GXChain is a foundational blockchain designed to serve the global data economy, aiming to create a network of trusted data values. GXChain leverages the performance advantages of a Graphene-based architecture underpinned by a Delegated Proof-of-Stake (DPoS) consensus mechanism. It also features complementary functionalities such as G-ID, GVM, BaaS, and Blockcity Pay for on-chain operations, making it convenient for various application developments. The development of GXChains trusted data components gradually connects each link in the chain of trusted data uploading, storage, computation, and exchange. There are already numerous practical applications, providing shared, governed, transparent, and secure underlying services for a multi-trillion-dollar data economy market.
In its early stages, GXB primarily focused on addressing pain points in the credit reporting industry, emphasizing digital identity and a trusted value network, with the launch of the corresponding product, BlockCity. Credit reporting involves collecting, maintaining, and managing credit information about transaction subjects. Its business-to-business (B2B) clients mainly come from the internet finance industry, including creditors who need to assess an entitys future repayment capabilities. Chinas credit reporting market is still in its infancy, lagging behind European and American markets. Centralized credit reporting agencies have an advantage in data richness and comprehensiveness. However, most of these agencies rely on the internet to form their own user base, data loops, and information silos, with little sharing behavior. This has led to the emergence of credit data trading scenarios and businesses involving consumers, merchants, financial institutions (such as Alipay, banks, and insurance companies). During this process, whether personal data privacy and interests are effectively protected is often unknown to consumers themselves. The popularity of internet finance has fueled illegal transactions in personal data, with most activities occurring without consumer authorization. Addressing the issue of "consumer control over personal data" is a critical entry point for GXB in the credit reporting sector.
As a foundational blockchain centered around the data economy, GXChain employs a DPoS consensus mechanism. Developers can build applications based on GXChain, and the platform provides trusted data components to enhance service delivery and conversion within the ecosystem. In both on-chain and off-chain governance, GXC serves as an incentive medium, covering voting, node elections, node maintenance, developer incentives, and community activities. The on-chain governance council can initiate proposals and vote to dynamically adjust parameters. In terms of usage and consumption, it involves the allocation of development resources, DApp payment settlements, and personal data transactions.
BlockCity is a mobile application built on GXChain, where user data is uploaded to the blockchain upon voluntary authorization.
Data value is a crucial resource in commercial competition. Within BlockCity, the identity G-ID is generated on the GXChain public blockchain and corresponds uniquely to natural person identities. Once created, G-IDs cannot be tampered with. After users authorize the collection of their personal data, GXB aggregates and securely stores it on the blockchain, entrusting the private keys to the users themselves. Data such as e-commerce records, consumption history, telecom data, educational credentials, and police records are collected only with explicit consent and used only when authorized by the individual, ensuring ownership and effective utilization of user data.
Related Links:
https://www.gxb.io/
https://www.dprating.com/zh/rating/report/83
