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Taking that formula into account, we have calculated the current market capitalization of GXChain to be at $0, which justifies its place as the 195th coin among those present on the cryptocurrency market. The platform will come complete with a peer-to-peer marketplace to make it easy to sell data, trade and purchase digital and physical assets. And the GXSChain supports decentralized application development, including smart contracts and blockchain as a service (BaaS), as well as other unique services. With that being said, let’s focus on the GXChain market, its current standings, as well as the mid-term and long-term price prediction that is based on the readings of our proprietary Crypto Volatility Index (CVIX). At this point, the price of GXChain stands at $0, and this particular digital asset holds the 195th position in the global cryptocurrency ranking.
- Access to user data on the blockchain is managed by a private key, securely generated and given to users, allowing them full control over their data.
- First you’ll need a wallet to store your GXS, and the GXChain team has created an online wallet, desktop wallets for Mac, Windows and Linux, and mobile wallets for Android and iOS.
- The all-time high for the GXS token was $10.38 on January 13, 2018.
- Some of the methods include but are not limited to rewarding outstanding developers, investing in high-quality projects, rewarding users for making significant contributions to the environment, etc.
- The following is the all-encompassing GXChain price prediction for both near- and long-term future.
- The global crypto market cap is $1.67T, a 2.41% increase over the last day.
This price jump was due to the revolutionary initiative the GXChain brought regarding its native token split combined with ecosystem incentives and EVM compatibility. You will also be able to access unlimited market signals and track breakouts and volume increases real time. The GXS token traded above $5 when it was released in June 2017, but soon after it fell under $2, only to rebound briefly back above $5 in August.
Blockcity – Customer Component
Since it is open source, it is possible for other people to use the majority of the code, make a few changes and then launch their own separate currency. Some of these coins are very similar to Bitcoin, with just one or two amended features (such as Litecoin), while others are very different, with varying models of security, issuance and governance. However, they all share the same moniker — every coin issued after Bitcoin is considered to be an altcoin. The global crypto market cap is $1.67T, a 2.41% increase over the last day.
Since you do not own your data, someone can sell you information and personal data without sharing profits. In addition, data is often scattered among gxs crypto price multiple platforms, making it difficult to manage. Finally, data is difficult, if not impossible, for individuals seeks to monetize and earn from it.
The GXChain Team
While we cannot guarantee to exclude them all, we have a vetting process that each coin goes through before it is listed on the site. If we suspect that a coin or project is a scam, it does not get listed. We calculate the total cryptocurrency market capitalization as the sum of all cryptocurrencies listed on the site.
They don’t know how the blockchain could be applied in this scenario to better their lives. Creating A Low-Cost, High-Speed, EVM- Compatible Blockchain; Compared to GXChain 1.0, REI Network has wholly restructured from the underlying architecture to a much simpler blockchain structure. The new blockchain is compatible with EVM and Ethereum RPC, enabling more applications developed on both platforms, including DeFi, to be more quickly and directly connected.
We calculate our valuations based on the total circulating supply of an asset multiplied by the currency reference price. We receive updated cryptocurrency prices directly from many exchanges based on their pairs. Each of our coin data pages has a graph that shows both the current and historic price information for the coin or token. Normally, the graph starts at the launch of the asset, but it is possible to select specific to and from dates to customize the chart to your own needs.
In contrast to the usual Proof of State model, where miners put of a stake in a cryptocurrency to validate transactions, GXChain offers delegate proof of state (DPoS). This model requires coin holders to vote for “delegates” (or witnesses) who are responsible for validating transactions and maintaining the blockchain. Witnesses are rewarded for generating blocks which are then added to the blockchain. Once a user spends GXShares on a specific feature, service, or application on GXChain, the utility tokens will be burnt, reducing the amount of GXS in circulation over time. With the proliferation of data on the internet, there are many pain points for individuals.
But with it comes the necessity to closely follow the developments on the said market in order to comprehend the current situation and have some sense of the future. This GXChain price prediction model was created for the purpose of helping the reader to navigate through the rapidly-evolving crypto space, find the best coins or tokens to invest in, and keep the equity curve growing. But before delving into the all-around GXChain analysis and price prediction, we would like to remind you of the essential rules of cryptocurrency trading and investment. GXChain solves these pain points by obtaining user consent before collecting and storing user data on a blockchain. Access to user data on the blockchain is managed by a private key, securely generated and given to users, allowing them full control over their data. GXChain secures data with G-ID, an ID verification system to prevent tampering of data from other users.
Complete cryptocurrency market coverage with live coin prices, charts and crypto market cap featuring coins on 750 exchanges. CoinMarketCap does not offer financial or investment advice about which cryptocurrency, token or asset does or does not make a good investment, nor do we offer advice about the timing of purchases or sales. Please remember that the prices, yields and values of financial assets change.
These figures should yield you some insight into the current market structure, whereas our in-depth price forecast is based on the showings of CVIX. The data marketplace is an alternative to traditional data transactions, including the trading of data through third-parties and underground data transaction without precipitating data. A decentralized data marketplace has many advantages, including uncached data, privacy protection, fraud prevention and bilateral anonymity support. Current real-life applications for this type of data marketplace include industries like fintech, loans, P2P lending, governments, insurance companies, healthcare and logistics. GXChain’s marketplace commercialized in September and has since brought in over $7 million in revenue. Price volatility has long been one of the features of the cryptocurrency market.
With a strong emphasis on user privacy there is no caching of user data. Blockcity already has a population of more than 2 million verified users. The GXChain hopes to solve these problems by first getting user consent to collect and store personal data, and then putting that data on an indelible blockchain. The GXChain team is calling this Blockcity, and I’ll discuss it in more depth later in this article.
You can also purchase GXS with BTC or ETH at Huobi or the Binance exchange. It is also possible to purchase GXS with USD Tether from QBTC and Gate.io. Rather than the typical Proof of Stake (PoS), where anyone can stake coins to help validate transactions, GXChain uses the Delegated Proof of Stake (DPoS) model. The DPoS model has coin https://cryptolisting.org/ holders vote for delegates (also called witnesses) who do the validation of transactions and maintenance of the blockchain. These delegates are rewarded for their efforts with more GXS coins. There will be a total supply of 100,000,000 GXS tokens, and currently (August 2018) there is a circulating supply of 60,000,000 GXS tokens.
Judging from the market capitalization numbers provided above, GXChain is a small-cap cryptocurrency and belongs to a high-risk category. But the decision regarding whether or not to have GXChain in your portfolio should depend on your investment goals and risk tolerance. As a company and team, we are very aware that not all coins and projects have good intentions.