Global digital asset platform, Gate.io has launched the new version of GateChain Testnet 3.0 with modern upgrades, including a redesigned network module and a new consensus mechanism.
As per the information shared with KoinPost, this is the third version of GateChain Testnet (Testnet 3.0) which operates at 2000+ TPS (Transactions per Second) and supports 1000+ validator nodes.
To support the new underlying architecture and consensus mechanism, the next-generation public blockchain platform is building a single module to launch it as an independent project. The latest improvements have come with the one-tap chain issuance feature that empowers external blockchain developers to utilize the platform’s open-source offerings governed under its intellectual property protocols.
“We launched GateChain Testnet 1.0 on September 30th, 2019, and have launched two more versions since then. The new Testnet versions strengthen GateChain’s ability to present a solution for security issues such as loss of private keys and cryptocurrency hacking- the big concerns in the industry. GateChain Testnet 4.0 is going to release in May 2020 with even better performance optimization engines. The GateChain Mainnet 1.0 will be released shortly after Testnet 4.0 around 2020 Q2,” said Marie Tatibouet, CMO at Gate.io.
GateChain is a public blockchain with unique asset security features with excellent network capacity. Its underlying architecture and consensus mechanism provide incredible speed for Transactions per Second and has maintained a record of 2000+ transactions in a single second.
The company claims that its system has designed in such a way that it provides the security to its nodes as well as lower the barriers for users to join the network and hence making the digital asset network more decentralized.
The digital asset platform is achieving heights with innovations while redefining the blockchain security and promoting the broader adoption of crypto-assets and blockchain technology across the world. Further, the company has invited users and researchers to test the product and experience the development of GateChain.
Lately, GateChain had announced the hodl & earn Ontology (ONT) PoS mining & Earn (Issue 3) with an annual interest rate of 12.44%.