GoChain is 100x Faster Blockchain.

benemerito (39)in #crypto • 6 years ago

Greetings from the Steemit community, here again to participate in the @OriginalWorks contest writing about GoChain and the graphic designs of the platform of my authorship.

Since the world of cryptocurrencies began, platforms have been improving the problems that for users are the transactions that are made in their respective blockchain.

In this opportunity we will be writing about the most relevant of the GoChain cryptocurrency and the improvements it presents in the existing platforms, its use and benefits to capture and make this platform more attractive.

What is GoChain?

"Is the better blockchain and public cryptocurrency. Build decentralized applications and rock solid smart contracts. GoChain is a scalable, high performance, low cost, and decentralized cryptocurrency and blockchain that supports smart contracts and distributed applications."

"GoChain is a fast and efficient blockchain network that improves transaction speeds by orders of magnitude over Ethereum. Fully compatible with existing Ethereum wallets, smart contracts and other tools."

"GoChain solves this issue by introducing a new consensus algorithm called POR(Proof of Reputation). It is faster, cheaper and easy to implement. This means that GoChain can address the scalability issues for blockchain and DApps that are built on top of them."

Benefits of GoChain

The most relevant benefits of the platform and what attracts the buyers and sellers of cryptocurrencies are the improvements and compatibility of the same with other existing cryptocurrency wallets such as Ethereum, intelligent contracts and other tools.

The decentralized applications provide lower costs and greater security in transactions due to the use of smart contracts in their scheme.

GoChain is 10x more decentralized since forces nodes to be in different countries, run by unrelated people / companies. Build decentralized apps and solid contracts.

GoChain is 100x faster since it will support very high transaction volumes with quick verification. Ethereum can only process 13 transactions per second, GoChain will initially target 1,300 transactions per second. More transactions per second and contract execution.GoChain solves this issue by introducing a new consensus algorithm called POR(Proof of Reputation). It is faster, cheaper and easy to implement.

GoChain fees are also 7500x less expensive than Ethereum.

GoChain consumes 1000x less energy, comparing the energy used to run the Bitcoin network can empower more than 3.5 million US households, 1 million to run Ethereum. We think it's totally unacceptable and unsustainable. GoChain will use a fraction of the energy used to run other cryptocurrencies.

GoChain intends to add a feature that will allow companies to update their code. Current blockchain technology does not allow developers to fix bugs and change code once it has been launched.

POR(Proof of Reputation) is a key component of how GoChain works. Proof of reputation works by assigning companies as authorized signers. GoChain aims to have 50 companies from various countries act as nodes. By spreading the nodes around the globe, it lessens the chance of government interaction and collusion.

With all the above, to have a real mass adoption of blockchain on a commercial level, it is necessary to have a blockchain that caters to their needs and GoChain has it.

How to interact on the GoChain platform?

1.) Create your account on the GoChain page and create your wallet to your to use.
[https://wallet.gochain.io]

2.) You’ve been able to use GoChain with MyEtherWallet by adding a custom network, anybody can create a wallet and begin to use it for transactions.
[https://medium.com/gochain/gochain-is-now-available-on-myetherwallet-e392c7f5c9a2]

Then for being compatible with Ethereum wallets you can transfer contracts to Gochain without problems, it is easy, fast and secure.
[https://medium.com/gochain/how-to-deploy-a-smart-contract-to-gochain-40de78d4d85a]