What is the GXChain2.0's reconstruction？AMA Recap: GXChain & TopDao Community

Carter Quan 丨 TopDao
Hello everyone, I am your host Carter, and joining us Today is Dani from GXChain! Hello Dani, I am sure our community members are excited, they are just muted for now lol, So without further due, let’s jump in our first question

Dani BIANS @ GXChain
It’s my great honor to do the AMA in TopDao community! Let’s do it!

Q1. Hello Dani, can you briefly introduce GXChain2.0 and what is the official positioning for it?

In the first place, GXChain2.0 is the self-iteration of GXChain1.0, which is more technically in line with the current blockchain tech and dev. trends, especially more inclined to the definition of “pan-Ethereum ecology”

For GXChain1.0 we give it a positioning as a public blockchain for data-economy in the vertical field, but for GXChain2.0 we are more willing to call it a free, lightweight, developer-friendly public blockchain, which sharing the infrastructure with Ethereum, GXChain2.0 will become the “experimental field” of Ethereum and the laboratory of DeFi innovation.

There are two reasons for this positioning. First, in the past post-2018, which was a boom year of public blockchain, the market’s perception and demand for the public blockchain field have undergone profound changed. Therefore, the positioning and ecological position of GXChain2.0 in the market need to be adjusted at a strategic level.

Second, the needs of current developers have also undergoing subtle changed. Among them, we observed two key points as a public blockchain team, we must respond to. The first is a friendly and lightweight development environment, and the second is a friendly and lightweight development environment. The need for parallel migration, that is, how to migrate to Ethereum more losslessly, and the Ethereum ecosystem can be shared and symbiotic, so based on the above two points, GXChain2.0 will “make a free, lightweight and development-friendly public blockchain” Continue to exert force in this direction.

Q2: Compared with other public chains, what are the technical features of GXChain 2.0, in other words, what are its advantages?

Compared with other public chains, our advantages are already obvious. Whether in terms of capital talents or more advanced technical architecture, we have corresponding advantages and voices. For example, on GXChain 2.0, there will be the following major features :

• Lightweight: Lightweight code construction based on open source projects such as LibP2P, EVM, Express, GRPC, and fast cross-platform installation and use;
• Soft fork: system contracts can be upgraded through governance;
• Cross-chain: Built-in cross-chain bridge, easy to achieve cross-chain between homogeneous and heterogeneous chains;
• blockchain-making as a service: Simple configuration to realize its own EVM compatible blockchain, and different consensus mechanisms, governance modules and built-in cross-chain functions through pluggable modules.
• Free: Through the Staking module, you can achieve free handling fees to meet high-frequency transactions and operations.

For the iteration of technology, we should consider the existing problems and possible future problems more ahead. According to our understanding of the public chain industry, GXChain2.0’s public chain advantages will meet the current development needs, and can be greatly improved. The scale avoids the current problems that Ethereum has encountered, such as high handling fees, periodic congestion, and so on, it will be a great leap of GXChain!!

Q3. In terms of code, GXChain2.0 has made those attempts, how high is the degree of independent originality?

Compared with GXChain1.0, GXChain2.0 is not a simple iterative upgrade, nor is it just a “re-engraved” parachain of Ethereum, because at the code level, GXChain2.0 is updated and refactored from the underlying architecture, and the core team started from Start coding at 0, which can be said to be a brand new chain.

The refactoring and attempts include the p2p module based on libp2p and discv5, and the business logic is completely separated from the p2p logic, the virtual machine module @etherumjs/vm, various features are fully compatible with Ethereum, and the consensus algorithm is Clique POA (test network) ), follow the EIP-225 implementation, use the powerful evm ecology, can seamlessly convert on Ethereum and GXChain2.0, etc.

Q4: How to understand the “lightweight” of GXChain2.0, where is it lighter, and what are the advantages?

The “lightweight” that we advocate is essentially more friendly to developers, reducing some unnecessary burdens. The first thing is that the installation and compilation are simple, and cross-platform programming can be realized. In the development language, we also try our best to develop Convenient services and considerations of the readers, so we chose typescript in the development language, in order to have a simple grammar, and objectively lower the barriers to development. In addition, our execution environment is based on nodejs, has a powerful package manager, and has less code redundancy, which is very practical and convenient for developers.

In addition, the underlying modules of GXChain2.0 use mature open source projects, the modules are clear and easy to maintain. In short, for the developer’s development experience, the most intuitive experience is “lightweight” and “simple”, which can provide the developers on the chain with the necessary convenience to the greatest extent, and also reduce the corresponding threshold and cost for the developers.

Q5: What do you think of Ethereum? The testnet of GXChain 2.0 is compatible with EVM and is called “Ethereum Parachain”. What will be the relationship between the two and what role will GXChain play? How to understand the “test field” in this theme?

The current advantages of Ethereum are very prominent. The advantage is that more and more projects in the public chain as the head are gathering, many excellent projects, and hot projects; the problem lies in the ecology of Ethereum, which responds to different users and To a certain extent, the needs of developers cannot be fully satisfied by Ethereum. For example, the problem of user usage cost, development cost, and other issues have become the “elephant in the room”, which cannot be ignored by everyone. For example, the prosperity of the EVM track and the popularity of Polygon some time ago reflected such problems to a certain extent.

The essence of the “test field” is that development can be completed in a lighter and lower cost way, but this is not enough. The premise of the test field is that it can seamlessly switch between the test field and Ethereum itself. In this case, GXChain2 .0 has become an objective depression of value, and it can also have an advantage in the competition on the same track, because in our opinion, since the antecedents of Ethereum already exist, the advantage of GXChain 2.0 is already established, then GXChain 2.0 will surely become one of the most advantageous options for some or even a large number of developers when considering which public chain to choose for development.

Q6. Can you briefly talk about the current status of the public chain industry. Under such a current situation, is the opportunity for GXChain 2.0 inevitable?

I have already mentioned this question in my answer just now, that is, the current public chain development has reached a new stage. The niche of the industry and their respective roles have become more and more clear. Since the outbreak of defi, the stock and consensus of a public chain become more important and solid under the explosive prosperity of DeFi. Therefore, the GXChain team’s consistent view is not to stand on the opposite side of Ethereum. It is a partner to do it. Based on this status quo, your question will arise, that is, for GXChain, is our development opportunity inevitable?

In my opinion, it is not only inevitable, but also has two “inevitability”, the first “inevitability”, the ecology of Ethereum also has its own problems, to meet the needs of different users and developers Ethereum to a certain extent There is no way to fully satisfy, for example, the problem of threshold, the problem of development cost, and the like, have become the “elephant in the room”, and everyone can’t ignore the problem, so there is room for improvement. For example, the front section The prosperity of the time EVM track and the popularity of Polygon reflect to a certain extent that there are two ways to improve this problem. 1. Reform from the inside of Ethereum, 2. The corresponding better solution proposed by the outside, I think GXChain 2.0 Transformation belongs to the latter. Given the relatively insufficient momentum and time effect of Ethereum itself, GXChain 2.0 must have enough time and opportunities to hand over its own answers.

The second “inevitability”, GXChain 1.0 has been 4 years since it went online in 2017. During this period, we have accumulated a large number of developers, chain users, domestic and overseas popularity and industry experience. Objectively speaking, GXChain The previous accumulation is also at the forefront of the industry, so we have reason to believe that the accumulation of years before will inevitably help the rapid development of GXChain2.0 in all aspects, and become a booster and strong driving force for GXChain2.0 to start again.

Q7. The testnet of GXChain2.0 has been launched, when will the official version be launched? In addition, what functions will be added in the official version?

The official version is planned for December this year. The official version of GXChain 2.0 will include the following core functions:

A new DPoS consensus mechanism is implemented on the basis of clique, and node election, node governance and revenue distribution are realized through built-in smart contracts;

Realize a free economic model, GXC holders can obtain free computing resources on the premise of holding GXC, making the experience of using GXChain2.0 cheap and efficient

Q8. Recently, the popularity of NFT and Metaverse has been increasing. Does GXChain 2.0 have a layout for this part of the application?

Metaverse is currently a very hot trend. GXChain is also actively deploying. We believe that Metaverse is still very early, and the current technical conditions and user education are still the threshold for entering the metaverse era. The prelude to the meta universe or the admission ticket is NFT. GXChain already has its own NFT protocol and system.

The NFT popularity on GXChain is also very high and it plays a role in community governance, transaction collection, etc. It plays an important role. GXChain is already in progress regarding the layout of the metauniverse. For example, it supports some projects in the fields of metauniverse related NFTs, interactive methods, content production, economic systems, and standard protocols. The gradual breakthroughs will gradually bring them closer to the metauniverse. The distance of the times.

Q9. How will the GXChain2.0 official attract outstanding developers and defi project parties, and what kind of project development will it support?

This is a very good question, because it is a problem that all public chain project parties need to face. I will answer this question from two parts:

First, a better development environment, lighter development content, and interconnection with the Ethereum ecosystem are themselves a great attraction for developers, because interconnection with the Ethereum ecosystem first means greater Audiences and on-chain users, GXChain’s user base is still very large. For developers, it can radiate GXChain’s on-chain users and Ethereum’s ecological users, especially in the defi field. There are currently many users in the GXChain ecosystem that choose to cross The chain participates in the ecology of Ethereum, including participation in mining, dex transactions, etc., so it radiates the user audiences of the two public chains at the same time

Second, strengthen corresponding support and focus on supporting project development in frontier fields, such as lending, MEV, aggregators and other fields. We also have corresponding research and observation members in-house. We will have our own research and observation members for current hotspots and future defi development. Thinking angles and reference directions. For promising defi fields and development directions, we will provide multi-faceted development support, such as developer funds, user and market strategy support, and even project operation support. This will It is straightforward to make the ecology prosper and benefit the participants in the ecology.

Under the above two conditions, GXChain 2.0 can have more advantages to establish its own DeFi application ecology, and it is still interoperable with the Ethereum ecology. In the future, GXChain can also be used for liquidity mining through the settled project parties. Mines can be asset mortgages, lightning exchanges, and loans, which are of great help to the long-term development of GXChain.

At the same time, this is also a self-completeness for the GXChain2.0 ecology that is further than technically complete.

Q10. What is the route planning of GXChain 2.0 in the near future and in the future?

Yes, this is a very grand question, but the the crypto world requires a real layout plan, hard work and down-to-earth.

First, complete the necessary upgrades in the roadmap. The technical progress will be completed in accordance with the roadmap, including the introduction of staking and slashing models from August to October, and the cross-chain interoperability of 1.0 and 2.0 after the mainnet launch in December to improve our own ecology. This is the first step. GXChain is doing more infrastructure rather than individual applications. Therefore, we will further develop more infrastructure on the chain. First, we will achieve self-completeness from the perspective of the underlying public chain.

Second, we will find a lot of developers. Developers are the core at all times. Rewards and regulations for developers and support for the market will be put on the agenda, especially for developers and project parties in the above-mentioned areas. Aggregators, synthetic assets, etc.

Thirdly, for the upgrade of market strategy, first, the GXChain ecosystem is not a closed-loop ecosystem but needs more participants, developers and users. Cooperation and interconnection with more Defi ecosystems is also one of the important future plans. At the same time We will continue to promote the globalization and internationalization of the team. At present, the overseas ecology is still growing. The blockchain world is already in the process of moving the whole body. After overseas, the layout will be deeper and the cooperation partners will be more extensive. And comprehensive, including the head exchange, the head encryption community, and the development team.

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