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Whether it’s liquidity protocols, NFT platforms, token launchpads or stablecoin issuers, multi-chain crypto projects are becoming more and more common. Although tens of thousands of applications continue to be built atop a single blockchain (usually Ethereum), chain-specific ventures increasingly appear out of step with the needs of end users who crave interoperability with other networks.
Last month, data monetization platform Gather became the latest crypto project to spread its wings and embrace a multi-chain model. Having previously launched its $GTH token as an ERC-20 asset on the Ethereum network, the token unexpectedly debuted on Binance Smart Chain’s popular Pancake Swap DEX, with users able to take advantage of BSC’s famously low transaction fees. Reassuringly, smart contracts for both ERC-20 and BEP-20 tokens have already passed an independent audit. Gather’s very own hybrid Proof-of-Stake/Proof-of-Work blockchain is also set to go live later this quarter.
Pursuing a multi-chain future was a no-brainer for Gather, which after all aims to solve a universal challenge: how to give users de-facto control of their data?
Gather Aims to Become Go-to Web3 Solution
With its emphasis on decentralisation and token-based economics, the latest iteration of the internet (Web3) has no use for gatekeepers, those unscrupulous walled gardens that for years have played fast and loose with user privacy. Instead, the decentralised “internet of the future” must pioneer new revenue models for all of the web’s players while maximising data protection.
It’s widely acknowledged that the existing power brokers (Google, Amazon, et al) don’t share the ethos of crypto’s cypherpunks and libertarians. Gather, though, is different: built around a hybrid proof of work/proof of stake blockchain, the platform – which comprises Gather Online, Gather Enterprise and Gather Cloud – was created to liberate the internet from its persistent pain points: everything from ad trackers and pop-ups to creeping censorship and data fraud.
Gather’s ecosystem facilitates the sort of peer-to-peer data exchange that is music to the ears of Web3 maximalists. Ostensibly, the venture enables publishers to monetise without resorting to spamming the internet with a constant stream of ads. It matters little that such ads have become more relevant over the years, with algorithms tailoring content based on our digital footprint; the simple fact is, they hamper our user experience massively.
Moreover, Gather lets businesses and developers tap into cheap processing power, which is knowingly provided by website visitors and application users via an opt-in. In this ambitious multi-chain model, visitors earn rewards (paid out, for the moment, in $GTH – but with support for other assets, including fiat, in the pipeline) for the time they spend on a website or application, rather than the number of ads they endure.
By delivering robust consumer privacy, committing to collecting no data, and laying the foundations for fair and transparent virtual economies, Gather intends to make good on Web3’s much-discussed potential.
Blockchains, Not Bridges
Over the past year, several cross-chain bridges have come to the fore and enabled users to port tokens and data from one network to another. But while these bridges have been a worthwhile workaround for those looking to bounce between blockchain ecosystems, their centralised nature is at odds with the entire concept of Web3.
Yes, trustless bridges do exist – but such solutions support select cryptocurrencies and chains and fall short of true interoperability. Perhaps that’s why Gather has extended beyond Ethereum by launching its token on BSC. The move followed an integration with Connext, an interoperability system that specialises in connecting EVM-compatible chains and L2s. Of course, Gather’s immediate priority is the launch of its native chain, which will neatly align incentives between all network participants.
The ethical narrative behind Web3 is highly compelling, but unlike many projects, Gather acknowledges that participants are still guided by profit. Through community governance and a content monetization model that works for all, this is a multi-chain venture that might just make the internet great again.
This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.
