The public chain (gxchain) is a data exchange public block chain created by the public trust team and is the bottom chain of the public information data exchange. It not only supports the high-frequency data exchange and exchange of the public data exchange, but also supports developers to develop applications. . Development and application on the public letter chain can not only make use of the technical characteristics of the blockchain, but also obtain the support of multi-dimensional data of various industries, and make valuable applications that are very valuable to the people's livelihood.
The application that has been developed and launched proves the commercial availability of the public trust chain. The first b2b application based on the public trust chain, the public trust decentralized exchange, has been officially commercialized on September 24, 2017.
The second application based on the public letter chain, the personal credit management tool for the public (Zhongbao dapp), will also release a beta version this year.
Their definition is as follows:
Gxs is a digital currency issued by public letters on the public trust chain. It not only has a circulation value, but is also a necessary encrypted digital currency based on the application of the public letter chain.
In simple terms, gxs is a token issued by public trust in the public trust chain. It can be traded on digital currency exchanges. Its application value is mainly reflected in the following aspects:
1. Development, certification of applications, use of on-chain services (such as miner's fees for transfer on the chain) on the public credit chain requires the payment or burning of gxs, which is the only token used as an application run on a chain.
2. As more and more customers and data sources of Kyungpho cooperate, the transaction volume of data exchanges will increase, and public trust will receive more commissions. The team will regularly take out 10% of the commission income. At the time, the price of the secondary market was repurchased and destroyed.
3. Can be used as a ballot when electing witnesses. (Not yet open)