The evergrowing economy of GamerHash is fueled by its DLT asset – GamerCoin (GHX) – currently an ERC-20 and BEP-20 token built originally solely on the Ethereum blockchain and later on also bridged to Binance Smart Chain. The token was emitted on the beautiful, sunny island of Malta and is the first globally listed token with a crypto license (VFA) from the local regulator — MFSA.
It serves as a basis for all transactions within the ecosystem and that’s why it has multiple uses:
- Allowing people to make purchases in the GamerHash Store
- Ensuring access to dedicated competitions/events for its holders
- Being used as a reward within the platform.
ERC-20 that Gamercoin is bridged on defines six different functions for the benefit of other tokens within the Ethereum system. These are generally basic functionality issues, including the method in which tokens are transferred and how users can access data regarding a particular token.
Ethereum’s set of functions and signals ensures that tokens of different types will all uniformly perform in any place within the Ethereum system. That’s why, nearly all of the digital wallets which support the ether currency also support ERC-20-compliant tokens.
BEP-20 on Binance Smart Chain extends the reach of potential token users as well as provides a more flexible and versatile availability of the token, for example - developing new functionalities to increase GHX's utility.