What to do with GTFX?
learn how to use GTFX as Gitshock Finance users.
Gitshock Finance Ecosystem Consist of;
Public Networks
Gitshock Chain and Neware Chain are our native public chains. Both are powered by GTFX coin. Public chains means, they are managed by decentralized developers, validators and token holders around the world. Gitshock DAO is our community infrastructure that will be responsible for any cooperative decisions made on those chains.
You can use GTFX to;
- 1.P2P transactions
As a decentralized network, everyone on the network will be able to transact from one address to another without any third parties. You may do GTFX barter transaction (p2p) with pizza, tasks, or some valuable stuffs according to you in you like to do so.
- 2.Run blockchain validation.
Our public chains both are adopting delegated proof of stake consensus. Delegated Proof of Stake (DPoS) is a blockchain consensus mechanism in which users who hold that blockchain’s coin are able to vote for “delegates.” Then, these elected delegates make important decisions for the entire network, like deciding which transactions are valid and setting protocol rules.
- 3.Delegate GTFX to trusted validators
Each user who holds a GTFX will have the ability to vote on which nodes are allowed to validate transactions on the network. Voting power is based on how many GTFX a users are delegating. Users who stake more GTFX have greater influence in determining which nodes are elected. These elected nodes are commonly known as delegates.
- 4.Build smart contracts
For amplifying GTFX utilities and ecosystem, Gitshock Labs designed 4 native dapps managed by the decentralized developers. One of them is contracts builder, you can generate smart contracts istantly without coding skills on Gitshock Chain and other public chain. You can save times and fees developing the smart contracts, while keep building communities and your own smart contracts.
- 5.GTFX as rebates of Gitshock Enterprise
By adopting Gitshock Enterprise blockchain service, you're able to generate your customizable Ethereum blockchain on specific cloud service, i.e. AWS, Microsoft Azure, Equinix or others. We encourage enterprises to adopt blockchain technologies easier than ever. Low codes, less than 30 minutes, interoperable and private. We call new chains generated by this method 'Circle chains', as enterprise will also become GTFX holders by join our network as institutional validators.
6. Network Fees
Network fees from Gitshock Chain and Neware Chain should be stored on a gas-fee bank and might be used to add GTFX PoS reward bank on both chain. There must not any random burn activities on GTFX, as it has limited supply, and the utilities are countless, literally permission less for everyone.
Last modified 6mo ago