Question 1

What's the current price of GoChain (GO)?

Accepted Answer

The latest price for GoChain (GO) is A$ 0.00101348, with a -0.53% change in the last 24 hours.

Question 2

What is GoChain (GO)?

Accepted Answer

GoChain is a unique cryptocurrency that's designed to support smart contracts and decentralized applications (DApps). It's a scalable, high performance, low cost network that aims to provide a more efficient platform for smart contract execution compared to other existing blockchains. Boasting 100 times the speed of Ethereum, GoChain is making waves in the world of digital assets.

Question 3

Who are the creators of GoChain?

Accepted Answer

The GoChain team isn't explicitly mentioned on the website, but it consists of experts and innovators who are passionate about decentralized technology and the future of blockchain.

Question 4

How does GoChain work?

Accepted Answer

GoChain operates using a consensus model known as Proof-of-Reputation (PoR), a variant of the common Proof-of-Stake (PoS) model. Instead of having validators with the most stake in the network, GoChain's PoR model relies on validators with a reputation to uphold. This means that the financial stakes are supplemented by a reputational stake, creating a more incentivized network where validators are less likely to act maliciously. Moreover, GoChain claims to offer a more energy-efficient alternative to Proof-of-Work consensus mechanisms.

Question 5

Why is GoChain unique?

Accepted Answer

GoChain's greatest claim to uniqueness is its impressive scalability and high performance at a low cost. The network's promise of 100 times the speed of Ethereum coupled with lower costs represents a significant improvement over existing platforms. Additionally, GoChain's Proof-of-Reputation consensus model represents a novel approach in blockchain technology, leveraging reputational stake as a deterrent for malicious behaviour.

Question 6

What is Proof-of-Reputation in GoChain?

Accepted Answer

Proof-of-Reputation (PoR) is the consensus mechanism used by GoChain. In contrast to Proof-of-Work and Proof-of-Authority mechanisms, PoR places more trust in nodes with a proven reputation. Essentially, the nodes that are trusted to validate and verify transactions are those with a reputable status and something to lose, making it unlikely they will validate false transactions.

Question 7

How many GO coins are in circulation?

Accepted Answer

Currently, there are 1.3B GO coins in circulation. The total supply is capped at 1.4B.

Question 8

How can one buy GoChain (GO)?

Accepted Answer

You can buy GoChain (GO) coins at any of the following exchanges: UPbit, Gate.io, Binance, Beaxy, Bittrex. It’s important to note that cryptocurrency investments carry risk, and you should only invest what you can afford to lose.

Question 9

How to keep GoChain safe?

Accepted Answer

As with any cryptocurrency, the safety of your GoChain coins comes down to responsible storage. Make sure to use a wallet that supports GoChain and always keep your private keys private. Additionally, be wary of phishing attempts and always double-check website URLs and email senders. Lastly, if you're storing a large amount of GO coins, consider using a hardware wallet for added security.

Convert GO to AUD

Try our Crypto Pro app