Gelato Network BSC — a decentralized network, used by web3 developers to automate the execution of smart contracts on all major EVM compatible public blockchains, including Ethereum, Polygon, Fantom, Arbitrum, BNB Chain, Optimism and many more.
About Gelato Network BSC
The Gelato Network operates as a marketplace that brings together two parties: developers who want to automate transactions on the one hand, and infrastructure operators on the other, who run worker bots, looking for tasks to complete for a small fee.
Prior to Gelato, developers had to create custom bots (also called custodians), associated with each specific smart contract process they wanted to automate. Creating, running and maintaining bots for specific use cases to maintain these systems requires a significant amount of time and usually results in the development team becoming a central point of failure in their system. If their bot crashes, the whole app stops.
Gelato's vision - to address the lack of reliability, complexity and centralization around decentralized applications that want to offer automatic smart contract execution and gasless transactions internally across multiple blockchain networks in the web3 ecosystem. It has appeared to replace legacy centralized storage systems with an easy-to-use interface and robust infrastructure to support the next generation of DeFi, NFT and web3 gaming applications.
Main advantages:
| 1. | There is no need to self-host servers on AWS or other cloud providers. |
| 2. | Reliable transaction relay service that always processes transactions quickly. |
| 3. | There is no need to manage your private key in the cloud yourself. |
| 4. | Cheaper than creating, running and maintaining custom servers. |
All Gelato products work on the same underlying Gelato Network architecture, which is responsible for the correct and efficient execution of tasks. In essence, the Gelato network needs to check if the conditions for the execution of a task are met, and when they are met, make a transaction and ensure its confirmation as quickly and efficiently as possible.
GEL token
The Gelato DAO is powered by the Gelato (GEL) token. The Gelato Token is the focus of all relevant stakeholders on the network. The token exists as a utility for efficiently negotiating incentives between protocol participants. Token holders will be able to signal their support or disagreement with proposals in the Gelato DAO.