In this blog tutorial, we show you how to add GateChain to the MetaMask wallet. But first, we talk a bit about what GateChain is, what it does, etc. If you do not want to read about that and directly want to see how to add GateChain to MetaMask. You can go down this page and start reading “Getting GateChain on MetaMask” to learn how to add GateChain to MetaMask.
What is GateChain
The GateChain blockchain started the construction of the network in 2018, by the Gate.io exchange team. Not too long after it launched its main net, on 2020-06-29. The blockchain works as a complete EVM making it interoperable with other chains like BSC, Ethereum, Cosmos SDK, Fantom, and more. This gives the possibility to easily bridge to these chains as well as letting Dapps move over. But the chain offers more than just that. Because it also allows high transaction throughput. So Bitcoin can process around 7 transactions a second and Ethereum around 15 TPS. But GateChain has highly increased this number and can process up to 2000 TPS. Plus it has a 4 second block time, resulting in an almost instant block finality. So you do not have to wait very long for your transaction to confirm.
The Gate.io exchange has been one of the biggest cryptocurrency exchanges around. The company is owned by Gate technology and has been live since 2013. Making them one of the oldest running crypto exchanges in the world. The Gate.io exchange has evolved quite well together with the crypto market. Its daily volume has seen highs of multiple billion dollars a day. And on top of that, the exchange gained ranks in terms of exchanges rankings. With a current position of number 4 on Coinmarketcap. This has resulted mostly because of its active user engagement and high trading volume. If you have already used the Gate.io exchange. Do not forget to leave a Gate.io exchange review here!
The GateChain GT token has many use cases. Because the token is not only a network token. But also the Gate.io exchanges utility tokens. This means that you can use the Gate token on the exchange for many things, as Token sales, Gate io fees, trading fee discounts, and more. But besides that, the token’s main functionality happens on-chain. Here the token works as a governance token transaction token and smart contract deployment token. With a maximum supply of 300,000,000 Gatechain tokens. Just like on Ethereum and many other blockchains. You will need a token to pay the transaction fees on-chain. With the GateChain blockchain, this fee token is their Gate io token. Because of the high TPS of the chain, this transaction fee is luckily quite low. But besides a token for transaction fees, it also holds governance power. Here the Gate token can either be staked by a network validator or be delegated to a network validator. Both of these actions will earn staking rewards from the network. And last but not least, the token is needed to deploy smart contracts on the network in a similar fashion as on Ethereum.
Gatechain DEX HipoSwap
At the start of the GateChain, the Gate.io company started to build on it as well. With as one of the Dapps, the HipoSwap DEX. The Hipo Defi protocol allows for many things and is not just a DEX only. No, it also works as a cross-chain bridge, letting you send across different EVM blockchains. On top of that, it also works as a liquidity pool. So with this multi-asset Defi tool, you can earn interest, Swap, and bridge. Opening many doors for Defi users on the GateChain network.
GateChain Vault Account
A GateChain Vault account is an account with a revocable transaction model. It supports delayed transactions, letting you slow them down. When you create a Vault account, you need to bind a newly created Standard Account. As a control account. Because of this Vault account model on the GateChain. You can have more control over your on-chain assets. With some form of backup over your tokens. So that you no longer have to worry about private key loss or theft and can simply enjoy the digital era.
Proof Of Stake
Just like many other Exchanges created blockchains. GateChain runs on a Delegated Proof Of Stake (DPOS) consensus mechanism. This means that when you have some GateChain tokens, you can use them by delegating them to a validator. This in return gives you the possibility to earn some interest on your GT tokens. But besides delegating your tokens. You can also stake them yourself by becoming a validator. But, please do realize that this is not an easy task. Blockchain validators are the core of the network and usually require to hold quite a large stake in the network tokens.
How to buy the Gate token?
To use the GateChain network, you will of course need the Gate token. You can buy this token on many different platforms. With the most obvious one being the Gate.io exchange of course. But Gate.io is not the only exchange that self the token. No, also the Huobi, LBank, and Bitfinex exchange offer support of the token. But because the GT token at first launched as an ERC-20 token, you can find it on many decentralized exchanges (DEX’s) as well. So exchanges like UniSwap, SushiSwap, and many more can support it as well. And on top of that, it can move over to other EVM blockchains and trade on their DEX’s too.
Not that many wallets like Wallet.io have already added native support for the chain. But because of its EVM compatibility, you can add it manually to many EVM wallets. On top of that, there are also many exchanges that offer support for the chain/token. So it should not be difficult to find a storage place. But as the Blockchain’s user base grows we can expect that also more wallets will probably add support for the network. For now, you can find a wallet that supports it as a manual EVM chain. So it can connect to any EVM mobile, computer, or web wallet. You can find all these GateChain wallet apps for both Android, IOS, or any other operating system here on this page. So that you as a GateChain coin holder can find the perfect wallet that suits you. But today we take a look at the Metamask wallet and how you can Add GateChain to MetaMask. Now that you are all educated on GateChain let’s start and add GateChain to your wallet!
Getting GateChain on MetaMask
So to add the GateChain to MetaMask you have to open the MetaMask wallet (In case you don’t have MetaMask yet, please get it on this page). Once you have MetaMask installed, open it up on the full screen. So you will have the same screen as in our example here.
Now go to the top right of the screen where it says “Ethereum Mainnet” and click on the little arrow pointing down next to it. This opens the network’s tap where you can select all different types of EVM blockchains (Ethereum virtual machine) networks. Now here you can click on the Custom RPC to add a new custom EVM blockchain network of your choice. In this case, GateChain.
Now Metamask will ask you for the data needed to connect the wallet to GateChain. Please fill in the list below.
Network Name - GateChain
New RPC URL - https://evm.gatenode.ccGateChain
Chain ID - 86
Block Explorer URL - https://www.gatescan.org
When you have done this, you can just click save. And now you have added GateChain to your MetaMask wallet.
If you would like to switch between the EVM blockchains. Simply click on the Network button in the top right of the screen to select another blockchain.
Because adding different types of EVM blockchains works the same, you can add any EVM blockchain in the same way. But instead of the list given in this blog, you replace that with another network’s ChainID, symbol, etc.
We hope this blog post helped you to integrate a new EVM into your MetaMask crypto wallet. So that you can now use GateChain as much as you want.
Find your wallet here
In case you want to see all the other wallets supporting GateChain. You can simply take a look here to filter between all wallets that do!
So we hope this article taught you more about how to add GateChain to MetaMask wallet. But in case you have Questions regarding GateChain or Ethereum? Feel free to ask them on our online Facebook or Telegram groups. Because we are happy to help whenever we can!