What Is Glitch (GLCH)?
Glitch is a blockchain agnostic protocol created primarily for decentralized finance (Defi). Blockchain agnostic platform is a platform that supports multiple blockchains. Glitch aims to support mass adoption, unlock the power of permissionless applications, reduce transaction costs, and reward the participants. Glitch is fast and interoperable. Interoperability is the capacity to exchange data and unique digital assets between the Glitch ecosystem and different other blockchains with the help of a bridging infrastructure. The platform claims that it can process thousands of transactions per second.
As per the whitepaper, Glitch uses a delegated proof-of-stake (DPoS)consensus mechanism to ensure that no individual gains control of the network. The validators are voted in to validate the blocks on the chain. Glitch supports scaling from layer 1 and offers faster transactions. Layer 1 solutions aim at improving the base protocol to make the overall system better and scalable. The platform has low network fees and incentivizes community members through a revenue-sharing model. GLCH is the native token of the Glitch platform.
The Glitch ecosystem includes a GEX decentralized exchange, a cryptocurrency wallet, and an explorer, apart from a blockchain. Glitch wallet is an open-source interface that allows users to generate personalized wallets to send and swap GLCH tokens. GEX is a peer-to-peer platform enabling users to trade digital assets easily and quickly. GEX also brings speed and cost-efficiency.
Glitch is a community-oriented platform. Decision-making power at Glitch lies in the hands of its members via an automated system called a decentralized autonomous organization (DAO). Users can get GLCH tokens that allow them voting rights on changes in the network. Glitch also allows its users to earn staking rewards by staking their GLCH tokens for a share of the GLCH-ETH-BNB rewards pool.
History of Glitch (GLCH)
Sean Ryan is the CEO and founder of the Glitch platform. The Glitch technical whitepaper version 2.0 was released on April 04, 2021, which supersedes the old version dated October 2020. The maximum supply of GLCH is 88,888,888 tokens.
