|Latest Price||$0.0584 USD|
|Current Market Cap||$36.66MM|
|30 Day Avg Market Cap||$33.57MM|
|30 Day Avg Volume||$6.74MM|
|Circulating Supply||627,603,035 GO|
|Total Supply||1,020,965,644 GO|
|All Time High Price||$0.1165 USD (9 Jul 2018)|
|No. of Mainnet Txns||211,451|
GoChain (the "Project") is a decentralized blockchain network that uses Proof of Reputation as a consensus model to support smart contracts and distributed applications. The Project aims to be the following:
GoChain's primary mission is to be "10x more decentralized, 100x faster and 1,000x greener (less energy used to run the network) than Ethereum." The Project would also like to remain Ethereum compatible so that users can use GoChain without changing their code or developer tools.
Native GO-20 tokens, which are Ethereum compatible
1,300 TPS with low gas fees achieved with 3 live nodes on mainnet
Proof of Reputation ("PoR") consensus model that depends on the reputation of its participants to keep the network secure
Authorized signers to be comprised of 50 reputable companies from multiple industries and spread out across multiples countries
Voting out bad acting nodes or onboard more reputable companies
Company and DNS verification to authorize signing nodes
GO tokens are paid out as transaction fees to trusted nodes run by up to 50 authorized signers who create, sign, and distribute blocks to other nodes. A list of authorized signers is maintained on the blockchain and they are rewarded with GO tokens for each signed block.
|Token Type||Native Coin|
|Private Sale Allocation||34% of Total Supply|
|Public Sale Allocation||17% of Total Supply|
|Private Sale Dates||Feb-Apr 2018|
|Public Sale Dates||Apr-May 2018|
|Token Sale Price||20,000 GO / 1 ETH|
|Circulating Supply||627,603,035 (61%)|
A total of 20,484 ETH (~$12MM) was raised in private and public token sales, representing 51% of all tokens
The following chart represents the number and breakdown of all GO tokens released into circulation on a monthly basis from May 2018 (token sale date) to March 2021, at which point all GO tokens are expected to be in circulation.
As of October 2018, Gochain has already used approximately 50% of its ICO funds on the following activities in the ratios below:
All remaining token sales proceeds are locked in a multi-sig cold wallet which requires both the team's and their lawyers' keys to access.
The Top 10 token holders are highlighted below:
GoChain has hit the milestones that they originally set out in the ICO, the most significant of which was launching their mainnet launch in May 2018. GoChain's latest focus has been on rewriting the storage engine to support a much larger blockchain in order to better support more data.
The next major change on the Project's roadmap for this year is upgradeable smart contracts. A key security issue with the Ethereum network is the lack of theft prevention measures — GoChain aims to reduce the chance of theft from bugs, by equipping smart contracts with the ability to pause a contract (stop the theft) and upgrade it (fix the bug that made the theft possible). Read more on the upgradeable smart contracts proposal here.
The team has continuously worked on stability and performance improvements with a target of hitting 13,000 TPS in 2019.
|Dec 17||Proof of Concept||Dec 17||On Time||N/A|
|Feb 18||Private Sale. Build out testnet||Feb 18||On Time||Medium|
|Mar 18||Testnet live and available for review||Mar 18||On Time||Medium|
|May 18||Public Sale||May 18||On Time||Medium|
|May 18||Public Network Launch||May 18||On Time||Medium|
|Q4 2018||Next Generation Smart Contracts||In Progress||In Progress||Github|
|Q1 2019||Apache 2.0 Licensed Rewrite||In Progress||In Progress||N/A|
|Q2 2019||Achieve 13,000 TPS||In Progress||In Progress||N/A|
As GoChain's success largely revolves around its ability to drive adoption to its platform, the project has been very active in closing key commercial and strategic partnerships. This progress includes:
Two upcoming middleware projects built on GoChain:
Four ICOs announced - the following teams will accept a mix of ETH and GO for contributions, while distributions will all be in GO-20 tokens, native to GoChain:Solaster |Veritoken |Etherprise |Job.com
Partnerships & GO token integrations with wallets & aggregators such as Trust Wallet, Primablock, MyEtherWallet, & Blockfolio.
Member of the Ethereum Enterprise Alliance
The GoChain team will not receive any tokens from projects that choose to conduct an ICO using the GoChain platform. However, team members are free to become advisors on projects as they see fit, as long as they are transparent and the roles do not conflict directly with GoChain.
GO is an actively traded token with an ~$6.7mm 30 day avg. trading volume and ~$33.6mm 30 day avg. market cap (as of 5 Nov 2018).
GoChain has a total of 20 Github repositories, all of which are public. In aggregate, the GoChain team has made significant technical progress as highlighted within each of these repositories.
Additionally, key public repositories have documentation in Github, as well as in the separate documentation repository.
Public fork of main ledger repository
Block explorer for GoChain
Similar to ETH, users of the GoChain platform must pay transaction fees (or "gas") in GO tokens to perform transactions on the blockchain. Authorized signers will create, sign, and distribute blocks to other nodes and earn GO tokens. The rate of rewards will be 4.4% of total tokens (44MM) in year 1 and will decrease over time. The amount awarded per block will depend on the finalized block times. Block times are 5 seconds so each node is rewarded 7 tokens per signed block in the first year. There will also be small transaction fees that the authoritative node will keep for signing the block containing the transactions.
GoChain claims that current gas fees are already 7,500x cheaper than ETH's, and will remain low until capacity is maxed out.
GoChain Management Team
GoChain has implemented a two-phase voting process. For the initial rollout, the GoChain Foundation will add the first 50 signers to the authorization list. This will help ensure forced decentralization and avoid interference by any single government. Once 50 authorized signers have been established then voting control will be handed over to the signers to govern themselves. The PoA implementation repurposes several block headers to pass voting information between nodes.
Initially, 50 reputable companies from different industries and countries will be chosen by the GoChain Foundation to be the authorized signers. This aligns with the PoR consensus model where a participant must have a reputation that is important enough that they would face dire consequences if they were to cheat the system–in both brand and financial terms. Most businesses would face serious consequences if they were caught cheating a financial network. Larger companies with well known, strong brands will be chosen over smaller companies with less to lose in the event of a malicious act.
GoChain will look at a variety of factors for onboarding new nodes:
Source: GoChain Management Team
GoChain will then compare the potential candidate to the existing nodes as a relative comparison. As the reputation of nodes on the network increases, the threshold for becoming a new node will continue to increase as well.
Companies which operate authorized signer nodes will go through a verification process to ensure that their identity is correct. These validation steps will be automated through the use of smart contracts on the blockchain. The Proof of Authority ("PoA") implementation provides a point-in-time signer and voting state to provide full transparency to end users. Combined with the verification data stored within smart contracts, users can see what companies are running nodes. More detailed information on the verification process can be found in the GoChain whitepaper.
As of October 2018, GoChain has onboarded only 11 out of the 50 targeted authorized signers. Below is a list of the current companies signing blocks:
|GoChain||https://gochain.io||0xed7f2e81b0264177e0df8f275f97fd74fa51a896 0x3ad14430951aba12068a8167cebe3ddd57614432 0x3729d2e93e8037f87a2c9afe34cb84b7069e4dea 0xf6290b7f9f871d21317acc259f2ae23c0aa69c73|
GoChain ran a live load test in March 2018 and achieved an average transaction speed of ~1,354 TPS with 3 live nodes. Stats can be found here.
GoChain's primary strategy to grow its community is to drive adoption through dApps that are built on GoChain. Current community activity is globally distributed, with a concentration in Asia and Europe.
As a transactions-focused protocol with a live mainnet, GoChain considers Ethereum (ETH), EOS (EOS), NEM (XEM), Stellar (XLM), Wanchain (WAN), Neo (NEO), TRON (TRX), and Tezos (XTZ) as their main competitors.
A comparison table of mainnet blockchains which GoChain considers as competitors are as follows:
|NAME||CONSENSUS||MARKET CAP ($MM)||PROGRAMMABLE||DESCRIPTION|
|GoChain||PoR||$37.66||Yes - Solidity||Scalable, high performance, low cost, and decentralized blockchain that supports smart contracts and dApps|
|EOS||dPoS||$4,957.16||Yes - WebAssembly||Enables developers to create blockchain-based applications, focusing on dApps, smart contracts and decentralized autonomous corporations.|
|NEM||PoI||$810.00||No - Offchain||Open, customizable blockchain solution for any number of use cases built on top of simple, powerful API calls|
|Stellar||SCP||$4,734.53||NA||Free, open-source network that lets anyone build low-cost financial products for their community.|
|Wanchain||PoS||$107.21||Yes - Solidity||Wanchain platform will allow any institution or individual to set up their own virtual teller window in the "bank" and provide financial services like loans, settlements, and credit payments with digital assets|
|NEO||dBFT||$1,058.85||Yes - Multiple languages||China-based blockchain ecosystem which aims to rival Ethereum through smart contracts, dApps, and token issuance systems|
|TRON||dPoS||$1,314.96||No||Decentralized entertainment content sharing platform that leverages blockchain & peer-to-peer network technology|
|Tezos||PoS||$795.81||Yes - Michelson||Protocol that hosts dApps and smart contracts. It uses community input to improve upon its flaws and create a fast, secure, and efficient blockchain platform|
Market Cap as of 5 Nov 18