Blockchain
Gate.io Building DeFi Ecosystem On its Public Blockchain, GateChain
Global digital asset exchange, Gate.io, has announced building a highly-secure GateChain DeFi network, featuring stablecoin (USDG), Decentralized Exchange (DEX), Decentralized loan, and liquidity mining.
Gate.io’s revolutionary public blockchain, GateChain Mainnet, is already live. It offers an innovative Vault Account feature that can revoke stolen funds. The underlying technology and a high-performance fault-tolerant mechanism make it the desired solution to the widely prevalent asset security issue in the cryptocurrency space, guaranteeing 100% fund security.
GateChain Token (GT), the native token of GateChain, will serve as a crucial part of the GateChain DeFi eco. GT will be used as the collateral asset for getting the GateChain stablecoin USDG, while also being used for liquidity mining rewards and voting.
“Gate.io has always been a strong supporter of DeFi, considering DeFi technologies are an indispensable driving force behind the growth of the blockchain industry. At the same time, there are some concerns about the ever-increasing problem of asset security. Recently, we have seen many security incidents among the DeFi space where security is compromised due to smart contract bugs or management account breaches. GateChain’s Defi will provide 100 percent asset security with its novel features,” said Marie Tatibouet, CMO at Gate.io.
Significant Highlights of GateChain DeFi Infrastructure
- USDG: USDG will be the base currency for the GateChain DEX. Specifically, GateChain Defi will roll out stablecoin USDG through a Collateralized Debt Position, where anyone can collateralize GT and high-quality blockchain tokens to produce USDG. Users can trade USDG to provide liquidity and win rewards
- DEX: DEX is the core of the GateChain DeFi network. It is more open and transparent than centralized exchanges, enabling everyone to deploy a trading market. With its high transaction throughput (2000+TPS), and fast block confirmation (4s), GateChain is perfect for running a DEX
- Decentralized Lending: Using experience from existing Margin Lending and borrowing features of Gate.io, GateChain DEX will also be built into a platform that provides stunning borrow and lending services to the users
- Liquidity Mining: Gate.io will create a reward pool for the USDG network and GateChain Decentralized Lending system via GT buy-back
- Decentralized Governance: GateChain contains a Decentralized Governance mechanism, where each GT holder is eligible to vote. Users can participate through proposal submissions and voting
- Cross Chain: GateChain will integrate with multiple public chains such as Ethereum, Bitcoin, Cosmos, and Polkadot chains to enrich decentralized products.
- Fingerprint Hardware Wallet: GateChain Defi will provide a Fingerprint Hardware Wallet for daily use, ensuring the private key will be kept within the Hardware Wallet while enabling users to do routine trading and transfers
- Decentralized Oracle & Decentralized KYC: Gate.io will look into teaming up with Oracle pioneers and decentralized KYC leaders to prove relative services to its users, seeking to create a sustainable GateChain DeFi Eco with diversified DeFi products
Decentralized Finance (DeFi) has been gaining momentum. All kinds of products such as DeFi stablecoins, DeFi loaning platforms, and DeFi trading networks are growing in popularity with over $4 Billion locked in value in the DeFi space.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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