$GFAL Technical Features
Underlying Technology
Our token follows the BEP-20 standard and operates on the BNB Smart Chain (BSC), part of the BNB Chain ecosystem. The BEP-20 standard is an extension of Ethereum's ERC-20 standard, designed to offer the same functionalities and ensure interoperability within the BNB Chain ecosystem.
Why BEP-20 and not ERC-20?
Compatibility: Although our token is based on ERC-20 specifications, by operating on BNB Smart Chain, it follows the BEP-20 standard. This ensures compatibility with BNB Chain's infrastructure and tools, while maintaining easy transition and understanding for those familiar with ERC-20.
Efficiency: BNB Smart Chain offers lower transaction fees and faster confirmation times compared to Ethereum, making it a more efficient choice for our users.
Benefits of the BEP-20 Standard
Interoperability: Similarity to ERC-20 allows for easy integration with applications and services that support ERC-20.
Efficiency: Lower transaction costs and faster speeds on the BNB Smart Chain.
Extensive Support: Broad support from wallets, exchanges, and development tools within the BNB Chain ecosystem.
Smart Contract
The smart contract has been developed with Solidity programming language and deployed on the BNB Chain.
BSCScan official address: https://bscscan.com/token/0x47c454ca6be2f6def6f32b638c80f91c9c3c5949
Technology Audit
Find below the technology auditing of the $GFAL token carried out by Hacken:
Environmental Impact of the Consensus Mechanism
The $GFAL token is based on the BNB Chain, which employs Proof of Staked Authority (PoSA) as its consensus mechanism. This has a significantly lower environmental impact compared to mechanisms such as Proof of Work (PoW). By combining features of Proof of Stake (PoS) and Proof of Authority (PoA), PoSA eliminates the need for energy-intensive mining, drastically reducing electricity consumption and carbon emissions.
This results in a more efficient and sustainable operation, with lower operating costs and a smaller carbon footprint, while also facilitating the use of renewable energy sources and improving the accessibility and scalability of the blockchain network
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