What is GoChain?

(Source:@go_chain)

GoChain is a blockchain mainnet designed for high throughput, providing a faster, cheaper, and more energy-efficient transaction experience than Ethereum. GoChain supports 1,300 transactions per second (TPS), far exceeding Ethereum's approximately 13 TPS, with an average transaction cost of less than $0.01, and confirmation times ranging from 3 to 5 seconds. It is suitable for business applications requiring real-time processing. More importantly, GoChain uses a consensus mechanism called Proof of Reputation (PoR), which does not rely on traditional proof of stake or proof of work, but instead delegates block generation power to globally reputable entities, such as publicly listed companies, non-profit organizations, and universities. This ensures network security and stability while significantly reducing energy consumption.

Key Features of GoChain

1. Ultra Performance
   GoChain can process over 1,300 transactions per second and reduce transaction confirmation time to 3 - 5 seconds, much faster than other mainstream chains.

2. Green Energy Saving
   Compared to the high energy consumption mining mechanism of Ethereum and Bitcoin, GoChain's PoR consensus does not require a large amount of electricity to maintain network security, making it a truly green blockchain.

3. Low cost
   The average transaction fee is less than 1 cent, suitable for large-scale applications and frequent trading scenarios.

4. 100% compatible with Ethereum
   GoChain is fully compatible with Ethereum, allowing developers to seamlessly deploy existing smart contracts and tools, such as Truffle, OpenZeppelin, MyEtherWallet, etc.

5. Reputation Consensus PoR
   Unlike traditional Proof of Work (PoW) or Proof of Stake (PoS), GoChain establishes consensus by verifying the reputation of participants, where nodes with a strong corporate or institutional background are eligible to participate in block generation, effectively eliminating malicious behavior.

GoChain's practical features and innovative applications

• GoChain Explorer: In addition to providing block query functionality, GoChain Explorer also allows users to customize data views to present on-chain data in a more intuitive and understandable way.
• Credit card subscription payment: GoChain supports a unique feature: credit card subscription plan. This means that businesses and users can automatically pay blockchain service fees regularly, achieving the convenience experience of Web2 level.
• Interoperability and Cross-chain Exchange: With the Chainswap technology of GoChain, users can quickly transfer assets between Ethereum and GoChain, benefiting from both efficiency and cost advantages, and switch back to the original chain at any time.

GoChain's token economics

According to the content of the GoChain whitepaper, the total token supply is 1 billion GO, and its issuance and distribution are designed to support the project's technical development, ecological construction, community participation, and long-term sustainable development. The following are the specific allocations for each distribution project:

• Core Team - 10%
  Allocated to founding members and core developers as a reward for their establishment and ongoing participation in the project. This portion has an unlocking mechanism: 25% released every 6 months, with a total release period of two years.

• Advisors - 6%
  The tokens allocated to the consultant group participating in strategy planning and technical guidance will undergo a 6-month lock-up period to ensure long-term cooperation commitment.

• Foundation & Bounties - 10%
  To support community activities, development contribution rewards, promotion and cooperation incentives, and promote the healthy growth of the project.

• Marketing & Legal - 4%
  As a budget for brand promotion, community expansion, and legal and compliant operation, it ensures the long-term stable development of the project.

• GoChain Fund - 10%
  As a venture capital fund, support other projects and startups within the ecosystem to enhance the overall network effect.

• Reserve - 10%
  Reserved as reserve resources for future strategic development, this portion has a lock-up period of 1 year.

• Token Sale - 50%
  Released to investors participating in public and private placements to raise funds for early project development and operations.

Sales targets and supply

• Total Token Supply: 1,000,000,000 GO
• Hard Cap for fundraising: 26,500 ETH
• Minimum fundraising threshold (Soft Cap): 2,500 ETH

This distribution structure takes into account the initial capital needs, long-term development flexibility, and positive incentives for contributors and investors. Through the lock-up mechanism, it also effectively avoids early participants from selling too quickly and causing market impact.

(Source: GaChain Whitepaper)

Start trading GO spot now:https://www.gate.com/trade/GO_USDT

Summary

In the current blockchain new era focusing on efficiency, scalability, and sustainability, GoChain provides a noteworthy solution. Whether it is for enterprises looking to build high-frequency applications, developers seeking a low-fee and efficient mainnet, or investors valuing the reputation protection behind the PoR mechanism, GoChain has unique advantages. With more well-known organizations becoming its consensus nodes and the gradual enrichment of on-chain applications, GoChain will occupy a place in the global blockchain market.