The world of blockchain has developed at an incredible pace, now being on the brink of bringing comprehensive Web 3 systems into the world. Yet, within this space of innovation, there’s still a great number of problems to overcome and solutions to find. While blockchain has a range of benefits, its interoperability, scalability, and security problems often lead to holes in the roadmap.
This is especially the case for new blockchain projects. Those that want to develop as quickly as possible must use pre-built structures and toolkits provided by legacy L1 systems like Ethereum. Yet, with more and more new projects flocking to these systems, the bar only rises higher. With more transactions coming through without any ability to scale, systems like Ethereum get seriously bogged down.
Of course, that’s not even mentioning the sky-high gas fees associated with moments of throttle on this system. If blockchain wants to continue to scale at a rapid pace, it must find solutions that allow developers to find the best of both worlds. Developers need access to these legacy systems in order to build, but cannot fall prey to the range of roadblocks associated with them.
That’s where GTON comes in. This web 3 infrastructure acts as an Ethereum rollup, allowing developers to access ETH-based tools. Yet, by then introducing a new stablecoin system, as well as the ability to use the GTON protocol to craft L3 and L4 systems, developers have all the flexibility without any of the issues.
In this article, we’ll dive into the GTON project, demonstrating exactly why this new platform is getting so much attention.
What’s GTON All About?
GTON is a leading Web 3 platform for infrastructure, bringing together the very best blockchain systems and technology into their ecosystem. Knowing the power of decentralized capital markets, GTON capital attempts to empower millions of users onto the blockchain. Whether they’re new to Web 3 systems or are already crypto pros, GTON offers all the tools and systems they’ll need to make the most of this world.
With decentralized ideals at their core, GTON uses a range of community structures to drive collaboration within their system. Instead of monopolizing the field, they offer everyone the chance to become an equitable part of their future global economy.
By using the GTON protocol, every blockchain system will have access to unparalleled technical power. From scalability to usability, GTON covers every part of what makes this system so effective. They aim to be the go-to system for when developers want to launch a project that falls under the Web 3 umbrella.
What is the GTON Vision?
Across DeFi applications, new L1 and L2 protocols, and a range of GameFi projects seeming to release every few days, we’re currently living in a blockchain explosion. All of these systems originate, either directly or passively, from the innovations that early blockchain networks like Bitcoin and Ethereum outlined.
These early proof-of-work consensus mechanisms are fantastic cryptocurrencies in many ways, but are failing to rise to the level of functionality needed for this explosion of new projects. Especially looking at the volatility of BTC and ETH, developing a major Web 3 system on these currencies is simply unreasonable. No system can afford 20-30% price swings on a whim and retrain its customers.
With that in mind, GTON is attempting to build a more stable future for blockchain systems. Instead of using cryptocurrencies that could vary in price and disrupt the entire ecosystem, GTON has developed stablecoins that are directly pegged to major world currencies.
Without the network congestion of cryptos like Ethereum or the massive swings of Bitcoin, GTON Capital allows Web 3 to become fully usable and stable. Their vision is to create a stable system where absolutely everyone can enter into the world of Web 3.
With their stablecoin as the main gas currency, there will be limitless scalability; blockchain unbound by the constraints of extortionate processing fees.
GTON’s Three-Part System
In order to reach GTON’s goals and deliver their vision, GTON Capital has split into three core system elements. Each of these elements represents a different part of their ecosystem, each building upon the next in order to deliver customers a comprehensive environment.
The three elements are the GTON Stablecoin, GTON Rollup, and GTOn Protocol. We’ll break down each one of these factors and demonstrate how it makes a difference to the network as a whole.
The GTON Capital Dollar acts as a multi-collateralized stablecoin protocol, creating strong links to the US dollar. As the main currency for the GTON network, the stablecoin will be the driving force for transactions, and will ensure that customers are always able to access low gas fees.
For developers, the introduction of this stablecoin provides a better pathway toward stability. This much-needed predictability is something that’s rarely been seen within the world of blockchain and will be a winning piece of the puzzle.
The GCD will be soft-pegged to the US dollar, via the construction of a series of smart contracts. By using collateral against ETH, BTC, and PAXG, as examples, it’s able to rapidly issue new GCDs in order to maintain the close peg.
With this system in place, GTON is able to create a stable, secure, and intelligent stablecoin system.
The GTON network is a rollup protocol on the Ethereum Optimistic platform. Using the GDC as a stablecoin, it breaks away from the common criticism of Ethereum itself. While a fantastic platform for building and developing, Ethereum is simply too volatile, especially when looking at its gas fees.
While relatively low right now, resting around $24 per transaction, this isn’t nearly as high as it has been, with some days spiking upwards of $400 per transaction. Even at the low $24, this is unsustainable for growth, putting off blockchain developers and instantly preventing the system from growing as quickly as possible.
As an EVM-compatible network, GTONNet allows for smart contracts to be written onto the Ethereum mainnet, as well as any other connected EVM-based systems. With that in mind, users and developers will have access to the same developer tools that make Ethereum such an effective platform to build on.
Even from a user perspective, the ability to access services like MetaMask wallet makes the onboarding process onto this system as easy as possible. How GTON differs from its competitors is that instead of also having to then rely on Ethereum’s gas fee structure within ETH, the inclusion of the GCD stablecoin further innovates the platform.
With GTON, users have access to all the flexibility and innovation of Ethereum without the price downsides. This system will help developers to rapidly scale their developments, creating unique and cost-efficient ETH-based DApps and systems.
While the GTONNet is constructed as a rollup system on the Ethereum mainnet, that doesn’t mean that its capabilities end there. Within the GTON protocol, developers are able scale to any other L3/4 layers that they have available. This means that instead of running a DApp or business directly on L1 Ethereum, businesses can create their own permissioned L3 systems.
Not having to build on Ethereum directly, users can create L3s on top of the GTON rollup itself. No matter what the user base is or whether the system needs additional network capacity, developers will be completely in control.
With this as its central offering, GTON capital allows millions of DApps within the Web 3 system to scale their enterprises however they would like. From Cybersports games or decentralized platforms, each system will have full control of its own L3/4 system, crafting an environment where their creations can thrive.
This unique offering is the core of what drives the GTON team, with their idea having the potential to empower billions of users around the globe.
GTON Capital is an exciting new innovation in the blockchain space. Taking many of the best projects in this field and pulling from their knowledge, GTON has crafted a fantastic Web 3 space that is rife with opportunity.
The blend of cutting-edge Web 3 technology with the stability that GTON’s stablecoin promises will provide a more comprehensive system for blockchain developers to build on. Beyond that, the introduction of the ability to build on top of the GTON rollup will help thousands of active blockchain projects create customized environments while still having access to the security of Ethereum.
If you’re looking for an exciting Web 3 project in this space, then GTON is definitely a project to keep an eye on over the coming months.