Purpose
This article explains what GalaChain is and its benefits within the Gala Games and Entertainment Ecosystem.
Assumptions Made
This article assumes the reader understands the information in the following articles:
Sign Up for a Gala Games and Entertainment Account
Different Blockchains in Gala Inventory
Summary
GalaChain is a Layer 1 blockchain developed by Gala Games and Entertainment that allows people to perform transactions nearly instantaneously. This blockchain serves as a fundamental component of the ecosystem, allowing the various components of Gala, such as games, music, and film, to function without waiting for slow and often expensive transactions to be completed on other blockchains. As a Layer 1 blockchain, it allows other tokens to be built on top of it without impeding the transactions of other tokens on the network. GalaChain is run through the network of Founder's Nodes. These Founder's Nodes help to process transactions and keep GalaChain running properly. $GALA serves as the central token for GalaChain and it's utility ranges from use as gas fees to rewards. Users can read this article to learn more about What is "Gas" and How Does it Work.
GalaChain can currently be accessed only through a Gala Games and Entertainment account on various websites across the ecosystem. However, as developers continue to build on GalaChain, there will be an ever-expanding list of applications and websites that will incorporate its use. An example of this would be a wallet application that allows users to access their GalaChain wallet outside of the current websites. Users can read this article to learn how to find their account's GalaChain address here:
Find an Account's GalaChain Wallet Address
When you earn rewards from running a node or other various reward mechanisms, they are granted as a GalaChain Allowance. This GalaChain Allowance allows people to convert these rewards into on-chain tokens inside of their wallets whenever they see fit. Read these articles to learn more!
GalaChain also allows users to bridge from itself to Ethereum. Users can read more about this by reading the articles below:
Bridge GalaChain Token from GalaChain to ETH