What is Proof of Reputation?
Proof of Reputation (PoR) is a consensus method in which approved node signers sign and validate blocks on the blockchain. The GoChain PoR governance will consist of 50 node signers when it is completed. These signers can be businesses, non-profits, or other entities that have a set amount of reputation to stake to prove they will act in good faith when signing the blocks on the chain. If more reputable companies emerge as candidates other signers will be voted out of the signing network so that the network continues to increase the total pool of reputation over time.
This differs from other consensus models because there are fewer energy requirements to run and less risk of bribery, threats, or acting in bad faith that can come from individuals being signers like on other consensus models.
How are Signer Nodes Evaluated?
For the initial rollout, the GoChain Foundation will add the first 50 signers to the authorization list. While our 50 node consensus is still being formed the GoChain Foundation audits each current and potential node through a rubric consisting of a number of metrics described below. Once 50 authorized signers have been established then voting control will be handed over to the signers to govern themselves.
Current nodes are audited periodically to make sure the entire network's level of reputation is continuously increasing. Any node that falls out of the target range of reputation will be given 30 days to regain their positive standing or risk being voted out of the signing network until they can increase their reputation according to the rubric.
Who are the current signer nodes?
You can find a list of who is actively signing nodes on the GoChian main network by visiting our public explorer. You can also use the explorer to see information such as which node has signed a specific block of transactions as well as what is the percentage of blocks an individual node has signed. To see the signers signing blocks in real time you can view our blockchain statistics portal.
Why Become a Node Signer?
The GoChain network offers 7 GO per block with a 5-second block time. When a signer node validates a block they receive the reward for the block. The GO Currency allows transactions and interactions with smart contracts. Signers who are also building on the platform can use these rewards for their usage when interacting with the GoChain Network.
Apply to become a Signer Node