This year has been another great one in terms of technological advancements in the blockchain sector. Today, there are more projects than ever. Each of these platforms serves as a small piece to the bigger blockchain puzzle. As with most trends, new technologies in the sector often see a parade of copycats. Eventually, it becomes difficult to determine who the originator of the concept was. One such platform that is sure to inspire duplicators is GSX.
GSX is unlike any other crypto project before it. It combines the most tried and true blockchain technologies along with some new proprietary protocols to create a next-generation coin. This coin is more flexible than its predecessors and provides users with unmatched security. Here are some of the features that make GSX so revolutionary.
What does it mean to be stablecoin? In the past, stablecoins would derive their value from a variety of single assets. These assets could include fiat currency such as with Tether USD, or commodities as found in Venezuela’s Petro dollar. It was actually crypto-pegged stable coins that pioneered using a basket of assets as the main mechanism for value.
GSX built on this concept to improve upon the current market standard. GSX is a gold-pinned stable coin. However, unlike its competition, the token doesn’t simply represent ownership in physical gold. GSX tokens act as a digital share of ownership in the firm’s entire operations. These operations are run by Apollo Financial and include 5,000 acres of gold-rich land, physical gold bullion and bars, and a plethora of high-end mining equipment.
It’s the combination of these assets that determine your coin’s true value. Additionally, this combination is also used to determine the rate of your yearly dividends. Yes, all GSX holders receive dividends based on the number of tokens they hold in their network wallet. The dispersal of these funds is automated via advanced smart contracts.
Investors in GSX need not worry about their coins becoming decoupled from their underlying assets. GSX employs a variety of top-notch auditing practices to keep investors in the loop. For example, GSX investors receive frequent audits of the firm’s official value and holdings. These audits are conducted by third-parties to ensure full transparency.
In the past, stablecoins have had a hard time remaining coupled to commodities. GSX is the first attempt to utilize the full weight of over a decade in blockchain advancements to accomplish this task. Where others failed, GSX has the strategy to succeed.
One example of a stablecoin decoupling from its underlying asset is Tether USD. That’s correct, the world’s most popular stablecoin originally entered the market as a 1:1 fiat-backed stable coin. After the company issued billions in Tether repeatedly, investigators began to question the validity of the firm’s claims. These questions led to the company changing its terms of service to state that USDT is backed by both fiat and Tether company loans.
While this was a major rift in the market, it didn’t keep Tether down for long, mainly because the stablecoin was the only one available to most investors at the time via exchanges like Binance. Today, this is not the case and most investors agree, they deserve a true stablecoin in the sector. Only GSX provides all the requirements needed to fulfill these demands and more.
Another amazing feature of GSX is its ability to be utilized as a day-to-day electronic cash system. GSX has an incredible transactions-per-second rate over that of PayPal. In comparison, Bitcoin only completes around 6 transactions a second. It’s this lack of scalability that caused Bitcoin’s network to stutter during the height of the 2017 crypto drive.
At times, Bitcoin transaction fees amounted to more than the actual transaction amounts. This time also saw transactions take days to complete. Bitcoin effectively failed its first test as a day-to-day cash system.
GSX allows users to send the value of gold, digitally. Best of all, there are barely any fees for the use of this network. You can send thousands of dollars in GSX for less than a dollar. These funds can be sent around the globe and they will arrive in minutes. Bitcoin would take hours to complete these transactions. Fiat would take days, and gold could take weeks.
One of the main draws to the GSX stablecoin is its underlying technology, the Apollo blockchain, Apollo is the only fourth-generation blockchain available to the public currently. As a next-gen network, Apollo exhibits some qualities that make previous blockchains pale in comparison.
For one, GSX will have full access to the Apollo ecosystem. Apollo has a robust development community. These developers amassed this project because of its flexibility and advanced features. For example, Apollo is one of the only blockchains in the world to utilize sharding. Sharding increases the storage rate of networks considerably. It gives Apollo developers unlimited space to create amazing protocols to revolutionize the market.
Future Security Today
Uniquely, GSX is the only stablecoin in the world that is Quantum resistant. Quantum computers continue to see development and use in research facilitates. In the next ten years, these futuristic supercomputers could be in every major city. Quantum computers are capable of creating enough power to overthrow many of your favorite blockchains using brute force alone. These concerns have made quantum resistance one of the core pillars of all fourth-gen blockchains.
GSX is the only digital asset in the world that has a built-in appreciation model in its coding. Since the value of Apollo’s operation is set to rise with every piece of gold removed from the mine, and the value of gold is set to increase over the foreseeable future, GSX is set to experience exponential appreciation. GSX token holders are also buffered against major losses because their digital asset gets its value from a combination of assets.