GoChain (GO) Wallet

What is GoChain?

GoChain is a new standalone blockchain with a mainnet that went live back in May 2018. The code is forked from Ethereum, therefore it is 100% compatible with all the DApps and tools running on Ethereum itself. The GoChain team took Ethereum's code and made some major changes such as implementing a new blockchain consensus model: Proof of Reputation (PoR). This new consensus model cut out the need for power consumption and is able to handle a 1,300 transactions per second load capacity with near zero transaction fees while validating blocks nearly instantly.

How does it work?

The Proof of Reputation consensus model takes into account the reputation of all network participants. This ensures the network secure secure and free from any internal or external threats. In the GoChain blockchain all participants are required to have a reputation, and trying to cheat the system in either financial terms, or other methods, will have severe consequences. The nodes of the network are real-world companies, initially selected by the team until a fully-operative number of 50 Signer Nodes, begins staking their reputation on the network.

What GoChain aims to solve?

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 useful algorithm for blockchains, some could argue it has already served its purpose by starting the crypto revolution. GoChain aims to introduce a change toward something faster, more scalable, less centralized, and less energy intensive.

What are the features of GoChain?

• 1300 Transactions per second (TPS).
• Near zero transaction fees.
• Proof of Reputation consensus (PoR).
• The same fee structure as Ethereum.