Native Coin (GSYS)
GSYS COIN is the native cryptocurrency, which will run on GChain, in the exact the same way that ETH runs on Ethereum, this means that GSYS can be used to:
• Pay gas to implement or invoke a smart contracts.
• Perform cross-chain operations, such as transferring tokens via GChain, Ethereum and Bitcoin, protect the network by staking or delegating.
Blockchain technology is the most robust, impressive and impenetrable technology created. This is one of the most important reasons why all cryptocurrencies are developed on the blockchain. As its name suggests, a blockchain is a set of blocks connected to each other by an impenetrable algorithm.
The logic behind blockchain technology is simple. Blockchain is decentralized in nature, any member of the network can check and verify the block at any point, is a transparent online accounting system, therefore it is the most trusted in terms of security, integrity, transparency and reliability. All transactions in the block can be reviewed, validated and verified by all members of the network. Before a single block is approved, all members of the network must reach a consensus:
Block = Data (sender, recipient and amount to be sent) + Hash (the unique signature) + Hash of the previous block A block includes the following: The first block in the blockchain is the Genesis block. Being the pioneer block in the blockchain, it does not have a previous hash. However, it does produce a hash (a unique signature) for the consecutive block. The second block uses the previous hash and produces a hash for the next block. This cycle continues uninterrupted.