Posted by admin on May 2, 2019
We are excited to finally announce our newest upcoming features coming in 2019. This blog provides an overview of each of the new updates to our platform.
We have been working tirelessly to ensure the development of our main product, adding a feature that no other competitor out there offers – merged mining. For the publishers using Gath3r, this entails higher profitability and hedging against downturns in the crypto markets. For the networks that Gath3r will mine, this means increased hashrate for both, enhancing security and lowering the chance of a 51% attack.
Merged mining is a lesser known facet of crypto mining, entailing the mining of two coins based on the same algorithm, simultaneously.
Perhaps the most know example of this is Bitcoin and Namecoin. In any merged mining process, there has to be a parent chain and an auxiliary chain. In the example above, Bitcoin’s chain would be the parent and Namecoin’s chain would be the auxiliary one.
Additionally, a huge benefit for the visitors of publishers using Gath3r, is that the process of merged mining does not require any additional processing power from the mining units. This means that it will in no way negatively impact or strain the processors of any visitors, only create more profits for the publishers.
The Gath3r platform will move to its own blockchain, operating Masternodes on a Proof of Stake system, allowing for staking for GTH coin holders.
Features like web mining will use a web lite chain with a compressed web-lite Proof of Work blockchain node that is locally stored on the browser for very specific purposes only, leaving out much of the heavy data. The rest of the data will be on Masternodes, which host the full blockchain – the web-lite server syncs with the Masternode – Masternodes are mandatory and web-lite chains will not work without them.
With the help of private Masternodes, Gath3r acts as a unifying bond between blockchain ecosystems.
Smart Contracts and Interoperability
Built-in smart contracts permit interactions with other coins, without adding any work to the parent chain. Having two coins mined for the price of one helps miners save up resources while providing the same amounts of hash power to both networks, helping the child chain. It also gives them the ability to earn more for doing the same work, which is always a bonus and a good motivator to get into merged mining. Gath3r is built as a turn-key solution that allows developers to fork or clone an existing blockchain, develop and deploy their own coin or platform. This Smart Contract capability permits the interoperability of block chains through Gath3r and Private Masternodes. These Smart Contracts can be deployed directly from a GUI and can trigger cross network transactions and tasks based on pre-defined conditions. This will enable the technical scaling of the network to build Enterprise DApps on the Gath3r chain.
Gath3r will integrate a one stop shop, turn-key solution for all crypto related issuance needs of companies. This will give businesses and developers the option to create and launch/fork their product/service on the GTH chain payable in USD. The chain launch, development and mining (since the coin would be merged mined with GTH, and GTH would be mined by websites and applications) are all covered under the service.
The Gath3r Foundation
Another important update to be presented will be The Gath3r Foundation. As an independent entity, part of the capital raised during the token sale will be allocated to the Gath3r Foundation. The main purpose of the foundation will be to allocate grants to promising projects or developers who wish to build on the Gath3r blockchain. Gath3r’s holding company will be independent of the foundation and will have no control over it. This will be exerted by a board made of third party shareholders, as well as some of the Gath3r founders, to ensure fairness and transparency.
Our team is continuously working on new technical updates such as this, which we will announce in the coming weeks, so stay tuned to our social channels to be the first to learn about them!