GESIA Chain

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 What is GESIA Chain?


While Bitcoin and Ethereum (pre-merge) are public blockchains that require a high carbon footprint by design, GESIA Chain has a hybrid architecture to reduce the carbon footprint of the blockchain. GESIA Chain works as a sidechain with lightning protocol to ensure high transaction processing speed and is limitedly anchored on the public blockchain to maintain network compatibility and stability. As the main anchoring chain, GESIA Chain intends to fork Bitcoin, which has verified security and stability for an extended time.


Optimized transaction fee and carbon-free


A lightning protocol is a ‘Layer 2’ payment protocol layered on top of a blockchain-based cryptocurrency. At this time, the Proof of Work consensus algorithm, which consumes excessive energy, is changed to a Proof of Authority-based consensus algorithm so that the network consumes much less energy and transaction fee than a leading public network.


Proof of Authority (PoA)


Proof of Authority (PoA) is a type of blockchain consensus mechanism especially suited for private or permissioned blockchains. In the PoA method, identity and reputation are valued instead of cryptographic assets as in the case of Proof of Stake (ADA) or computational power in Proof of Work (BTC). Blockchains can be categorized into two groups- permissionless and permissioned. Both types use the same basic technology, but they differ in terms of access and participation.





Governance Token and Algorithmic Stablecoin


The GESIA Chain will be configured to be compatible with the upper public networks layer. There will be two virtual assets to foster the ecosystem


- 1. Green Earth community Token (GET): ERC-20-based token on the public network

- 2. Green Earth Coin (GEC): Native ecosystem coin on the lightning protocol


GEC is an algorithmic stablecoin whose value is fixed at the issuance, and GEC is issued when GET is deposited in a smart contract formed on the public network. The deposit event information and the price of the deposited GET are fixed through external DeFi. In the opposite case, the smart contract receives this information if the GEC is burned. It then proceeds with the liquidation procedure of deposited GET according to the given conditions



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Signed MOU with GESIA platform, GEC Foundation and ESG companies for CN (carbon neutrality)

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[Blockchain today]Signed MOU with GESIA platform, GEC Foundation and ESG companies for CN (carbon neutrality) [Blockchain Today — Reporter Jaemin Kim(김재민기자)] Gesia Platform announced on the 25th that it has signed MOUs with major domestic companies pursuing ESG management and carbon neutrality. Through the MOUs with ESG management companies, it was revealed that Gesia Chain and Gesia Platform will facilitate the purchase and distribution of carbon offsets for corporate carbon neutrality. The companies will be able to purchase and verify the necessary carbon offsets through the Gesia Platform. The companies included in the MOUs are carbon offset companies such as Lush Korea, carbon neutrality efforts companies like Sanghyo Botanical Garden Co.,Ltd , Allure korea , NICE Payments.co.,Ltd , cyworld z co. , Hallacement Co. , ASIA CEMENT CO.,LTD. , KIUM CONSTRUCTION CO.,Ltd , han dong construction co., ltd , Dareumplus.co.Ltd , PharmGen Science, Inc. , KC Cottrell Co., Ltd. , Korea Lube , E
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[Blockchain today]GESIA platform, GESIA Chain testnet open announcement [Blockchain Today — Reporter Jaemin Kim(김재민기자)] Gesia Platform announced the results of the test operation for the Gesia Chain testnet, which was launched on March 15, 2021. Gesia Chain, an EVM-compatible Layer 2 main net, launched on March 15th, has undergone various tests using web3, MetaMask, Remix, and other tools. It has received high evaluations from domestic and international blockchain technology companies and professionals. In particular, Gesia Chain’s carbon offset voucher (FV, NFV) and NFT technologies have received proposals for joint technology usage from overseas technology companies, and preparations for contracts are underway, indicating high praise for the ideas and technical completeness. Gesia Chain receives raw carbon offsets from carbon offset-holding companies, issues carbon offset vouchers in the form of vouchers, and allows distributors to purchase fragmented NFTs. This enables individuals a
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From Garbage to Gold

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