GoChain (GO) Overview
In the GoChain blockchain, all participants are required to have a reputation. Therefore, trying to cheat the system in either financial or branding terms will have severe consequences. In essence, the GoChain (GO) altcoin has also improved on the Proof-of-Authority model by turning it to Proof-of-Reputation for most network participants. Additionally, the blockchain was created to be Ethereum-compatible, meaning that the current ETH-based chains can easily switch to GoChain. With all of this, GoChain is looking to solve the centralization, scalability and energy consumption problems of blockchains which use Proof-of-Work as a consensus mechanism.
Incentives And Rewards
Even though there are no mining fees on the GoChain network, authorized nodes will receive a reward of 1 GO token for each block that they sign. This rate has been put to effect and will remain such until 5% of the total tokens have been distributed. After this, the reward will decrease steadily over time until all of the 50,000,000 tokens have been distributed. There are currently some plans to make a total of 1,000,000,000 tokens and the current circulating supply of GoChain (GO) is 498,943,652. The remaining tokens will be distributed as signing rewards, with 5% of them being distributed within the first year of mainnet operation.
GoChain (GO) has went through a couple of different phases in its roadmap and had a couple of interesting partnerships. GO has seen extensive optimism regarding its project. We can see that GO has been able to scale to 100 times the number of transactions that ETH is capable of handling. The current price of GO on the market is $0.006514.