The Blockchain that is 9 times better than anything before it!

Several businesses have begun to adapt to the advanced technology behind what we now know of today as cryptocurrency. The crypto world does not just let you exchange tokens, and there’s more to it. Blockchain technology allows businesses to create platforms and new ecosystems that are very beneficial for both companies and their consumers.

About the Company

GEMMA started as a GXT blockchain project based on the diamond trading business in 2019. It launched a marketplace where users can purchase IDEX’s real diamonds with the GXT token. It was the first blockchain company to incorporate NFT into diamonds. Since then, the platform has been actively functioning, and in 2020, it introduced a diamond activation business that combines NFT technology to upgrade its service. In this process, the business status was specified with blockchain development and service, and various projects have been carried out to date.

GEMMA’s current goal is to expand the platform by developing a mainnet and contributing positively to the blockchain ecosystem through technical developments. Today, GEMMA has around 30,000 users.

GEMMA’s Vision

“To overcome the limitations of current blockchain technology and support DApp services through blockchain technology. GEMMA aims to grow as a blockchain technology company that makes significant achievements in the blockchain market with GEMMA’s unique differences”.

Low transaction commissions, high transaction per second, user-friendly platform, and eco-friendliness in terms of lower energy consumption in processing transactions are all ways that will be beneficial for blockchain users.

Low Transaction Commissions

Ethereum is one of the busiest blockchain networks currently operating due to yield farming platforms, record-breaking volumes on decentralized trading platforms, the minting of a growing number of NFTs daily, and the ever-increasing total value of funds locked. The higher the demand and popularity for Ethereum are, the higher the transaction cost will be.

Gas prices on a single UniSwap transaction can cost from $50 to $100, which is ineffective for small users on the Ethereum network. The Ethereum network is known as a layer 1 chain. The GEMMA network intends to use its distinctive layer to work off-chain to strengthen blockchain capacities. GEMMA will be able to offer a much stronger transaction speed and throughput, drastically decreasing transaction fees with a tremendously small transaction commission. The commissions will be 200 times cheaper than Ethereum.

Eco-Friendliness

The GEMMA network offers a more efficient and environmentally friendly solution. The network will leverage GPoS consensus. Consequently, allowing the GEMMA network community to handle transactions with far less energy consumption. However, it is also capable of handling 10,000 TPS simultaneously. Compared to the existing PoS method operating at 19TPS for Ethereum, it can be obvious how efficient it is with energy consumption. The large amount of energy consumption generated during a blockchain transaction process greatly influences the environment, and the mechanism of PoW is significantly responsible for energy consumption.

Today, being eco-friendly is a fundamental issue. As a blockchain company, GEMMA is also interested in environmental protection issues, so it will always be aiming to reduce energy consumption.

High Transaction per Second

A TPS plays a vital role in the crypto field, especially in the scalability of solutions. While Bitcoin’s blockchain can process 7 TPS, Ethereum can process 20 TPS, almost three times that of Bitcoin. The GEMMA network implements the latest technology that will enable you to perform 10,000 transactions per second.

A TPS plays a vital role in the crypto field, especially in the scalability of solutions. For example, if you take Bitcoin, its blockchain currently allows 7 TPS, which is not the best compared to other cryptocurrencies. While Ethereum, on the other hand, can process 20 TPS, which is almost three times that of Bitcoin. Therefore, the GEMMA network will enable approximately 10,000 transactions per second which is incredible.

User-Friendly Platform

The mass of knowledge on crypto available on the internet or somewhere else is mostly written in English. Considering that English is the most widely spoken language worldwide, some might not deem it fit for them. Not all people can easily understand and read English; some prefer their native language, which is why the GEMMA network will provide its users with multi-lingual support in more than 50 languages. Several languages will help beginners learn more about trading and the platform; millions of users will access blockchain technology.

Conclusion

The Blockchain ecosystem is full of wonders, some beneficial for users and the environment and some are not so beneficial. The solutions offered by the GEMMA network are very assuring and will make a big difference towards the environment and in assisting millions of users still to come.