In this blog tutorial we show you how to add gatechain to metamask wallet. but first, let’s talk a bit about what gatechain is, what it does, etc. if you don’t want to read about it and want to see directly how to add gatechain to metamask. you can go to this page and start reading “get gatechain in metamask” to learn how to add gatechain to metamask.
what is the access string
The gatechain blockchain began construction of the network in 2018, by the gate.io exchange team. not long after it launched its mainnet, on 2020-06-29. the blockchain works as a full evm making it interoperable with other chains like bsc, ethereum, cosmos sdk, fantom and more. this provides the ability to easily connect with these chains and allow dapps to move around. but the chain offers more than that. because it also enables high transaction throughput. so bitcoin can process around 7 transactions per second and ethereum around 15 tps. but gatechain has greatly increased this number and can process up to 2000 tps. In addition, it has a lock time of 4 seconds, which results in almost instant lock finality. so you don’t have to wait long for your transaction to be confirmed.
access string exchange
gate.io exchange has been one of the largest cryptocurrency exchanges out there. The company is owned by Gate Technology and has been active since 2013, making them one of the oldest operating crypto exchanges in the world. the gate.io exchange has evolved quite well along with the crypto market. its daily volume has reached highs of billions of dollars a day. and on top of that, the exchange gained ranks in terms of ranking exchanges. with a current position of number 4 on coinmarketcap. this is mainly due to its active user participation and high trading volume. if you have already used the gate.io exchange. Don’t forget to leave a gate.io exchange review here!
access string token
the gatechain gt token has many use cases. because the token is not just a network token. but also gate.io exchanges utility tokens. This means you can use the gate token on the exchange for many things like token sales, io gate fees, trading fee discounts and more. but besides that, the main functionality of the token happens on the chain. here, the token functions as a governance token transaction token and a smart contract implementation token. with a maximum supply of 300,000,000 access chain tokens. just like in ethereum and many other blockchains. you will need a token to pay for on-chain transaction fees. With the gatechain blockchain, this fee token is your gate io token. Due to the high tps of the chain, this transaction fee is fortunately quite low. but in addition to a token for transaction fees, it also has governance power. here the gate token can be staked by a network validator or delegated to a network validator. both actions will earn participation rewards from the network. and last but not least, the token is needed to implement smart contracts on the network similar to ethereum.
gatechain dex hyposwap
At the beginning of the access chain, the gate.io company also began to develop it. with as one of the dapps, the hyposwap dex. the hiccup defi protocol allows a lot of things and it’s not just a dex. no, it also works as a cross-chain bridge, allowing you to send across different evm blockchains. In addition to that, it also works as a liquidity pool. therefore, with this multi-asset definition tool, you can earn interest, trade and bridge. opening many doors for defi users in the gatechain network.
access string vault account
a gatechain vault account is an account with a revocable transaction model. supports delayed transactions, allowing you to slow them down. when you create a vault account, you need to link a newly created standard account. as a control account. due to this vault account model in the access chain. you can have more control over your on-chain assets. with some form of backing on your tokens. so you no longer have to worry about the private key being lost or stolen and can simply enjoy the digital age.
proof of stake
just like many other exchanges they created blockchains. gatechain runs on a delegated proof-of-stake (dpos) consensus mechanism. this means that when you have some access chain tokens, you can use them by delegating them to a validator. this in return gives you the ability to earn some interest on your gt tokens. but in addition to delegating your tokens. you can also stake them yourself by becoming a validator. but please keep in mind that this is not an easy task. Blockchain validators are the core of the network and typically require a fairly large stake in the network’s tokens.
how to buy door token?
To use the gatechain network, you will of course need the gate token. you can buy this token on many different platforms. the most obvious being the gate.io exchange, of course. but gate.io is not the only exchange that owns the token. no, also huobi, lbank and bitfinex exchanges offer support for the token. but because the gt token was initially released as an erc-20 token, you can also find it on many decentralized exchanges (dex). so exchanges like uniswap, sushiswap and many more can support it as well. and on top of that you can move to other evm blockchains and trade their dex as well.
wallets with chain
Not that many wallets like wallet.io have already added native support for the chain. but due to its compatibility with evm, you can manually add it to many evm wallets. In addition to that, there are also many exchanges that offer support for the chain/token. so it shouldn’t be hard to find a storage place. but as the blockchain user base grows, we can expect that more wallets will likely add support for the network as well. for now you can find a wallet that supports it as a manual evm chain. so you can connect to any evm mobile device, computer or web wallet. You can find all these gatechain wallet apps for android, ios or any other operating system here on this page. so that you, as a gatechain coin holder, can find the perfect wallet that suits you. but today we take a look at metamask wallet and how you can add gatechain to metamask. Now that everyone is up to speed on gatechain, let’s get started and add gatechain to your wallet!
getting gatechain in metamask
then to add access string to metamask you need to open metamask wallet (in case you don’t have metamask yet, get it on this page). once you have installed metamask, open it in full screen. so you will have the same screen as in our example here.