How Gather is Revolutionizing the Internet?
Gather first started in 2017 with the goal of providing a new method of monetization for website and app owners. The idea was to create a system that was different from traditional advertising methods. The company instead worked toward monetizing in-browser web traffic as well as in-app usage through the blockchain system. But more specifically, through their proprietary blockchain system. They also offer different incentives for everyone involved from the actual owners to the different blockchain projects and more. And all of this is done through the process of identifying problems and looking to solve them.
The Problem to Be Solved
Advertising provides a great deal of revenue for those who have their products advertised and those who are involved in the process of creating that advertising. For search and social media this is where most of the money comes from, with all of the major companies like Baidu, Google, Yahoo and Facebook receiving a large cut of revenue from this area.
But there are a lot of changes happening in the advertising space. Where print media was once the way to go this has started to give way to online media. Advertising online, however, presents its own challenges because there is a very delicate balance between what is acceptable to users and what isn’t. Too many ads can increase the bounce rate and decrease user experience, which actually negatively impacts the brands involved. But not enough ads means that there’s not enough users that are potentially seeing what’s out there.
Supporting in-Browser Mining To Reduce Ads
In-browser miners are increasingly seen as a potential supplement or alternative to digital ads, which are notorious for being disruptive and insecure. To date, several in-browser/in-app miners have been deployed to use the visitors’ extensive computing power to create new coins in exchange for an ad-free browsing experience.
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.
The core revenue model proposed to websites is to earn simple commissions from the pool fees, and computational power of their visitors. Website and application owners can integrate the Gather code with their respective platform(s) to earn additional revenue via their users’ CPU and GPU computational power to mine cryptocurrencies.
Once the Gather code is installed on a site by integrating a code or in an app via SDK, website visitors and application users can elect to provide their processing power to Gather Online. Gather’s payout system is developed to support payouts in Bitcoin, Gather coins or, where permissible, in local fiat currency.
Another major aspect to consider is cloud computing.
How it Works
There are three layers at work within the system. The first is called Layer 0. Layer one is the Gather Online layer, which is all about the hardware. This is where all of the processing capabilities are collected from the publishers to be used throughout the remainder of the process. It’s an important foundation for the rest of the process.
Later 1 is the Gather Network layer. This is the one where all of the protocol is. It’s the proof of work and proof of stake blockchains. This is where stakeholders are encouraged to make sure there is plenty of security and plenty of transparency at the same time. This is where things are really established.
Finally, Layer 2 is the Gather Cloud. It’s where processing is redistributed. It’s where enterprises are able to use that processing power and get it at lower costs than they would otherwise. Not to mention developers of the blockchain are able to add additional security but they don’t have to use miners to do it.
What You Get
At each layer in the process, there are specific benefits or offerings. This started with Layer 0, which offers a loyalty program to allow publishers to add revenue sharing with their users. They get to set the amount of the revenue share and users get rewarded for opting in. That’s definitely going to make them more likely to participate.
At Layer 1 there are several aspects to consider. These include masternodes and lite nodes. These use a web lite chain to store specific information on the blockchain, rather than storing a great deal of heavy data. This makes it easier to achieve. There will be additional data on Masternodes, which store the more intense information and data required. All of this makes for faster consensus and transactions.
Also, there’s a web or mobile-based staking wallet. This allows publishers to earn coins and send them automatically to this wallet. Through this process, there’s the ability to earn additional interest on the stake that the owner has. Even web surfers will be able to gain interest on their stake as well.
Finally, smart contracts are introduced in this layer. This allows for the unification of blockchains but it doesn’t all have to be done through Gather. It can also be done through private masternode networks. But what’s important is that any auxiliary chain that is part of Gather will automatically get the in-built smart contracts. If there are more auxiliary chains then there’s more interoperability.
This is where we get to Layer 2. In this layer you’re getting the proof of concept and the benefit of using all of the processing power at a lower cost. It allows for proof of work blockchains to work within the platform. And the cloud allows for yet another option for the same. And all without the necessity of miners at all, which improves the results for publishers and other partners.
This process is ideal for enterprises that will receive compute power as a service. It’s great for blockchain developers, allowing lower level or less well-known cryptocurrencies to merge within the blockchain for added security. It also merges coins and offers additional revenue for publishers that are involved.
Entering the Scene
Anyone who knows anything about the tech space and definitely the cryptocurrency space knows that it either takes a long time to make it big or it happens in no time at all. Despite the bear market phase Gather acted fast and smart and completed the MVP prototype phase in just one year. The end result was a good exchange and some very strong partnerships. This is going to mean a lot of great things for the company in the future as well since they’re already starting out strong.
Today Gather has already onboarded 200+ publishers, including multiple notable partners from different industries to its early adopters program. The partners that they’ve taken on are there to help improve the reception of the company and to provide them with added features and capabilities right from the outset.
Some of the partners that the company has welcomed include Ferrum Network, Godrej Industries Limited,Moonrock Capital, Decentr, Luxcore, ASAP Industry, Hashr8, Metalyfe, Cryptolocally, Chromia and Dia. They’ve also taken on an ambassador in Crypto Krillen.
Private Sale Raise
In order to get started within the field, Gather Network Project first needed to execute a successful raise and they were actually more than successful. They were aided in this process by several venture capital firms that included Bitscale Capital, TRG Capital, Master Ventures and LD Capital. Throughout the course of the sale the platform was actually far more successful than expected, ending oversubscribed by over 25x. Even better they were able to raise $960,000.
After this private sale and the amount of demand that was made, the company has actually decided to cancel their public sale and instead transition to the centralized exchange. Tokens that were originally being held specifically for the public sale were used during the private sale to make sure that they were able to meet the demand as closely as possible. This is not all good news, however, as canceling the public sale means that the company has potentially lost out on $62,500 and that they have now lowered their initial market capitalization.
When it’s Coming
Gather currently has completed its Beta as well as its private sale. They’ve canceled their public sale and are focusing on getting things up and running, but it’s still going to be a little while before it’s complete. They expect to be live with their mainnet and fully functional with their features in the first quarter of 2021.
GTH coin is currently listed on Bithumb Global and Uniswap.
If you want to stay up-to-date with Gather Network, then you can follow them on Twitter, Facebook, LinkedIn, Telegram, Medium, Reddit or have a look at their Bitcointalk ANN thread or their Website.
Source:
The Capital.
