Is Giant Mammoth ($GMMT) Crypto Scam or Legit ??

 

 

The Giant Mammoth GMMT is a blockchain upgrade that aims to improve the architecture and security of existing smart contracts. Its vision is to provide developers and node operators with the ability to build and run custom blockchains for large users with internal value systems, which will increase flexibility and decentralization.

 

The Giant Mammoth Chain uses Parlia consensus, which is a combination of Proof-of-Stakes Authority (POSA) and Proof of Equity Authority (PoA). This consensus mechanism allows for faster and more efficient transactions, making it ideal for applications that require high speeds and low network gas costs. Additionally, the Giant Mammoth Chain is EVM compatible and offers risk mitigation measures.

 

The architecture of the Giant Mammoth Chain is designed to provide developers with easy access to useful products such as staking systems, block explorers, SDKs, RPCs, API gateways, interfaces for governance, and cross-chain bridges. This allows developers to build simple but functional blockchain projects that can be easily extended.

 

The Giant Mammoth Chain is run by a validator set consisting of 21 validators, who are elected by the delegates who hold the most GMMT staking. The validators are responsible for creating blocks and are rewarded with a fee for their efforts. The consensus mechanism used in the Giant Mammoth Chain is a BFT-like agreement, which ensures that only one validator has to generate a block and wait for a verification time.

 

The Giant Mammoth Chain has a unique feature of Lightweight client security, which ensures that the validator set change occurs in the (Epoch + N/2) block. This delay allows for validator set changes to occur while considering the security of the light client. This ensures that the light client does not get attacked as the incorrect Epoch block does not get another N/2 subsequent block signed by another validator.

 

The Giant Mammoth Chain also has a system transaction feature, which allows the consensus engine to invoke a system contract. This system transaction is signed by the verifier who creates the block. The system transaction is created and compared to system transactions in the block prior to application based on unique logic.

 

The Giant Mammoth Chain has a governance system that allows users to participate and contribute to the protocol stability and development through engagement and staking. This allows users to vote on system parameters such as broker compensation, staking compensation, number of validators, changes in the chain, and more.

 

Finally, the Giant Mammoth Chain has a reward distribution system that allows validators to execute transactions and receive compensation. Each transaction has a running cost, and 15/16 of this cost goes to the validator, while 1/16 goes to the system funds. This allows for the funds to be used for system needs, such as applying bridging costs. Additionally, some of the block rewards are also distributed among delegates.

 

In summary, the Giant Mammoth GMMT is a blockchain upgrade that aims to improve the architecture and security of existing smart contracts, while also providing developers with the ability to build and run custom blockchains for large users with internal value systems. Its unique consensus mechanism, architecture, and governance system make it an ideal platform for building blockchain projects, particularly those in the cryptocurrency space.