The BlockChain at Scale: Welcome To GoChain

So yeah! Slow sucks!

Have you ever tried using something very slow, I mean agonizingly slow, like maybe a slow internet connection? I bet you would have been frustrated. I am most times too. Or perhaps more importantly, you've grown impatient waiting for your blockchain transaction either on Ethereum or Bitcoin to be validated after paying some exorbitant fees? I feel your pain. I really do!

It was just late December of 2017 when Etheremon, an Ethereum blockchain based game was released. In under 24 hours, there had been more than 18,000 transactions which really slowed down transaction speeds and caused charges to fly through the roof! That's what one calls the scalability problem. It so much plagues the promising blockchain technology and is a real threat and an obstacle to the march towards decentralization. 

However, another is not allowing the promising blockchain technology crumble under the problems that currently plague it.

Lets Talk GoChain, Lets Talk Fast, Lets Talk Something Simply Smarter

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Go Chain, fast as a train, smarter and stronger than Ethereum is finally here to lay to rest forever the blockchain's scalability problem and thus offer true decentralization in the sense of the word while still cutting down on the energy consumption characteristics of contemporary blockchains. Sounds too good to be true? It has already been tested and guess what? It works!

Speed + True Decentralization, could it get better?

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Proof of Work and Decentralization

Most blockchains run a Proof of Work (PoW) consensus algorithm. A situation where such an algorithm is used to confirm transactions and producenew blocks to the chain. I PoW miners compete to compete to complete blockchain transactions and get rewarded. The problem however lies in the fact that a few powerful companies with powerful enough cmputers have hijacked the whole mining business for themselves. Talk about capitalism in decentralization.

However GoChain has brought about a new system which is tested and found to be reliably better, faster and offers true decentralization to the blockchain. That system is called Proof of Reputation (PoR). Now instead of using enormous financial resources to get the best computing power and hijack the whole mining process, businesses would have to stake their reputations such that they would be carefully be checked apby each other and so keep the network secure.

The blockchain and Energy Consumption.

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Perhaps one of the reasons why Chinese companies dominate the blockchain mining process is the cheap availability of power in China. Now what happens to other locations where power is simply not enough for the tedious mining process? They simply fade out of the whole process, which is already happening. So much for decentralization! However once again GoChaincomes to the chain's rescue.

According to GoChain's whitepaper;

Using a trusted network of authoritative nodes means that there will be no mining. No mining means there will be no battle between computers to win blocks and therefore no wasted energy. Nodes will only require a small fraction of this energy to process transactions, run smart contracts, and verify blocks.

Now that's amazing! Well thanks to GoChain, the blockchain as innovative as it is was meant to solve problems through a new approach and GoChain is surely doing just that.

So yeah, welcome to the future, welcome to the effective blockchain which is;

More decentralized,

Much more faster,

And basically a platform that provides a means of developing Decentralized apps whose potentials would not be limited by the scalability problem of the blockchain.

Well, does it even go better than even providing already existing blockchain applications and smart contracts the opportunity to move over to the GoChain and experience the true potentials of the blockchain? I doubt not.

Welcome to the Blockchain at Scale, welcome toGoChain

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For more information, check ou these sources;

• Gochain Website
• GoChain whitepaper

This article was written for this OriginalWorks contest.