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bitcoin
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ethereum
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$4,003 -3.79%
binancecoin
BNB (BINANCECOIN)
$995.95 -1.47%
solana
Solana (SOLANA)
$201.22 -5.80%
ripple
XRP (RIPPLE)
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shiba-inu
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$0.000012 -2.84%
pepe
Pepe (PEPE)
$0.000009 -3.19%
bonk
Bonk (BONK)
$0.000020 -4.88%
bitcoin
Bitcoin (BITCOIN)
$111,626 -1.51%
ethereum
Ethereum (ETHEREUM)
$4,003 -3.79%
binancecoin
BNB (BINANCECOIN)
$995.95 -1.47%
solana
Solana (SOLANA)
$201.22 -5.80%
ripple
XRP (RIPPLE)
$2.83 -3.81%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 -2.84%
pepe
Pepe (PEPE)
$0.000009 -3.19%
bonk
Bonk (BONK)
$0.000020 -4.88%
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Gate Launches Gate Layer for High-Performance Blockchain Solutions

Highlights:

  • Gate Layer offers over 5,700 transactions per second and ultra-low fees.
  • GateLayer enhances scalability and cross-chain interoperability with LayerZero.
  • The GT token undergoes deflationary upgrades with quarterly burns.

The prominent cryptocurrency exchange, Gate, has launched a state-of-the-art Layer 2 blockchain, Gate Layer. This solution is based on OP Stack and offers a strong degree of scalability at minimal cost and high performance. 

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GateChain provides complete security to Gate Layer, with a solid settlement layer to conduct secure transactions. The launch of this Layer 2 network is a turning point in the “All in Web3” strategy that Gate is pursuing to increase blockchain adoption.

Gate Layer Features and Performance

Gate Layer provides a list of significant features that make it different from other Layer 2 solutions. First, it serves more than 5,700 transactions per second (TPS), a higher number than most Layer 1 blockchains. Blocks are processed by the network on a per-second basis, with minimal delays. This good throughput will enable a smooth experience for both the users and the developers.

Gate Layer has ultra-low charges, and thus, it is affordable to a larger audience. Less than $30 can process one million transactions within the network. This is a stark contrast to the $700 fee on Base and significantly greater fees on networks such as the BNB Chain and Solana.

The next notable quality of the Gate Layer is the complete compatibility with the Ethereum Virtual Machine (EVM). The compatibility allows developers to migrate their decentralized applications to the network with ease and smooth access to such tools as MetaMask. Moreover, cross-chain interoperability via Gate Layer, which is built on the LayerZero platform. This enables users to move assets across the largest blockchains, such as Ethereum, BNB Chain, and Solana.

GT Token Upgrade and Deflationary Model

Along with the release of Gate Layer, Gate has improved its native GT token. GT is currently used as the sole gas token in the Gate Layer ecosystem. This implies that the clients will be required to use GT tokens to spend on transaction fees, contract deployments, NFT mints, and cross-chain transfers.

The major characteristic of the GT token upgrade is the deflationary model. To add value to the remaining tokens, Gate has committed to burning GT tokens periodically to decrease the overall supply. By the end of Q2 2025, more than 180 million GT tokens, about 60% of the total supply, will have been removed permanently.

GateChain and Ecosystem Upgrades

Gate has also developed an upgrade of its underlying blockchain, GateChain, to work with the new Gate Layer. The most significant addition to GateChain is the addition of blob transaction support through the EIP-4844 standard. This improvement augments network throughput and reduces gas costs. The upgrade of GateChain also features the addition of the Cancun edition of the EVM and adds the support of 12 other Ethereum Improvement Proposals (EIPs).

Moreover, Gate has launched three major products to help facilitate the Gate Layer ecosystem. Perp, a decentralized perpetual futures trading platform, Gate Fun, a no-code token launch platform and Meme Go, a real-time meme token trading platform.

Gate Layer finds itself in a competitive environment with other significant cryptocurrency exchanges that have also introduced their own Layer 2. In April 2024, OKX introduced X Layer, an Ethereum-based Zero Knowledge (ZK) Layer 2 based on Polygon Chain Development Kit (CDK). X Layer lays emphasis on scalability, security, and interoperability, and has supported the launch of more than 200 decentralized applications.

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