXS, their utility token, is the only payment method for using applications in the GXChain ecosystem. Every time a user spends GXS, those tokens will be burned, reducing the supply over time. This was implemented to avoid the devaluation of the token in the long-term.

 

Strengths

-GXChain can process 10,000-100,000 transactions per second and can expand horizontally, enabling even higher transaction speed without a hard fork

– Instead of a fork to change parameters, GXChain can change block time, block size, transaction fee etc, via on-chain voting

 

Weaknesses

-Having developed their own consensus mechanism, it has not been extensively tested, and it could be hard to find outside testers

-New blockchains need to compensate for the lack of infrastructure and attract developers and users to their platform, which can be difficult without a big war chest

-On-chain voting for blockchains with inactive or small communities can lead to cartel formations and can hamper the development of the platform for short-term profits

-GXChain is focusing on China, which will make it directly compete with NEO within the ecosystem

-PoCS’ incentive structure can dissuade users who have not been active for a while to use the platform sporadically

 

Network Status

The GXChain mainnet is live.

 

Roadmap

They do not have an official roadmap but have a Medium page releasing weekly updates on the project.

In Q3 2018, they stated: “GXChain smart contracts are under final test, will release soon.”

 

Governance

GXS is using delegate proof of stake for book-keeping on blockchain and proof of credit share (PoCS, developed by them) for data exchange consensus. PoCS score is based on transaction frequency, and the score will contribute to the transaction fee. Members with lower PoCS score will pay more transaction fee for the data, while members with the higher score will spend less on transaction fee.

 

Similarities

The GXChain supports the issuance of new assets or token types, making it similar to Ethereum.

 

Notable partnerships

Their partners include China Unionpay, China Unicom, Rong360 and Niwodai.

 

Exchange

GXS is traded on Binance, OEX, Huobi and DragonEX.

 

GXChain Stack

GXChain is its own blockchain.

 

Community

Twitter: 11.1k https://twitter.com/gongxinbao

Reddit: 313 https://www.reddit.com/r/GXS/

Telegram: 1.6k https://t.me/GXB_International

 

Price history

August 2, 2018: 2.58$
July 2018: 2.72$
May 2018: 4.46$
Jan 2018: 5.03$

 

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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations