GTEX POA Network is a consortium blockchain designed for gaming industry. Consortium blockchains are chains where several organizations or institutions participate in management of the chain. Each organization or institution controls one or more nodes to record transaction data. Only these organizations and institutions can verify and write data, however, reading and sending data is open to all participants of the network.
According to our in-depth research, we believe that utilizing a consortium chain architecture is the most efficient way to solve the shortcomings caused by the current public chain performance and consensus mechanism. This includes transfer speed, transfer fee, CPU bandwidth, capacity limitations and other issues.
That is why GTEX has developed a consortium chain dedicated to the gaming ecosystem – the GTEX POA network. This is based on the Proof of Authority consensus algorithm, which will be generated by the alliance of nodes. Authorized nodes will be required to reveal their identity and will be game developers in the ecosystem, player community organizations and other types of stakeholders within the gaming industry. The Authorized Node will provide transaction verification for the entire blockchain and jointly manage the autonomous network through a smart contract mechanism.
GTEX POA network is differentiated from the current mainstream public chains:
Proof of Authority (PoA) - Unlike PoW (Proof of Work), which needs to solve mathematical problems to generate blocks, the GTEX consortium chain will adopt the PoA consensus algorithm, which is responsible for generating blocks.
Authorized nodes - Nodes are gaming companies, player community organizations and other types of reliable companies in the gaming industry. Each node will reveal its identity to ensure the safe and efficient operation of the network. Nodes can only become authorized after proper application and legal/technology processes.
Gasless Network- The GTEX POA network will have no GAS fees. Payments and transfers will be free.
GTEX POA network will be governed by each node and will be responsible for the licensing of games and smart contracts deployed on the consortium chain. The model of the consortium chain will help users adapt to the ecosystem and developmental environment of the blockchain, and let more gaming companies participate in the maintenance of nodes. The specific rules of the consortium chain governance will be released on our official website, and will be open to all consortium chain members and users.
The GTEX POA network will not only be compatible with the blockchain DApp games, but it will also support the traditional games with their in-game economy systems. We will provide support for traditional games to adjust to GTEX’s unique token payment system, transfer game income and user acquisition to the blockchain, better link users and increase income through our wallet account system.