Price
$0.78
11/27/2022, 6:36:17 AM
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Market

Market stats

Market cap

$26.5M

Volume (24h)

$1,780.06

Circulating supply

75.0M GXC

All time high

$11.24

Price change (1h)

0%

Price change (24h)

-2.54%

Price change (7d)

-4.89%

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GXChain is on the decline this week.

The price of GXChain has fallen by 4.89% in the past 7 days. The price declined by 2.54% in the last 24 hours. In just the past hour, the price grew by 0.00%. The current price is $0.777228 per GXC. GXChain is 93.09% below the all time high of $11.24.

The current circulating supply is 75,000,000 GXC.

About

What Is GXChain (GXC)?

GXChain is a central blockchain for the global data economy, with the purpose of establishing a safe and secure data internet of value. GXChain aims to provide a variety of functions that are convenient for application development. GXChain seeks to develop several trustworthy data modules based on decentralization, cryptography, and smart token design to deliver a leading solution for the data economy.

According to the whitepaper, the significant data age has arrived with the maturing of 5G, artificial intelligence (AI), and other technologies. In today's times, society's ability to generate and process data has dramatically improved. However, several risks exist over the data economy's development. The first is the issue of data ownership. The enormous importance of personal data has become undeniable, with firms competing for it furiously. The second issue is data security, as data storage and centralized usage is typically a target for easy exploitation. The third issue is the emergence of bogus data. The existing centralized data ownership and management architecture makes it extremely difficult to check the authenticity of data. The fourth issue is a lack of incentives. Everyone can benefit if a solution allows individuals to profit from their data. And individuals can profit by allowing firms to get personal data ethically and legally while paying the individuals for providing their data. In simpler words, people require a data service-oriented internet that is transparent, decentralized, high-throughput, and efficient. 

GXChain is a blockchain aimed at resolving the above mentioned data economy concerns. GXChain blends "on-chain" and "off-chain" governance, bringing individuals and computational code into the governance system simultaneously, resulting in decentralization and efficiency. Every GXChain asset holder is entitled to vote in the decentralized governances. The future direction, strategy, and operation of the GXChain ecosystem are decided by the votes of all GXC token holders. As far as off-chain governance is concerned, the GXChain foundation is a non-profit organization and comprises Policy Committee, Advisor Committee, Execution Committee, Ecosystem Panel, etc. These committees are responsible for decision-making, research, development, global marketing, finance management, and various other operations.

Furthermore, with a total supply of 100 million, GXC is the core asset of governance and application on GXChain. GCX aims to offer multiple uses:

  • As mentioned earlier, GXC has a significant role in both on-chain and off-chain governance. GXC can be used to voice thoughts in on-chain governance, and it can also be used as an incentive in off-chain governance.

  • GXC is used to access GXChain features such as account creation, account upgrade, transactions, etc.

  • GXC is accepted as payment for services and goods by all GXChain-based DApps.

  • People can purchase personal data using GCX from users who have given their approval and acknowledgment.

History of GXChain (GXC)

As mentioned in the whitepaper, in August 2016, the GXChain project was established, and in February 2017, the first GXChain whitepaper was released. Apart from this, the GXChain Foundation was founded in Singapore in November 2017. The foundation promotes the healthy and efficient development of the GXChain ecosystem while also safeguarding the rights of GXC holders. The foundation also encourages communication between GXC holders, the GXChain community, and developers.

How Are New Tokens Created?

GXChain is based on the delegated proof-of-stake (DPoS) consensus mechanism. Delegated proof of stake (DPoS) is a blockchain consensus technology similar to proof of stake (PoS). There is no mining in the PoS method. Instead, the quantity of coins staked determines the validity of new blocks on the blockchain. Users lock a fixed number of coins as a stake, and users with stakes are awarded validation powers for the next new block at random intervals. Participants still stake coins in a delegated proof-of-stake (DPoS) system. Instead of taking on the task of validation directly, stakeholders delegate it to a delegate, who subsequently works with groups to reach an agreement.

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FAQ

What is the current price of GXChain?

The price of 1 GXChain currently costs $0.78.

What is the market cap of GXChain?

The current market cap of GXChain is $26.45M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of GXChain?

The all-time high of GXChain is $11.24. This all-time high is highest price paid for GXChain since it was launched.

What is the 24 hour trading volume of GXChain?

Over the last 24 hours, the trading volume of GXChain is $1.78K.

What other assets are similar to GXChain?

Assets that have a similar market cap to GXChain include Astrafer, Steem Dollars, Starlink, and many others. To see a full list, see our comparable market cap assets.

How many GXChain are there?

The current circulating supply of GXChain is 75 million.