📚Glossary

Genesis Block: Genesis is the foundational block of a blockchain, and therefore your cryptocurrency blockchain starts from this block. It's also called Block 0, In a blockchain, each block is related to the previous block.

Hash: A hash is the most common term in blockchain technology. Each block in the blockchain generates a hash that is used as a unique signature to connect to the subsequent block. Hash helps to save a large amount of data, since it is stored in a cryptogenic order. Data in a massive blockchain can be easily traced when needed using the unique hash ID or corresponding timestamps. It can further help validate transactions once the cryptographic signatures are defined.

Proceedings: It is the record of each entry that takes place in the digital wallet similar to the bank updates you receive in your bank account. All digital inputs are coded instructions received by a sub-wallet. For example, if you receive some GSYS from another account, you will receive an update about this particular transaction in your cryptocurrency wallet.

Gas Rates: Gas refers to the fee required to successfully complete a transaction or execute a smart contract on the blockchain platform. It is also a remuneration given to validator and support nodes for verifying and validating transactions on the blockchain. The gas rate will be at a fixed rate, you may need to pay more gas fees if the network is busy or loaded with a high volume of block transactions. In such cases, you can consider paying more gas fees and have your transaction appear at the top of the node's validation list.

Nodes: Every node in the network must agree to each new block and the chain as a whole. These computers are known as "nodes." The nodes ensure that everyone who interacts with the blockchain has the same data, as it is a prerequisite that all have the same data. To achieve this distributed agreement, the blockchain requires a consensus mechanism; smart contracts are digital contracts stored on the Blockchain. Basically, it is a set of coded instructions that returns results when a function is requested. Sanctions coin and NFT based exchanges when required parameters are met. A smart contract is developed using the most common object-oriented programming language: Solidity. To be specific, Solidity uses syntax similar to other programming languages ​​such as Python, C++, and JavaScript. Since the smart contract is a script, it can be reused depending on the type and requirement. It can be easily customized according to the project before implementing it on your blockchain. As a developer, you can customize it according to your business needs before implementing it on your blockchain. Usually, once the smart contract is deployed, it cannot be modified. As a developer, if your smart contract needs to be adjusted or changed, you can consider an upgradable smart contract. It allows you to modify existing smart contracts using proxy patterns. After implementation, this proxy contract becomes a reference point for all transactions instead of the old logical contract. You can use this concept if you want to add new functionality or fix bugs as part of the new logic. This mechanism will only apply to smart contracts that require a valid change and based on logic, all nodes must be in a 90% agreement to be able to activate this function in said smart contract, This is a function that puts GChain as a of the pioneers in this type of process.