What is GoChain?

GoChain’s move to Proof of Reputation consensus model takes account of the reputation of all network participants, to ensure a network that is fully secure and free from any internal or external problems. In the GoChain blockchain all participants ar...Moree required to have a reputation, and trying to cheat the system in either financial or branding terms will have severe consequences. GoChain Overview Image via GoChain.io In essence, GoChain has also improved on the Proof of Authority model by turning it to Proof of Reputation for most network participants. Proof of Authority can still be used, but only for nodes that have enjoyed an extremely high reputation, and add great value to the network. Plus the blockchain was created to be Ethereum compatible, meaning current Ethereum based chains can easily switch to GoChain. GoChain is looking to solve the centralization, scalability and energy consumption problems of blockchains that use Proof of Work as a consensus mechanism. While Proof of Work is a good algorithm for blockchains it has served its purpose by starting the revolution. Now is the time to make a change to something faster, more scalable, less centralized, and less energy intensive. Furthermore, it moves beyond Ethereum smart contracts to create something more stable and useful.Less