GOCHAIN | Smarter, Better, Faster, Stronger 100% Ethereum Compatible, 100x Faster.

freshclass (40)in #crypto • 6 years ago (edited)

There is a new blockchain network i would i like to introduce you guys to : It is the GoChain blockchain company that is built on Ethereum, it is faster than Ethereum. Got this info from the @originalworks writing Contest

Many new blockchain companies are built on top of Ethereum. Ethereum is currently limited to 13 transactions per second. Given the huge user base, this results in slow transaction speeds and limits the scalability of the network itself as well as DApps that are built on it. GoChain solves this issue by introducing a new consensus algorithm called POR(Proof of Reputation). It is faster, cheaper and easy to implement. GoChain is a scalable Ethereum based smart contract blockchain that is fast, secure and green. It enables DApp and smart contract developers to lift and shift from Ethereum to GoChain for 100x increased performance.

Screenshot_2018-07-02 GoChain - Smarter, Better, Faster, Stronger Blockchain.png

It enables DApp and smart contract developers to lift and shift from Ethereum to GoChain for 100x increased performance.

Benefits of other crypto companies being able to easily transfer to the GoChain network.
A Better Blockchain and Cryptocurrency
GoChain is a scalable, high performance, low cost, and decentralized cryptocurrency and blockchain that supports smart contracts and distributed applications.
A public cryptocurrency
Build decentralized applications and rock solid smart contracts
Fully compatible with existing Ethereum wallets, smart contracts and other tools
Fast transactions and contract execution
Next generation decentralized app platform goes beyond Ethereum smart contracts.
Gochain is faster, doing 1300 transactions per second.

The impact of GoChain's100x speed and 7500x cheaper transaction fees: - Ease of access to numerous devices and nodes.
100x Faster
GoChain will support very high transaction volumes with fast verifications. Ethereum can only process 13 transactions per second, GoChain will initially target 1300 transactions per second.
Goal: 100x more transactions per second
Screenshot_2018-07-02 GoChain (GO) - All information about GoChain ICO (Token Sale) - ICO Drops.png

Giving companies the ability to change their code open the doors for more businesses to get aboard:- Ease of
access.
Proof of Reputation
POR is a key component of how GoChain works.
Whereas the well known POW(Proof of Work) relies on computing power to process transactions on networks such as Ethereum, GoChain utilizes POR(Proof of Reputation).
An issue with Ethereum is that miners are heavily centered around China. This increases the likelihood of government intervention as well as collaboration and collusion. With a few large companies running more that half of the mining operations for Ethereum, it is not as decentralized as it could be. The POR platform enables other blockchain companies to change their code and open doors for more business to get aboard.
10x More Decentralized
Open decentralization did not work as intended as more than 70% of mining is in China and the majority of that is run by just a few companies. GoChain forces nodes to be in different countries, run by unrelated people/companies.
Goal: 10x more decentralized

The importance of catering blockchain technology to the commercial sectors such that they can easily integrate:- to prevent government involvement and companies collusion.
1000x Less Energy
The energy used to run the Bitcoin network could power more than 3.5 million US households, 1 million to run Ethereum. We think that's completely unnacceptable and unsustainable. GoChain will use a small fraction of the energy used to run other cryptocurrencies.
Goal: 1000x less energy consumption

How GoChain promote mass adoption of cryptocurrencies:- GoChain's Flexibility
In order to have real mass adoption of blockchain on a commercial level, it is necessary to have a blockchain that caters to their needs. Current blockchain technology does not allow developers to fix bugs and change code once it has been launched without performing something along the lines of a hard fork. GoChain intends to add a feature that will allow companies to update their code. Companies can decide on the method which will allow them to change code. For example, a company may set a required number of votes, or agreement from specific individuals before any change to their code can be made.

Here is a little video to show you how Gochain works:

GoChain MainNet Live
Since the close of their ICO, GoChain has kept up with their roadmap.
MainNet is live.
GoChain Explorer
GoChain Wallet
List of Nodes