Frequently Asked Questions
Vision
About Gurufin project
We are building an ecosystem that bridges Web2 and Web3 payment systems, where stablecoins are 1:1 backed by fiat money and executed on the blockchain as native coins 95which allows to minimize the transaction cost and speed. Additionally, the GURU Station enables real-time currency exchange, paving the way for mass adoption of the Gurufin project. Digigooz on the other hand, offers all-in-one NFT marketplace where users can buy & sell both physical and digital products using Web2 and Web3 payment systems.
Who runs the GURU Chain?
The network is maintained by up to 100 validator nodes (in Phase I), who confirm transactions and keep everything running. These validators are chosen based on staking, and users can support them by delegating their GURU tokens.
What is Guru station?
Guru station stands for the backbone of the ecosystem that allows swapping between GURUX coins, exchanging the NFT between GURUX chains and maintaining the governance over the whole ecosystem.
What is the GURU Chain?
The Guru Chain is the core blockchain of the Gurufin Network. It manages key operations like voting, decision-making, and fast, secure transactions—basically the “governance engine” behind everything else in the ecosystem.
How to swap coins using Guru station?
Swap is performed using the liquidity on the Guru chain. The coins from one GURUX chain will be swapped to the other chain using the IBC protocol.
What advantages the g-swap has compared to other solutions?
The ordinary swap operation takes three transactions from one chain to the other. Using g-swap, the exchange can be performed using a single transaction which simplifies the operation significantly.
What is the transaction cost?
All GURU and GURUX chains use the fixed gas price which is at 0.00000063$ equivalent in each currency. According the rate changes, the gas price is reset regularly for all chains. Additionally, we have reduced the gas used by 5 times compared to other Cosmos-SDK based chains where the simple send transaction can be executed with 30000 gas at maximum. Which sums up the cost for each transaction at 0.0189$ equivalent maximum.
Concepts
What is the difference between "secp256k1" and "ed25519"?
secp256k1 and ed25519 are both popular cryptographic algorithms used for digital signatures and key generation, but they have some differences in terms of security, performance, and compatibility with different systems.
secp256k1 is an elliptic curve algorithm that is widely used in Bitcoin and many other cryptocurrencies. It provides 128-bit security, which is considered sufficient for most practical purposes. secp256k1 is relatively fast and efficient, making it a good choice for applications that require high performance. It is widely supported by most cryptographic libraries and software, which makes it a good choice for cross-platform applications.
ed25519 is a newer elliptic curve algorithm that provides 128-bit security, similar to secp256k1. However, ed25519 is generally considered to be more secure than secp256k1, due to its resistance to certain types of attacks such as side-channel attacks. It is also faster than many other elliptic curve algorithms, including secp256k1, making it a good choice for applications that require high performance.
In terms of compatibility, secp256k1 is more widely supported by existing systems, while ed25519 is less widely supported. However, ed25519 is gaining popularity, and is supported by many cryptographic libraries and software.
When choosing between secp256k1 and ed25519, you should consider your specific needs in terms of security, performance, and compatibility. If you are building an application that requires high performance and compatibility with existing systems, secp256k1 may be a better choice. However, if you are building an application that requires a higher level of security and performance, and you can afford to sacrifice some compatibility, ed25519 may be a better choice.
How liquidity is provided using station?
The station maintains the liquidity for all available stablecoins on Guru chain. The process involves, transferring coins from source chin to Guru, swap with currency rate, and Guru to destination chain. In case of limitations, the transaction is prevented before execution to maintain the stability in the ecosystem.
Can third-party blockchains integrate with Guru Station?
Yes. All chains on the Guru ecosystem are based on Cosmos-SDK which supports inter-blockchain communication and interchain accounts through IBC protocol
What are benefits of Guru station compared to other inter-blockchain messaging methods such as Uniswap?
Guru station provides relaying between all GURUX chains at once which makes it the most complete solution for inter-blockchain messaging. Also, the station supports a single-transaction execution of transfers between GURUX chains.
What is the GXN coin used for?
GXN is the native coin of the GURU Chain. It’s used for voting, paying transaction fees, and staking—meaning you can help keep the network secure and earn rewards at the same time.
What’s the benefit of participating as a user or validator?
You earn rewards! By staking your GXN tokens or running a validator node, you can earn GXN through network incentives. Plus, you’re helping shape the future of the Gurufin ecosystem.
How to use the Huru station for coin swap?
The swap is triggered through MsgExchange packet from IBC OnRecvPacket. The source chain should submit the transaction through IBC relayer and the destination chan and address hsould be set correct as defined in the x/bex module of Guru chain.