RENO, NEVADA, USA, JULY 11, 2018 — GoChain, The Blockchain Company, today announced the addition of Cloud Carib, a premiere provider of trusted cloud and managed services in the Caribbean and Latin America, as a signing node operator for the GoChain blockchain network.
Headquartered in The Bahamas, Cloud Carib is focused on delivering secure and hybrid infrastructure solutions and managed services to the region through locally operated data centers and strategic alliances with leading technology partners. Their services and solutions are built with privacy, data sovereignty and performance in mind, ensuring business-critical applications are always secure and available. Cloud Carib employs more than 50 people in the region with revenues in the $10M-$100M range.
As a signing node, Cloud Carib will be one of up to 50 enterprises and organizations to run specialized servers that facilitate the GoChain network’s Proof of Reputation (PoR) consensus algorithm and validate the blocks of transactions produced on the blockchain network.
These nodes, which are run only by known and “reputable” corporations and organizations, combine to foster the growth of the network while providing security through their geographic distribution.
“Blockchain and Cryptocurrency provides the foundation for digital transformation of the region – a region known for high trust, which carries a reputation of protecting the world’s assets and Cloud Carib is a proud participant.”Stelios Xeroudakis, Cloud Carib Founder and Chief Technology Officer
The GoChain team is proud to take another leap towards a trusted decentralized & distributed node network by having a node running in the Caribbean by a Caribbean based company.
We’ve been overwhelmed with node applications and are carefully vetting and testing server infrastructure of prospective nodes. Stay tuned for many more node announcements to come!
About Cloud Carib
Cloud Carib is the premier provider of trusted cloud services in the Caribbean and Latin American regions. Headquartered in The Bahamas, we are focused on delivering secure and hybrid infrastructure solutions and managed services to the region through locally operated data centres and strategic alliances with leading technology partners. Our services and solutions are built with privacy, data sovereignty and performance in mind, ensuring business-critical applications are always secure and available. To find out more, visit https://www.cloudcarib.com, follow us on LinkedIn, Facebook, Twitter and read about the latest news on our newsfeed.
About Proof of Reputation
Reputation is critical to a business. A business that acts in an unethical way suffers on many levels including financial (fines, loss of revenue), valuation decreases, branding (distrust) and public relations. Trust is cornerstone to a successful business and once a brand loses trust with their customers, it can take years to recover if ever.
GoChain uses the Proof of Reputation (PoR) consensus model that depends on the reputation of the participants to keep the network secure. The networks nodes are operated by up to 50 reputable enterprises and organizations around the world. These nodes validate the blocks of transactions produced on the blockchain network.
The benefits of Proof of Reputation are:
- It’s green — No need to consume large quantities of electricity in order to secure a blockchain (Bitcoin and Ethereum are estimated to burn over $12 million worth of electricity costs per day as part of their consensus mechanism).
- It’s secure.
- It can perform much faster due to removing the heavy calculations required for PoW and having a known number and size of nodes.
- It’s as decentralized as the companies are decentralized.