Ethereum gains in a quiet market as upgrade developments continue, GXChain is raided by Chinese police, ATOM gains 30% on Coinbase listing. 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.

We provide powerful trading tools and market education for traders of all levels. The decentralized data marketplace is a peer-to-peer alternative to traditional data transfer. That includes trade through third parties or underground data transmissions. This decentralized design has many advantages, including privacy protection, anonymity support, uncached data and fraud protections. GXChain has created a General ID or G-ID verification system that is used to verify each individual and to issue a unique G-ID that secures user data and prevents tampering with the data from other users.

GSX Breakdown

It quickly fell once more and traded between $1 and $2 until the November through January bull market in cryptocurrencies. 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 holders vote for delegates (also called witnesses) who do the validation of transactions and maintenance of the blockchain.

This range held even as most tokens were trading steadily lower throughout much of 2018, which is a promising sign for the future of the GXS token. 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. He also has experience with fintech and has been working in the blockchain space since 2012. And up until now there has been no way for the individual to generate compensation for their own data. In fact, with personal data spread so far across so many platforms it is becoming nearly impossible to even manage your own data, or know who has possession of it.

• 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.
• Many of us are well aware of how many applications and organizations currently collect and sell user data.
• 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.

These delegates are rewarded for their efforts with more GXS coins. With speeds of 100,000 transactions per second already, there are very few application types that would need more transactional speed. The GXChain also has support for the issuance of new assets or token types, making it similar to Ethereum. If you are planning to trade crypto, please consult a financial adviser.

Gold Secured Currency

GXChain is striving to be the data trading network of the future, protecting user data and privacy, offering copyright protections, and usability all at the same time. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

GXS Price Chart

The Gxchain price today is $1.80 USD with a 24 hour trading volume of $0.00 USD. In addition, GXChain has received investment funding from nearly a dozen different Chinese gxs crypto price investment agencies and funds. The all-time high for the GXS token was $10.38 on January 13, 2018. Since then the token has been trading in a range of $2.50 to $4.40.

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About GXS

While it’s difficult to find information about GXChain other than on their website and Medium blog, the project itself seems quite solid. Especially if you think any significant portion of the more than 1 billion Chinese population will eventually make use of the GXChain platform. Many of us are well aware of how many applications and organizations currently collect and sell user data. Even if they don’t sell the data directly, they use it in ways that generate profits for the corporations, but leave the individual, the true owner of that data, uncompensated.

Risk assets in traditional markets came under pressure as the accumulated overheating in equities (especially in techs) accompanied a trigger… The team is taking an interesting approach, in that any time a user spends GXS on an application, service or feature those tokens will be burnt, reducing the supply over time. This was implemented to avoid the devaluation of the token over time. It’s also promising to see the partnerships being formed by GXChain, and the stability of the token throughout 2018, when most cryptocurrencies were falling steadily. This could be an indication that the coin will rally strongly once cryptocurrencies recover. It is also a good indication of the value investors are giving to the project and the platform.

That said, it has indicated its intention to continue developing the project, although it doesn’t want to be held to a specific timeline for events. It does however report on its progress on a Medium blog on a weekly basis. By looking back through these updates it’s easy to see that the team has made many impressive accomplishments already. 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. There are three distinct components of the technology behind the GXChain platform.

Each component is designed for a different user group, and it is being called the “CBD” model by the team, which stands for Customer, Business, Developer. Gold Secured Currency price in US Dollar has decreased by -20.03% in the last 1 month. GSX is down -31.29% against Ethereum and down -28.38% against Bitcoin in the last 1 month.