GoChain
Crypto Overview
Overview
GoChain is a blockchain platform launched in 2018 that positions itself as a scalable, enterprise-focused solution with higher transaction speeds and lower energy consumption compared to Ethereum. It claims to be 100% Ethereum compatible while being more environmentally friendly through its Proof of Reputation (PoR) consensus mechanism.
Purpose and Utility
The GO token serves as the native currency of the GoChain network, used for:
- Transaction fees on the network
- Smart contract deployment and execution
- Validator node operations
- Governance participation
Current State and Development
As of 2023, GoChain appears to have minimal development activity, with their last significant GitHub commits being over a year old. The project's social media presence and community engagement have also diminished substantially.
Token Distribution
The initial token distribution allocated significant portions to the team and early investors, with vesting periods that have now expired. The project launched with a total supply of 1,022,343,548 GO tokens.
Actual Usage
Current usage of the network appears to be minimal, with low transaction volumes and limited adoption of its enterprise solutions. While the project aimed to serve enterprise clients, there is little evidence of significant real-world implementation.
Revenue Model
The platform's revenue model is based on transaction fees and network usage, which aligns with Islamic principles as it represents payment for actual services rendered. The platform does not involve interest-based mechanisms or prohibited activities in its core functionality.
Crypto Impact
To assign a comfort level investing in GoChain from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to GoChain.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.