GoChain: The BIG blockchain solution!
The world is currently entering a new digital era of monetization, which is becoming more and more powerful and booming, so it becomes important and even fundamental to seek new ways of exchange that ensure a profit and savings of services and time that help both the consumer and the producer.
There are many platforms currently in charge of making exchanges, payments and shipments of cryptocurrencies; however, not all of them offer a 100% reliable service, or still present certain deficiencies in terms of their operation, an issue that makes these types of transactions difficult. for the lack of confidence that small businesses or services responsible for them to produce.
A team of entrepreneurs that wanted to create a solution, since they, observing the existing problems of many ethereum management platforms, decided to take action on the matter and then create a system that has multiple benefits within the blockchain and the cryptocurrency transaction system.
But first, what is blockchain? What are cryptocurrency? How does an ethereum work? Let us answer these questions before going into the subject of what GoChain does properly and how each mentioned area can improve
Blockchain
Cryptocurrencies
Ethereum
This is how having these basic concepts defined, we enter into the really important topic that you will be into right now
What is GoChain?
As we said at the beginning, the different options in terms of blockchain chains present multiple failures or deficiencies, which are basically based on the structures in which they were created and the systems they use to become functional systems, which is a constraint on general capabilities such as time and resource operations.
This is when GoChain enters, a system that seeks to solve the main problems of blockchains such as ethereum and its low speed of operations, since being one of the base systems, tends to create a serious problem in terms of time and amount of resources required to make transactions in general.
What does GoChain offer us?
GoChain implements a system called POR (Proof of Reputation) which is presented as a faster and cheaper method that is simple to implement than other systems like the one mentioned above, starting with the number of transactions that can be carried out within his system, about 1300 per second! (when in others like ethereum, only has 13 transactions).
The POR is the key tool of this system, since it is responsible, through a decentralization process, to distribute and make the blockchain process lighter, since in the specific case of ethereum, it is centralized in China and this makes the use and expenditure of resources is increasing and slow, so GoChain offers a quality output and saving resources with this system.
And how does POR (Proof of Reputation) work?
POR (Proof of Reputation) works through a process of selecting companies located in several places around the globe that serve as "juries" or intermediaries that allow the approval of a transaction much more quickly, since the problem with centralization is that being in a only place, government and legal systems in general has much more impact on it, a situation that does not have as much effect when you have a series of companies that act as authorized signatories around the world and this makes the process an experience in general much more efficient and feasible.
GoChain selects its authorized signatories through a series of criteria that I will cite below, which makes the process as meticulous as possible and makes the effectiveness of the process practically total and definitive:
- How big is the company? (What is their market cap? How much is their reputation worth?)
- Is the company publicly traded? (This ensures the company has a certain level of transparency and governance obligation as well as immediate stock price repercussion as a result of poor behvaiour.)
- How significant is branding to the company? (What are the impacts of ruining their reputation? Is the company heavily branding dependent?).
What are the benefits that GoChain offers for the companies that decide to make their transactions with them?
And the potential impact of GoChain?
Taking into account all the previous points, it is practically obvious that the use of the GoChain system is an outlet for pollution and the use of excessive resources, which in the future will become a DETERMINING factor for the survival of the digital currency and all its branches and processes, so this represents an impact that in principle may not be very noticeable, but that in the end will be determinant for the blockchain itself and its main operations around the globe.
But, what about the companies and their options?
There is something FUNDAMENTAL offered by the GoChain system and that is the option to provide companies that are affiliated with the opportunity to edit certain basic characteristics of their processes, such as updating their codes, as with other blockchain systems it is not possible to do.
And this is a great advantage since companies can, for example, define characteristics such as the number of votes or the information that they will receive from a certain person before the code or transaction is finalized, and they are options that provide the companies have greater reliability and ability to integrate with the global system, which means that more and more companies, seeing these alternatives, want to participate and take part within the large GoChain main chain.
Is it important for companies to adopt this technological system at all?
And the answer is a simple but definitive and forceful: YES.
Currently, the world monetary system is presenting various changes that make systems such as GoChain and Blockchain in general, something essential for companies that want to undertake their business with their digital and even personal transactions, and what better way than adopting a system that allows, at first hand, to experiment with this system of currencies of a much more comfortable and simple way besides thrifty?
If you are a company that is looking for new exchange options for your currencies, you do not have to search anymore, since GoChain is your best alternative!
and this is precisely why GoChain promotes the integration and massive adoption of cryptocurrencies
because if for example, you are a company that only manages Bitcoin or Steemit, for example, and you need a system in which you can make a transaction quickly and the systems that you use can not give you that speed you are looking for, then it is there when GoChain and its system can help you, since you can make the transaction that you require and with the currency that you need or have at your disposal without having to resort to systems that can reach be much more complex and less reliable, and even globally they end up not being as fast as you needed or expected it to be.
Conclusion
GoChain is a platform that is still in a phase of construction and optimization, but that promises and ensures a change in the current system of the blockchain application and in its consumption of resources in general, which in the long run will end up being something crucial for sustainability and the environment, so as an option is projected with great alternatives, at least on a personal level, as a platform that has the power to be even more important than many others such as ethereum, although its final plan is not is to compete against them, but to ally and create together an almost perfect and fully functional strength in all respects (where the mentioned time, natural and artificial resources stand out) of currency exchange of cryptocurrencies that come and continue to rise through the blockchain system.
For more information watch this short introduction:
More Information & Resources:
| Category | GoChain Article |
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| Tools | Pc |
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