Advertising revenue is extremely important to the Internet sector. Advertising generates the vast majority of revenue in the search and social media portions of the Internet industry. Google, Yahoo and Baidu all rely heavily on income from advertising with Google and Facebook earning more than half of all advertising revenue.
As the market keeps growing, the cost of computing is increasing as there are very few select companies providing these services; compute tasks & data are controlled and dependent on these centralized entities, creating a single point of failure while millions of machines have idle resources waiting to be utilized.
The usual cryptocurrency mining requires too much computing power and expensive data-processing centers, which consume enormous amounts of electricity. This model is also susceptible to a malicious threat called “cryptojacking” as evidenced by the recent 51% attack suffered by Verge, formerly known as DogecoinDark.
In 2018 51% attacks costed blockchains 28 million USD in losses. Blockchain startups are the major focus of 51% attacks which stops them from growing. These attacks need to be prevented beforehand.
Three layers build the backbone of the Gather Ecosystem:
Layer 0: Gather Online - The hardware layer, where processing power is collected from publishers.
Layer 1: Gather Network - The protocol layer, a hybrid proof of work and proof of stake blockchain, where stakeholders are incentivized to maintain transparency and security.
Layer 2: Gather Cloud - The application layer, where processing power is redistributed to enterprises at lower costs and to blockchain developers to secure their networks without sourcing miners.
Our Ecosystem is derived from processing power generated by the hardware layer and flowing securely back to the application layer, via the protocol layer.
The stakeholders are incentivized with Gather ($GTH) coin to generate revenue by providing processing power for the hardware layer and to maintain a healthy network for the application layer.
Gather adopts a new approach to in-browser mining with the introduction of a versatile native coin along with merged mining. The GTH coin works well with both browsers and apps, and has no UI issues, thus allowing new and existing coins to use Gather’s hashrate. Ultimately, this new model provides better profitability for web-miners, less centralization and a solution to a host of other issues commonly associated with new coins and low hash rates.
Gather’s payout system is developed to support payouts in Bitcoin, Gather coins or, where permissible, in local fiat currency.
Gather Network is the underlying protocol layer of the marketplace based platform where publishers meet with enterprises and developers, aiming to bring the usage of blockchain to the mainstream by bridging the gap between websites and normal users, promoting transparency, security and rewarding all participants.
Web Staking Wallet
As an addition to our loyalty program, Gather will introduce a web based staking wallet. The benefits are that any coins that are earned by visitors can then be automatically sent to a web based staking wallet, allowing both the user and publisher to earn interest on their stake with ease. This encourages people to take control of their finances rather than leaving their private keys in the hands of third party services. The more cryptocoins miners stake, the higher their power to validate transactions on the Gather blockchain will be.
Masternodes & Lite Nodes
Gather will use a web lite chain with a compressed web-lite blockchain node that is locally stored on the browser for very specific purposes only, leaving out much of the heavy data - thus making it feasible. The rest of the data will be on Masternodes which host the full blockchain - the web lite server syncs with the masternode - Masternodes are mandatory and web-lite chains will not work without them. This model promotes simplicity as it lowers barriers of entry by orders of magnitudes and will foster mass-adoption of cryptocurrencies. The main purpose is to establish consensus quickly to prove their accounts’ balances and send transactions into the network.
Merged Mining And Auxiliary Chains
Gather’s blockchain will support merged mining via auxiliary chains. The parent Gather chain is better suited for browsers and apps, allowing new and existing coins to use its hashrate. By doing this, at scale we would be able to provide better profitability for web-miners and more importantly stop centralization and a host of other issues commonly associated with new coins and low hash rate. The parent chain needs no additional work to participate in merged mining. And the only additions to its blockchain are the auxiliary chain hashes that are added to its transaction tree. Smaller blockchain projects can use merged mining to tap into the hashing power of Gather’s larger parent chain. Ideally, miners would have no issue in switching to merged mining because they receive increased rewards for the same amount of work.
Gather will introduce Smart Contract capabilities that will enable the unification of blockchains through Gather and private masternode networks.
Every auxiliary chain that forks/clones off Gather will inherit Gather’s built-in smart contracts functionality. The more auxiliary chains, the more interoperability there will be between different chains which are part of the Gather ecosystem.
Gather Block Details
The chain itself starts as an unlimited supply blockchain that then transitions into a limited supply blockchain based on the below trigger factors:
1) Sustained volume over time
2) Processing power sustained over time
3) Number of top end participants (Publishers & Applications)
4) Number of active forks of a predefined chain size
Coins mined in a day ~115,200
Coins mined in a year ~42,048,000
Once the initiation of trigger events only 1,314,000 new blocks will be made, which is approximately 60,000,000, coins which takes about 5 years to mine.
A unique solution offered by our platform to take advantage of the processing power gained from publishers and applications to the benefit of businesses by reducing the costs of processing data both on-premise and in the Cloud and to the benefit of crypto networks by allowing Proof of Work blockchains seamlessly integrate with Gather chain without the need to find a new community of miners.
Gather Cloud provides an alternate mechanism/source of processing power obtained at a significantly lower cost and higher flexibility in use, coming from Gather’s network of publishers. This will essentially lower operational costs incurred by enterprises from processing said data and allow Proof of Work blockchain developers to initiate their chains without the miners.
By integrating merged mining – the mining of two coins simultaneously from a similar algorithm – Gather Cloud offers additional benefits to miners, publishers will end up earning more coins as an addition to the coins they mine. New coins looking to launch could fork off Gather into XYZ-G, which effectively allows them to utilize the hashrate of Gather Network. Thus solving the issues of low hash rate.
Giving lesser-known cryptocurrencies the chance to have their coins merge mined with the Gather blockchain will help secure the newer and less popular blockchain. It’s about making things easier and more rewarding for miners by increasing their chances of gaining a reward for their work without much added cost.
Our vision for Gather is a new in-browser/in-app miner that provides more utility to both miners and website owners alongside enhanced security, user experience and functionality.
Gather will integrate a one stop shop for all related crypto issuance needs of companies. This will give enterprises the option to develop and launch their product/service on the GTH chain payable in USD. The chain launch, development, and mining (since the coin would be merge mined with GTH, and GTH would be mined by websites and applications) are all covered under the service. capabilities.
The Gather Foundation is the governing body of Gather Network. Part of the capital raised during the token sale will be allocated to the Gather Foundation.
The purpose of the Gather Foundation is to help grow our community initially through rewarding grants ( both in GTH and FIAT ) from the treasury to promising ecosystem builders.
The Foundation is an independent entity made up of 12 members. In order to remain integral to our ecosystem, only two members from Gather’s operating entity (Gather Enterprise) have a seat at the Foundation. The rest of the members comprise of third-party stakeholders.
Gather will use the ERC-20 standard for the token sale. Once the native Gather blockchain is ready we will transfer over to our own chain. ERC-20 GTH holders will go through a coin swap process at the ratio of 1:1.