Gala (GALA) - Coin of the Week
Gala (GALA) is a cryptocurrency based on Ethereum (ETH) and is used by the blockchain gaming platform called Gala Games. It is a platform that aims to revolutionize the gaming industry, offering players more control through blockchain technology. The GALA cryptocurrency is used for in-game purchases on the Gala platform and to govern the Gala blockchain network, which runs through Ethereum smart contracts.
History of Gala
The Gala Games project was founded in 2018 by Eric Schiermeyer (co-founder of the game company Zynga), Wright Thurston (experienced crypto miner) and Michael McCarthy (creative director of numerous games, including Farmville). Through the Gala Games initiative, the co-founders target a community of users who want to implement blockchain technology in the space of video games.
Gala Games is a platform that develops blockchain-based games, each of which gives players real ownership of in-game items through the use of NFT technology. The main idea behind the Gala Games project is to give players more control over the virtual experience.
How does Gala work?
Gala Games wants users to have a say in the development of its games. This is done through users running Gala Nodes, which support the network in exchange for the native cryptocurrency, GALA, and NFT assets.
The node system consists of three different consensus protocols that support the Gala network:
The proof-of-work protocol - the hardware systems that run this protocol are called Founder Nodes, because they represent the first layer of support in the case of the network;
The proof-of-stake protocol - used for nodes that operate specific games, through smart contracts;
The proof-of-storage protocol - used for the nodes that allow the hosting of games through the node system; this eliminates dependence on centralized storage solutions.
GALA use cases
Gaming
Governance
Staking
For more information about the GALA, go to the Gala Price (GALA) page.
GALA advantages
Utility in gaming
Fast transactions and low costs
NFT integrations
For more information about the GALA, go to the Gala Price (GALA) page.
GALA Financial Indicators
Market Cap: 266 million EURO
Price: 0.03 EURO
Transactional volume (24h): 254 million EURO
GALA community
https://twitter.com/GoGalaGames
Latest GALA news
According to the project developers, a new version of the GALA token will be sent to holders in the Gala ecosystem on May 15. The new tokens are part of a larger upgrade to smart contracts on the Ethereum blockchain. The upgrade is designed to make the Gala network more secure, which may lead to a new appreciation of the GALA cryptocurrency.
How to buy GALA
On Tradesilvania, you can buy and sell the GALA cryptocurrency or other types of cryptocurrencies, such as Ethereum (ETH) and Solana (SOL). Create your account and buy GALA cryptocurrency on our crypto investment platform.