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Golos (GOLOS) ICO Last updated: May 04, 2018 A social Media Blockchain Platform for the world’s russian-speaking community IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice.

Overview Project industry Media Founded Russian Federation Whitepaper Open

Technical details

The platform is based on a blockchain called Graphene II, which is used in BitShares. Technically, Golos is an offshoot of Steemit. All specifications, with the exception of some details, such as in Steemit. Golos like Steemit will use several tokens to the platform: GOLOS (ГОЛОС), in the Steemit it is STEEM Golos Power/GP (Сила Голоса), in the Steemit it is Steem Power/SP Gold-backed by Golos (Золотой), in the Steemit it is Steem Dollar /SMD Golos encourages authors and those who vote for the content. Payments to the author depends on the number votes for his post, as well as how much Golos Power is on the voters accounts. The system also encourages those who vote for articles and comments. Each and every year 10% of the market capitalization of Golos is distributed to users submitting, voting on, and discussing content. Golos is working on a combined algorithm PoS and PoW. For PoS mining, delegates who are chosen by users respond. Each user can vote for the selected delegate. Traditional proof of work blockchains combine block production with of proof of solving work. Because the process of solving proof of work takes an unpredictable amount of time, the result is unpredictable block production times. Golos aims to have consistent and reliable block production every 3 seconds with almost no potential for forks. At Golos there is no commission for transferring tokens between accounts. This is accomplished by a bandwidth-based, rate-limiting algorithm system. The Golos network is built upon Graphene, the same technology that powers BitShares. Graphene has been publicly demonstrated sustaining over 1000 transactions per second on a distributed test network. Graphene can easily scale to 10,000 or more transactions per second with relatively straightforward improvements to server capacity and communication protocols. Golos is a decentralized network that is operated by miners in jurisdictions around the world. All user actions are publicly recorded on the blockchain, and can be publicly verified. This means that there is no single entity that can censor content that is valued by GOLOS holders.

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