Introduction
Using this document
This document is a detailed description of the GotaBit Network technology. GotaBit built a specific blockchain application from ground up using CosmosSDK, Tendermint core and other associated technologies seamlessly.
The following are quick links to relevant sections of the document.
Data protection and security
Companies that are in the Web3 internet space will ensure that their user data is protected and privately secured. Without it and the lack of owners control, the scale of sharing data transactions and data consumer search will increase with fraud and leaks.
Blockchain technology can provide data protection and security. Using smart contracts running on a blockchain platform, data is validated, implemented and then shared across a Peer-to-Peer (P2P) decentralized network using a Distributed Ledger Technology (DLT) that is available for all parties to provide transparency and accountability.
A blockchain that natively supports data protection and security is required.
About GotaBit
GotaBit has a team of software engineers that aims to deliver and resolve real world problems. The GotaBit Network is built for the next generation of Web3 internet.
The team has envisage that data is the main focus of GotaBit blockchain. Data is an asset. There are layers upon layers of data that are being collected, shared, distributed on the internet and monetized by the centralized data storage giants without the owners control. The GotaBit team is determined to return control to the producers of data on the Web3 internet.
GotaBit blockchain and CosmosSDK
GotaBit blockchain is an application specific blockchain built from an open-source CosmosSDK. GotaBit blockchain uses a Proof-Of-Stake (POS) consensus algorithm from Tendermint Core to connect to each other and other blockchains in a network arrangement.
GotaBit blockchain allows the creation of Web3 applications to run a cost-effective and affordable decentralized service platform. It is designed to facilitate the deployment of smart contracts inside a sandbox environment.
GotaBit blockchain is powered by a native currency called GTB token. The GTB token is used for governance and staking in the network’s decentralized and secured environment.