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RE: GoChain: Optimizing Decentralism of the blockchain ecoysystem using POR (Proof of Reputation)
hi @focygray
I've never heard about GoChain before and I found your review @focygray very easy to read and understand. You covered all topics related to this ICO very well.
The way you pointed out all problems and challenges and you commented each one of it .... AWESOME!
The only thing is that I have no idea what "Proof of Reputation" is. How does it work. Sometimes Im curious if "poof of something-new" is not just another marketing excercise? What do you think? Is it really huge advantage? Or could GoChain operate on PoW? Just curious.
Again: great review. Good luck with @originalworks contest. You deserve a solid prize for that review.
How many hours did you spent researching about it and writing it all down?
Yours
Piotr
Starting with the numbers of hours, It is usually 72 hours contest. All participants must gather necessary information for their write ups. I have done a previous contest on GoChain anchored by @originalworks so it was a bit easier to understand what the tech is all about. The only improvement is that of the introduction of the Mainnet and developing more on other algorithm use in carrying out contracts within the blockchain. It used to be the Testnet. The testnet is like a prototype of the Mainnet.
Concerning the Proof of Reputation, Just as my article has pointed out, Proof of work required more energy and it is somewhat easily corrupted as countries who can generate more power to mine Ethereum (the platform in which most blockchain industries operate on) might decide to operate their source of power just the way they like; making the decentralization target yearned for by the blockchain industry to be thwarted. But in the case of Proof of Reputation, High esteem companies will be used as validators of smart contracts on the blockchain. These companies are high reputable in both their market capital and their brands so they will find it difficult to compromise their integrity as they serve as signers to contracts on the blockchain ecosystem using GoChain tech.
That a very good answer :)
However check my comment above for a more extended one :)
Gave you a full upvote bc that :)
Thanks