5ire

5ireChain is a layer-1 EVM compatible smart contract platform with a focus on creating a blockchain ecosystem based on the Sustainable Development Goals (SDGs) defined by the United Nations (UN). The platform's major objective is to make the consensus mechanism architecture sustainable.

5irechain is introducing SPoS, a multifactor consensus protocol in which a node is assigned weights based on stake, reliability, randomized voting, sustainability score (environmental, social, and governance), and previous nomination. This is proposed as an alternative to the proof of stake (PoS) consensus mechanism and proof of work (PoW) consensus mechanism.

Nodes receiving the maximum weight will be chosen for the assembly of the blocks for the next twelve hours when the process of picking the next nodes begins anew. The platform proposes ProofID, a blockchain-based SSID implementation with matching keys stored in a digital identity wallet for the owner, as well as a marketplace with products and services available at launch. This approach utilizes identity models culled from blockchain technology—a self-sovereign security model and digital credentials using NFTs.