GXChain bills itself as ‘a blockchain for the global data economy, designed to build a trusted data internet of value’. Leveraging the DPoS-based Graphene as the underlying architecture, GXChain’s functionality includes G-ID, GVM, BaaS and Blockcity, which reportedly streamlines application development. Blockcity , the GXChain-based DApp, reportedly has more than 2M verified users and provides data for other DApps and strategic partners. GXChain launched a decentralized data marketplace which reportedly serves hundreds of Chinese enterprises. The GXChain team launched its mainnet in June 2017.
What Is GXChain?
GXChain is an industrial-level, permissionless blockchain meant to create a trusted data internet of value. It was created by the KPX team to gather millions of verified ID users and trusted nodes to facilitate a secure environment. GXchain uses two cryptocurrency tokens: GXS (originally issued) and GXC, which uses Delegated Proof of Stake (DPoS) consensus.
The GXChain team says they’re building a trusted internet of value, and that’s a double-edged sword with today’s blurred privacy lines. Facebook somewhat acts in this manner – using our Facebook accounts to login for comments on many major media platforms keeps an air of civility in conversations.
On a government level, Social Security Numbers are used to track American citizens for tax purposes. That identification number can also be used to find credit history, job history, and other id verification needed to approve loans, employment, taxes, and more.
GXChain’s infrastructure addresses key concerns in data ownership, security, and integrity.
The first major development on GXChain so far is Blockcity, one of the most active blockchain communities in the world, with approximately 2.2 million users as of the beginning of 2019. Blockcity is a mobile dApp that consolidates user data into an encrypted file that can the be used to earn GXC.
And according to China’s Global Blockchain Assessment Index, GXChain is the fourth best blockchain on the planet – or at least, it was in July 2018.
So what is it about GXchain that has so many people flocking to its products and staying happy?
Before exploring the project’s technology, let’s review GXS and GXC, the proprietary cryptocurrency token used on the GXChain network.
How do I buy cryptocurrency?
While some cryptocurrencies, including bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoin or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as bitcoin or ethereum.
Coinbase is one popular cryptocurrency trading exchange where you can create both a wallet and buy and sell bitcoin and other cryptocurrencies.