Penn State, a U.S. university touting more than 40,000 students, has agreed to operate as a signing node for GoChain’s proof-of-reputation, or PoR, blockchain.
Constructed as a fork of the Ethereum blockchain’s code, GoChain is secured by selected entities who run their own nodes, Marie Gonzalez, GoChain’s senior vice president of marketing, told Cointelegraph.
GoChain’s blockchain uses a consensus mechanism called PoR, which calls on a set number of approved signing nodes to help run the network. The blockchain aims to eventually function with 50 of these nodes. “We set the bar high so it’ll take time to get to 50,” Gonzalez said. Some of its current node operators include DISH Network, Lenovo, and now, Penn State.
“One public blockchain with maximum 50 nodes,” Gonzalez explained, adding:
“It is public and accessible by anyone and is 100% Ethereum compatible, so anyone can take advantage of the 100x scalability (1,300 transactions per second) and 10,000x cheaper fees. Also, because each node is voted in and their reputation is at stake and they don’t need to battle for hashes, GoChain has a 99.9% smaller carbon footprint.”
Scalability has surfaced as a big issue in the crypto space over the last several years. Bitcoin, for reference, only completes approximately 7 TPS on its blockchain.
Penn State’s Smeal College of Business heads up the node via the business school’s Center for Supply Chain Research, said a statement provided to Cointelegraph. The Smeal College of Business has a substantial resume of supply chain involvement.
In addition to operating as a node, the school’s Center for Supply Chain Research plans to study blockchain’s role in supply chain with GoChain and the Department of Supply Chain and Information Systems — another entity within Penn’s State’s business school, the statement noted.
Lenovo made its move onto GoChain in January 2020.