- Summary:
- GTON is on a mission to onboard the masses to blockchain technology and remove barriers for developers. Find out how.
Despite the success of blockchain as an overall technology and as a decentralized financial system, one of the social problems that it faces is an inability to onboard users. While there are many crypto-natives, so to speak, that move within these spaces with ease, they only represent a very small proportion of the population.
In a global study, HSBC found that 59% of all consumers hadn’t even heard of blockchain technology, let alone actively using it. This figure has remained stable several years later, with a 2022 study by Finbold seeing 60% of individuals not knowing what cryptocurrency is.
For those of us that exist within these spaces, we might see cryptocurrency and blockchain wherever we turn. But that is not the case for people outside this ecosystem. For the vast majority of people, the idea of onboarding into a decentralized system is something that never even crosses their minds.
This difficulty of onboarding users is something that GTON has set out to remedy. By providing a comprehensive DeFi ecosystem that builds off the fundamentals of blockchain technology. Creating a system that benefits both users with little knowledge and advanced developers, GTON allows absolutely everyone to make the most of their system.
In this article, we’ll dive into how GTON is onboarding users into the world of crypto, as well as paving the way for developers to create a better Web 3 system for all.
Let’s get right into it.
Onboarding Users with GTON
GTON makes it as easy as possible to onboard new users into the world of cryptocurrency. When signing up to their platform, you’re able to select from three tiers: beginner user, GTON holder, or advanced user. Based on your preference, GTON’s platform will walk you through the process to a different extent.
For beginner users that are just dipping their toes into this new ecosystem, the additional support they offer makes the process as easy as possible. For the beginner pathway, GTON outlines how to do everything, right from initially creating a wallet all the way to bridging from the Ethereum network to the GTON network.
There are four steps to their user onboarding, each of which can be completed in only a few minutes at max:
- Download a Wallet – As GTON is an Ethereum rollup, it’s able to access all of the Web 3 infrastructure that’s currently listed under Ethereum. With this in mind, users are able to connect to some of the best wallets available, making accounts on services like MetaMask.
- Add GTON Network – As GTON is an EVM chain, it is 100% compatible with MetaMask, allowing users to simply manually add the information to their wallet.
- Obtain $GTON – From there, users can purchase $GTON and swap it for GCD, the stablecoin innovation that’s at the centre of GTON’s network.
- Bridge – With a quantity of GCD, users can then bridge to the GTON network, hosting themselves within the Ethereum rollup.
Each step of this process has a detailed guide, which helps any user – despite their previous experience with blockchain – onboard themselves into this ecosystem. With distinct tutorials for different knowledge levels, GTON ensures that all users are able to access their system with ease.
With their core vision relating to empowering millions of people with the power of decentralized finance, this easy onboarding process is a core step toward realizing that dream.
Why Do Users Choose GTON?
As the world of blockchain and cryptocurrency has continued to expand over the last decade, we’re now spoiled for choice when it comes to which system we want to use. Even those that are just getting to learn about cryptocurrency now have a range of different options. One needs to only cast their eye across the top 100 coins on CoinMarketCap to see just how expansive this system has become.
For many people, their introduction to this system will come in the form of Ethereum. While Bitcoin is the most popular cryptocurrency, with a market cap of nearly $400 billion, its higher price puts many initial investors off. Instead, they’ll start their journey into cryptocurrency with Ethereum.
When other Web 3 systems propose a new currency, they expect crypto investors to cash in their cryptos into the new native currency. For many, this means exchanging their Ethereum for the native token on whichever platform they have. This is an overwhelming step and one that puts off many people from trying out new networks.
To facilitate the easy onboarding of users onto GTON, they’ve created a workaround for this exact problem. Users on GTON are able to bridge from Ethereum into the GTON network, using their Ethereum as collateral to issue GCD stablecoins.
As the GCD is a native stablecoin within the GTON network, it can then instantly be used on DApps or new platforms that the investor wants to experience. Without having to sell any of the base Ethereum currency, this user is able to fully participate in the GTON ecosystem.
If they want to close their position, they simply need to return the same amount of GTON as they’ve minted. If their Ethereum has gone up in value during this time, they’ll have a surplus, having actually made a profit while engaging in the GTON protocol.
With this flexible system in mind, GTON has put the user experience first. This seamless ability to use larger cryptos like ETH or BTC as collateral against their native GCD allows people to onboard without having to know everything there is to know about blockchain itself.
A slower and more stable experience like that which GTON offers customers is a fantastic way to bring more users on-chain.
Onboarding Developers with GTON
When creating a new decentralized application, one of the biggest prohibiting factors for developers is the network they use. For example, while a developer may choose Bitcoin’s blockchain due to its high levels of security, the lack of flexibility makes it a hard case to develop on.
Equally, while Ethereum has fantastic developer toolkits and spaces that make creating new DApps easy, its low TPS (transactions per second) makes it frustrating. If projects gain enough traction and transactions start to build up, the increase in gas fees leads to many users not wanting to continue with the platform.
With circumstances like these, it’s not difficult to see exactly why developers are still shying away from entering the blockchain space. GTON aims to fix this problem, providing an Ethereum rollup that gives developers the best of blockchain without having to worry about gas fees or transaction speeds.
GTON is bridged to Ethereum, meaning any developers that want to build on this network have full access to all tools, platforms, and systems that Ethereum offers. However, instead of having to run their DApp using Ethereum as a central currency, they’re able to use the GTON stablecoin.
The GTON stablecoin, GCD, is pegged closely to the USD, using smart contracts to keep the figure stable. With this design, users are able to access a stable system with predictable gas fees, providing an environment where developers can build without fear of their projects suffering the stranglehold of Ethereum’s fees.
Using the very best that Ethereum has to offer and pushing it even further with their own stablecoin, GTON has crafted a successful environment for developers to use.
Final Thoughts
Creating a powerful pathway that benefits new users and seasoned blockchain developers, GTON is a very promising new network within this ecosystem. Building upon what makes Ethereum such a fantastic system, yet giving it the power to scale without high gas fees, GTON solves all problems for developers.
Beyond this, the ability for new users to rapidly create wallets and join the GTON network allows absolutely anyone to start using cryptocurrency. Benefitting all ends of the crypto-knowledge spectrum, GTON is an innovative project that’s making waves in Web 3.
As this project continues to provide support to new users and DApps, we’re likely to see even more intrigue into how it works. This is definitely a project to watch.