With the 5G coming up, Artificial Intelligence, and Internet Of Things, a huge amount of data can be generated. This is the bigdata era. With the big data processing capabilities, a new economy comes up. It is the data economy. As everything in life, new threats, are coming in. Globally, there is a trend, that the data belong to the individual, that generates them, and not the big corporations, that handle the data.
Governance, is a key aspect of a public blockchain. GXChaincombines “On-Chain”, and Off-chain” governance simultaneously. The “On-Chain” governance is comprised of the committee and the Trustnodes. The committee constitutes, of 11 members, that vote for the modification, of the global parameters, of GXChain. The Trustnodes, are 21 members, who are in charge, of transaction verification, production, and broadcast of blocks. The income of the nodes come from block production, and transmission. The block reward, is the block’s transaction fees, and a reward from the GXChain foundation.
The execution committee, is responsible, for the daily operations, of the foundation. This committee, is headed, by the execution officer, that manages most of the foundation’s work, and other subdivisions. There are four subsidiary panels. The Ecosystem panel, the Code Evaluation panel, the Marketing panel, and the Administration panel.
The core asset of governance and application on GXChain, is the GXC token. With a total supply of 100 million GXC. It can be used for dApp creation, Smart Contract Deployment, Blockchain as a service, Asset Insurance, and Developer Registration. All dApps, on GXChain, support GXC token payments, for goods and services.