# The GoldX Blockchain

## Network Overview and Key Metrics

GoldX is the decentralized EVM-compatible public blockchain that powers the GoldX platform and ecosystem. It is fully compatible with Ethereum meaning that any smart contract that can be deployed on the latter can also run on top of GoldX.

The GoldX blockchain uses a variant of delegated Proof of Stake (dPoS) for achieving [consensus](https://docs.goldxchain.io/general/fuse-network-blockchain/fuse-consensus). The consensus is secured by a significant number of independent validators, only one of which is run by the GoldX core team.

Validators are also responsible for the most important type of governance on GoldX, namely, adopting the network protocol changes via [GoldX Improvement Proposals](https://docs.goldxchain.io/general/fips) (FIPs).

The native token of the network is called GOLDX. New GOLDX tokens are issued with every added block and are also use to pay for gas, just like ETH on Ethereum.

The GoldX blockchain is designed to ensure fast block confirmation times and a low cost of transactions. The average block interval on GoldX is around 5 seconds, and it currently costs much less than $0.01 to get a transaction confirmed.

In its present capacity, the GoldX blockchain is capable of processing around 120 native token transfers and 60 TL20 token transfers per second. The faster processing of native token transfers is due to the fact that they do not involve computations run on the network's virtual machine.
