Golos (cryptocurrency)

Golos (cryptocurrency)

Golos is a Russian cryptocurrency and blockchain blogging platform.

Golos, also known as Golos Gold, is a Russian social media and blogging platform that is a licensed hard-fork of the Steemit project, and is built on the Graphene blockchain. Golos is dedicated to the Russian community and is only available in the Russian Language — Glolos means 'voice' in the Russian language.

The Golos platform uses three different cryptocurrency tokens to reward and promote user engagement, they are: GOLOS (primary trading token), Golos Power (voting rights token), and Gold backed by Golos (token rewarded to content creators with a fixed value of 1 milligram of gold).

Golos is developed by a company that invests in blockchain startups called Cyber Fund, and officially launched on October 15th. A crowd sale for Golos was held 15 days after the launch of the cryptocurrency and raised approximately $453,000.

Every transaction occurring on the Golos platform requires network validation from several nodes. Golos uses a combination of Proof-of-Work (PoW) and Proof-of-Stake (PoS) for its consensus mechanism. The Golos consensus mechanism selects 21 delegates through voting by the platform token holders to validate a block; this process repeats 21 times for all 21 blocks required to validate a transaction. Every block has a production time of 3 seconds.

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