Cryptocurrency attributes
Other attributes
GXChain is a blockchain-based online marketplace for file storage and personal data that launched in September 2017. The platform validates the real identity of its users and allows them to securely store and a manage their data. GXChain uses a Delegated Proof-of-Stake (DPoS) consensus mechanism and uses their own native cryptocurrency called GXC to power their data marketplace.
Introduction to GXChain.
GXChain provides its users with a unique general identity (G-ID) which functions as a method of letting users interact with various blockchain-based decentralized applications while maintaining ownership of their data. Users authorize what data they want GXChain to store for them. User data is asymmetrically encrypted and stored on the GXChain sidechain because GXChain does not cache any user data. All data-key information is stored at the local level and cannot be accessed by other users on the GXChain network.
The on-chain governance of GXChain has three utilities which include on-chain proposals, on-chain voting, and TrustNode maintenance. On-chain proposals consume GXC and are made by GXChain committee members. For committee members to approve a proposal they are required to use GXC as a payment. On-Chain voting uses GXC as a ballot for the election of TrustNodes and policy committee members. TrustNode maintenance requires the consumption of GXC when they are changing or created. For off-chain governance GXChain offers developers and general GXChain users GXC as a reward for participating in GXChain community development.
Figure 9 taken from the GXChain white paper.
The following table describes how GXC is distributed:
