GC Chain Basics

What is Gnosis Chain?

  • Gnosis Chain was previously known as xDai Chain. Transactions on GC use the stable xDai token.
  • The Development team is made up of an experienced group of long-time blockchain & EVM chain developers.
  • Collaborators include initial validators like MakerDAO, Gnosis, and SyncNode & projects that support the ecosystem like theGraph, Tenderly and AnyBlock Analytics.
  • Users are worldwide, from crypto veterans to first-time users.

What is xDai?

  • xDai is the name of the stable native coin that lives on the chain.
  • The xDai coin is used for stable transactions and low, stable fees. It can also be used to back on-chain tokens (use cases for this include Event Currencies and Community Currencies)
  • The Gnosis Chain was previously called the Gnosis Chain.

History?

  • The xDai Stable Chain was born in October, 2018. The name was changed to Gnosis Chain during a token merger (between the STAKE and GNO tokens) in December, 2021.
  • POSDAO (Proof-of-Stake) consensus for selected validators was implemented April 1, 2020. It will continue until the merge of the Gnosis Chain and Gnosis Beacon Chain.

How to Connect?

Connecting to GC:
Wallet Addresses:
Since GC is an EVM chain, you can use the same wallet address you use for Ethereum and Ethereum testnets. Simply connect to the xDai network with your externally owned 0x address to get started.

Why use GC?

GC supports a wide range of applications with low, stable fees. GCi transactions are fast, very inexpensive, and require a single token (xDai).
GCo supports a decentralized, earth-friendly architecture with POSDAO consensus. It will move to a mirrored beacon-chain environment supporting Ethereum 2 in a canary-network like capacity.

What is the TPS (transactions per second or tx/sec) for the GC?

It depends on the type of transaction being sent:
  • Theoretical max: 119
  • Standard txs: 70 tx/sec

Is the Gnosis Chain secure?

We have contracted 3rd party security firms to conduct comprehensive audits on the xDai consensus, tokens, bridge and underlying architecture. We have resolved any issues they have found, and are committed to ongoing audits and comprehensive testing. However, we cannot anticipate all issues and users must assume risk when using any blockchain technologies.

I accidentally transferred funds to a contract address - what should I do?

It depends on the nature of the contract. If you accidentally sent to a token contract on GC (for example the STAKE, LINK or other bridged tokens), it may be possible for validators to retrieve these funds using the claimTokens functionality. However, this requires additional coordination and signature collection. If we are able to claim, there is a 10% fee to claim your mis-sent tokens.
This fee is then used to benefit the protocol. The team uses it to trade for STAKE tokens on Uniswap and then burn these STAKE tokens. In the future, MetaMask is planning to implement a warning message to help prevent sending funds to a token contract on accident.
If you accidentally sent to a contract, you can reach out to the team on Discord to see if they can help you.
Last modified 1mo ago