What is GXS coin? Know about GXChain!

Attracting attention with an increase of more than 500 percent in the last 24 hours GXS coin, It aroused curiosity by investors and people in the industry who were interested in cryptocurrencies. This guide has details on the future of GXS coin, its project and where it can be bought and sold, starting with what is the GXS coin.

• Founder and year of establishment: Minqiang Huang / 2017
• Blockchain: Own blockchain
• Total supply: 100 million
• Circulating supply: 75 million
• Market value: $236 million (December 2, 2021)
• Lowest price: $ 0.1912
• Highest price: $ 9.99
• The goal of the project: To provide solutions to data problems on the Internet with the possibilities developed by its own blockchain.
• Usage areas: data industry

What is the GXChain (GXS) project?

GXChain is a foundational blockchain for the global data economy, designed to create reliable data internet value. The CEO and founder of GXChain is Minqiang Huang, also known as Vincent, who has been involved in data exchange technologies for over 10 years.

Leveraging the DPoS-based Graphene core architecture, GXChain has functions such as G-ID, GVM, BaaS, and Blockcity, which are suitable for application development. GXChain-based DApp-Blockcity reportedly has more than two million verified users and provides data for other DApps and strategic partners.

Based on decentralized, cryptography and smart token design, GXChain offers a solution for the data economy by developing multiple data modules. Data loading, storage, computation and exchange have been gradually realized with many commercialized applications. Currently, the GXChain team claims to have 2 million verified users in the DApp ecosystem.

With the maturation of 5G, artificial intelligence (AI) and Internet of Things (IoT) technologies, the age of big data has arrived. Society’s ability to generate and process data has increased significantly. With the advent of the big data era, our knowledge, our efficiency in responding to demands, social and business planning, as well as collaboration can be significantly improved.

The future of GXChain (GXS)?

The evolution of the data economy is based on the advancement of computer technology and the internet, which serves as a cornerstone for data collection, analysis and other operations.

Traditional internet schemas have provided a solid foundation for data collection, storage, analysis, use and exchange. It’s safe to say, the world is going digital and interconnected at an ever-increasing rate.

However, several threats loom over the development of the data economy. The first is the data ownership debate. As businesses compete fiercely for this data, the great value of personal data has inevitably emerged. Globally, there is a growing trend that personal data belongs to its producer, i.e. individuals, and not to large collaborations.

On the other hand, we do not have a simple but effective way to manage our data, especially under the current internet ecosystem and with the current internet business models. In addition, strict control of the use of personal data can hinder the effectiveness of resource allocation, resulting in a waste of resources. Therefore, there is a great unmet need for a solution that can protect data ownership and at the same time prevent inefficiencies caused by the lack of personalized business services.

The second is the issue of data security. Recently, centralized companies have experienced many data scandals and breaches such as Equifax data breach and Facebook Cambridge Analytica. Centralized data storage and usage is often a goal. Data breaches pose a real threat to personal data security and privacy, especially for those on social networks. These problems bring a huge burden. And these threats can undermine the reliability of companies’ networks and data centers, even a single breach.

Third is the emerging challenge of fake data. The current centralized data ownership and management model makes it very difficult to verify the authenticity of data, available tools and solutions are limited, which significantly hinders social collaboration.

GXChain, on the other hand, believes that to solve the aforementioned problems, an infrastructure upgrade of the current data economy is necessary and its technology can change the way data is collected, stored, computed and exchanged. Specifically, the team thinks that people need a transparent, decentralized, high-throughput and efficient data service-oriented internet.

GXChain claims to provide solutions to these problems as a forward-thinking foundational blockchain aimed at solving data economy problems based on decentralization, cryptography and smart token design. GXChain has set itself the goal of providing a leading solution for the data economy. Over the past two years, the team has developed multiple reliable data modules to address issues in the data economy, including lack of ownership, security, authenticity, and incentives. Data loading, storage, computation, and exchange have been gradually implemented by many commercialized applications.

GXChain has created a Public ID or G-ID verification system that is used to authenticate each individual and issue a unique G-ID that secures user data and prevents tampering with data from other users. Mining will be done through a unique Proof of Work consensus mechanism, and users will be able to collect GXS tokens, among other cryptocurrencies.

Where and how to buy GXS coin?

GXS coin is 51% to the GXChain Foundation, 24.51% is for sale, 10 percent to early investors, 9.49 percent to Community Developers, and 5 percent to the Blockcity mining pool. GXS has a maximum supply of 100 million and a circulating supply of 75 million. It has a market capitalization of $236 million as of December 2, 2021. GXS, which saw its highest level at $ 9.99 in 2018, saw its lowest level with 0.1912 in March 2020.

GXS; It can be traded with trading pairs such as USDT and BTC from major exchanges such as Binance, Huobi, Bithumb, Gate.io, Bittrex and Digifinex.