Gexan price is $0.01908122
The current price of Gexan (GEX) is $ 0.01908122. In the past 24 hours, the value of Gexan has increased, reflecting a change of +0.00%. It's important to keep in mind that cryptocurrency prices are highly volatile and can change rapidly within very short periods.
Gexan is a cryptocurrency that is built primarily for integrating blockchain technology with lottery systems. Gexan claims to offer more frequent draws and higher payouts compared with traditional lotteries, with the advent of blockchain technology enabling more transparent and fair results for participants.
As of my knowledge cutoff in early 2023, the specific individuals behind Gexan have not been publicly disclosed. Typically, cryptocurrencies are developed by teams consisting of developers, designers, and various specialists in the field of blockchain and finance. In the case of Gexan, it's likely that a team with experience in these areas worked on the project, as evidenced by its specialized application in the field of blockchain-based lotteries.
Gexan works by utilizing blockchain technology to run decentralized lottery games. The integration promises to remove intermediaries and provide a transparent process where the results are verifiable on the blockchain, thereby preventing fraud and manipulation. Gexan may utilize smart contracts to automate the lottery process, including ticket purchases, random number generation, and distribution of winnings.
While specifics about Gexan's blockchain network are not stated, in general, cryptocurrencies that facilitate lotteries prioritize randomness, security, and fairness. The core technology would likely include the use of cryptographic methods to ensure the random outcomes necessary for a lottery and smart contracts for automatic execution of the lottery rules and distribution of funds.
Most blockchain networks maintain security through various consensus mechanisms like Proof of Work (PoW) or Proof of Stake (PoS), among others. Since there's no specific information provided about Gexan, we cannot ascertain the exact mechanism used. However, it would typically involve cryptographic methods to secure transactions and ensure the integrity of the lottery draws.
As of now, there are 3.5M GEX coins in circulation. The total supply of Gexan coins is 21.0M. The circulating supply represents the number of coins that are publicly available and tradable in the market, while the total supply is the maximum amount of coins that will ever exist for the cryptocurrency.
Predominantly, Gexan is used to participate in blockchain-based lotteries. Holding GEX tokens could potentially give users the right to participate in these lotteries and possibly benefit from any winnings. Additionally, Gexan might offer staking or other incentives for holders of GEX tokens, although this would depend on the specific features and functions the Gexan team has implemented into their cryptocurrency.
Gexan (GEX) can be purchased on the cryptocurrency exchanges that list it for trade. The available exchanges for GEX are Livecoin, Graviex, CREX24. To buy GEX, one would typically need to create an account on one of these exchanges, complete the required KYC (Know Your Customer) processes, and then trade for GEX using fiat currency or another cryptocurrency based on the pairings available.
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