Gochain - A Refined Blockchain

kilatunzii (55)in #crypto • 7 years ago

What is GoChain

GoChain, as the name implies “chain”, it is a blockchain network aimed to solving the scalability issues affecting other blockchain networks. Many blockchain companies are built on Ethereum but GoChain is built upon improved codebase of Ethereum also having a smart contract platform.
GoChain implements an algorithm called Proof of Reputation.

What is Proof of Reputation?

This is the main element of GoChain, it is a consensus model that depends on the reputation of its participants in keeping the network secure. For a participant, they must have a reputation that is high enough to face great consequences if they were to cheat the system be it financial or branding. For a business to face serious consequences that would not only crumble them but also the officials would not play with their reputation. Larger companies with more reputation and more to lose obviously would be chosen over smaller company with less to lose.
For a company’s entry, after proving its reputation it is voted into the network (GoChain) as an authoritative node and at this point, it operates just like a Proof of Authority network (PoA).

My Design

I chose to make this design, to depict a blockchain technology, with the hexagons representing different blocks on the blockchain. As GoChain would be bringing a lot of benefits to businesses I also highlighted the basic benefits GoChain would offer that is; 10x more decentralization, 100x improved speed and 1000× less energy (power consumption).
This design can be implemented in publication of GoChain as it is well detailed for any business go get the message at a glimpse.