Token

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/galachain-develops-a-decentralized-network-to-boost-token-value/" data-wpel-link="internal">GalaChain Develops a Decentralized Network to Boost Token Value</a><br></p>
<p>The efforts of <a href="https://en.coin-turk.com/memecoins-may-disappoint-new-investors-in-2024/" data-wpel-link="internal">altcoins</a> to build their own networks have significant effects on <a href="https://en.coin-turk.com/elon-musk-faces-a-setback-in-dogecoin-related-lawsuit-as-key-lawyer-withdraws/" data-wpel-link="internal">token</a> prices. Numerous cryptocurrencies have developed their networks. In a multi-chain world, network launches are beneficial for both reducing transaction fees and maintaining community cohesion. Today, Gala announced important details regarding its own network.</p> 
<h2 id="galachain">GalaChain</h2> 
<p>In collaboration with LF Decentralized Trust, a technical document (whitepaper) has been prepared for the decentralization of the network. Here, the goal is to increase the security, scalability, and flexibility of GalaChain for further growth. A comprehensive roadmap outlines a four-phase strategy.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-399630 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/galachain.png" alt="" width="1018" height="530"></p> 
<h3 id="transition-from-raft-to-bft">Transition from Raft to BFT</h3> 
<p>The network will transition to a different structure from the Raft consensus mechanism. The Byzantine Fault Tolerance (BFT) algorithm is a structure heavily utilized by decentralized networks, focusing on decentralization. The aim is to enhance security while reducing fault tolerance.</p> 
<h3 id="global-distribution">Global Distribution</h3> 
<p>Geographical distribution of servers is crucial for decentralization. With GalaChain, the network will become more secure and decentralized, transforming into a truly international platform for decentralized applications (dApps).</p> 
<h3 id="gala-founder-nodes">Gala Founder Nodes</h3> 
<p>The decentralized architecture will leverage over 40,000 existing Gala Founder Nodes to create a more diverse and flexible network. Founder Node operators will play a significant role in the new consensus process, participating as validators and being rewarded for their contributions to the stability and performance of GalaChain. This also signifies incentives for involvement.</p> 
<h3 id="gips">GIPs</h3> 
<p>Improvement proposals with different abbreviations, such as Ethereum ‘s EIP, are emerging for GalaChain. This step is vital for expanding GalaChain’s capabilities and fully implementing decentralization.</p> 
<h2 id="gala-and-decentralization">Gala and Decentralization</h2> 
<p>Networks are becoming decentralized to avoid legal issues and because they see the future in it. This opens the door to networks that can be governed by the community. Decentralized structures are crucial in <a href="https://en.coin-turk.com/massive-fund-inflows-from-institutional-investors-for-bitcoin/" data-wpel-link="internal">crypto</a> for self-sustainable growth and fair distribution of gains to the community.</p> 
<p>Time will show how successful this will be for GalaChain. However, if a fully decentralized structure can be built and network development continues steadily, it will support the GALA Coin price.</p> 
<p>The post <a href="https://en.coin-turk.com/galachain-develops-a-decentralized-network-to-boost-token-value/" data-wpel-link="internal">GalaChain Develops a Decentralized Network to Boost Token Value</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

GalaChain Develops a Decentralized Network to Boost Token Value

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