Breakthrough: GGX (Golden Gate) released the Sydney test network, an important step in cross-chain infrastructure

As an innovative cross-chain infrastructure protocol, GGX (Golden Gate) has achieved technological innovation in multiple cutting-edge fields in the Web3 technology ecosystem. These areas include interoperability, programmability, and zero-knowledge proofs. The strategic positioning of Golden Gate (GGX) is to promote cross-chain usability and solve cross-chain communication and liquidity challenges at the smart contract level in the Web3 industry.

By providing protocol-independent communication, GGX (Golden Gate) facilitates seamless interoperability between IBC, XCMP, and LayerZero protocols. The hybrid virtual machine of GGX (Golden Gate) is designed for cross-chain applications and is compatible with EVM, WASM and supported tools. The hybrid virtual machine can not only realize the development of native cross-chain applications, but also support innovative applications and cross-chain DeFi based on zero-knowledge proof. GGX (Golden Gate)'s custom Incentive Message Delivery Protocol (IMDP) utilizes a set of network delivery messengers running light clients to achieve efficient and scalable cross-chain communication.

GGX (Golden Gate) recently launched a validator incentive program to open its internal access to the wider developer community. Developers can use GGX (Golden Gate) to reduce the risk of fragile and vulnerable cross-chain infrastructure in the current market. GGX (Golden Gate) solves key problems in cross-chain application development by providing multi-party computing, embedded hybrid virtual machine and decentralized oracle functions, which enables developers to build safe and reliable cross-chain applications.

GGX (Golden Gate) Sydney Testnet Release: testnet.sydney.ggxchain.io

Today, some closed development and operation projects are taking advantage of the characteristics of GGX (Golden Gate) technology, taking advantage of the cross-chain support and programmability of GGX (Golden Gate) to build innovative DeFi projects. The Sydney Testnet Validator Program aims to attract and motivate people to participate in the Sydney Testnet. This is an important milestone on the GGX (Golden Gate) development roadmap and will further change our perception of interoperability.

The Sydney test network is a proof-of-stake network based on the Golden Gate (GGX) protocol, and is a simulation environment for the main network. The Golden Gate (GGX) testnet is designed to simulate real network behavior and activities, and it is now officially open, inviting validators, developers and blockchain enthusiasts to participate in the Sydney Testnet Validator Program.

In the hybrid virtual machine optimized by GGX (Golden Gate), EVM basic precompilation support for the zero-knowledge proof system is provided. Specifically, the Groth16 and Plonk proof systems are two zero-knowledge proof algorithms that are widely used and tested at present, and relevant settings have been included in their virtual machines. With seamless technical support, users can efficiently deploy and run zero-knowledge programs on the chain, and the gas costs required for their use are also expected to be reduced by up to 1000 times.

Technical features

• Token

The initial supply of GGXT (GGX TestNet) tokens is 1 billion pieces, and its APY reward rate decreases from the initial 14.93% to 6.7% year by year, and gradually approaches 2% after 30 years, and has remained stable since then. Such a design aims to simulate the behavior of the main network and provide a reference for the final token economy design of GGX (Golden Gate).

Please refer to the table below for detailed expectations.

In staking rewards, there are two relevant times: Epoch and Session. Each Epoch cycle lasts 24 hours and consists of six 4-hour Sessions. Staking rewards will be distributed to stakers in every 4-hour session, and for each nomination, validators will receive 5% of the total rewards, while the remaining 95% will be distributed between validators and nominators.

• Governance

Sydney TestNet introduces a democratic voting system. Any validator can propose network upgrades or changes to token economic parameters. These proposals will be voted on by all validators who have a minimum amount (1000 GGXT) of tokens. Acceptance or rejection of proposals will be decided by majority.

• Declaration and commitment

In order to prevent problems before they happen, the GGX (Golden Gate) team will hold privileged access to the network and have the right to upgrade and configure the network individually. This security measure is used in case of emergency, but the GGX (Golden Gate) team hopes that it is only a temporary configuration. As the GGX (Golden Gate) network matures, this emergency mechanism is no longer needed. If intervention is required, the GGX(Golden Gate) team promises full transparency and clearly communicates the actions they are taking to the community and network participants.

Currently, GGX (Golden Gate) has launched a new developer page:

Developers page: ggxchain.io/developers

In addition, GGX (Golden Gate) has also launched a testnet incentive page and a bug bounty interface. Developers who participate in relevant tests, discover and submit bugs will receive corresponding rewards.

1. Testnet incentive page: ggxchain.io/ggx-incentivized-testnet
2. Bugbounty：ggxchain.io/ggx-bug-bounty

About GGX(Golden Gate)

GGX (Golden Gate) is a cross-chain infrastructure that provides protocol-independent cross-chain communication and liquidity routing, and has a complete security architecture. GGX (Golden Gate) is providing the next generation of programmable Layer0, with embedded hybrid virtual machine and advanced DeFi orchestration functions, providing the key infrastructure for the emerging "blockchain Internet" of Web3.0. The GGX (Golden Gate) team helped build key components of the industry's first generation of fragmented infrastructure, and is now fulfilling its mission of "bringing seamless composability and enhanced security standards to Web3.0".

To learn more and get test network information, please visit the official website and community: