GX Chain (GXC): What You NEED to Know!

laatste update: 08-2022

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๐Ÿ“ Project Overview ๐Ÿ“

GX Chain is a public blockchain that was created in order to support the storage and exchange of personal data.

GX Chain is trying to give you exclusive control of your data and if you wish, monetize this data.

GX Chain will also support decentralized applications (thatโ€™s dApp) development.

โš™๏ธ Technology โš™๏ธ

There are three distinct components behind the GX Chain network and each of them serves a purpose for either a Customer, Business or Developer.

On the customer side you have โ€œBlockcityโ€ which is a mobile application on the GXChain that will help users to take control and manage their personal data.

It will allow for the sale or sharing of data, and will provide customers with incentives for authorizing the use of their data.

On the business component side you have the decentralised marketplace. This is a peer to peer alternative to the traditional data transfer services.

The developer component will give access to blockchain as a service, smart contracts, swift login, KYC, ID verification.

GX Chain uses a DPoS consensus mechanism on the main chain and a proof of data consensus on the sub chains.

๐Ÿ’ฐ๏ธ Token ๐Ÿ’ฐ

GXS is the utility token behind the protocol that provides the โ€œfuelโ€.

There are both GXC and GXS tokens on the market. The GXS variant were the earlier ones and there was a 1 for 1 tokens swap that took place in 2018.

GX Chain held a private sale ICO for an initial amount of 10 million GXS tokens back in April of 2017.

๐Ÿ‘จโ€๐Ÿ’ป๏ธ Team, Partners & Development ๐Ÿ‘จโ€๐Ÿ’ป

The team behind GX Chain is pretty diverse and they have backgrounds ranging from fintech to software engineering and entrepreneurship

GX Chain has entered into a number of commercial agreements. These include the likes of China Mobile, China Unicom and Unionpay

๐Ÿ“ˆ Trading & Wallets ๐Ÿ“ˆ

The GXC variant is trading on the likes of Huobi, Bit-Z and Digifinex. However, the older GXS standard token is trading on Binance.

There is strong volume for these tokens on these exchanges which implies decent levels of liquidity

The best place for storage of GXC is probably only on their core wallet.


๐Ÿ“œ Disclaimer ๐Ÿ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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21 gedachten over “GX Chain (GXC): What You NEED to Know!”

  1. You mentioned this 2 years ago, now that itโ€™s pumping all the other you tubers are making videos about it.

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