Can you imagine a faster, cheaper and safer way to scale the most succesfull tecnologycal development of the last decade while reducing the inherent enviromental risk of any massive human activity?.

From our origins, human kind has always seen the need to go faster, either by the need to hunt and not be hunted (survival in ancient times), or by the need to be in many places almost at the same to achieve our objectives (in consequence of the hyper connected society we have nowadays). The efforts to meet those needs are weighed by the risk of losing data or getting our valuable information corrupted by malicious agents, and by the increase in power consumption inherent with the elaboration of more intricate information systems.

Many have said that scalability is the Achilles heel of cryptocurrency development projects, but GoChain came with the solution for this problem! So don't miss the newest succesfull bullet train for Blockchain development called GOCHAIN .

GoChain's audacious solution provide this advantages:

-High speed in transaction processing.
-Low energy cost.-Decentralized and scalable.
-More secure SmartContracts and DAPPs (Development of decentralized applications).
-Fully compatible with Ethereum's SmartContracts and wallets.

In order to better understand the features of GoChain's propossal.

Proof of Reputation (POR)

Given the need to improve the consensus algorithms, there have been several changes, from Proof of Work (POW) used by Bitcoin, where you have security because of the enormous energy and computational power needed to alterate any transaction, but at the cost of an excessive electricity consumption that limits scalability and groups of cartelized miners that make the system not fully decentralized.

Then we have Proof of Stake (POS) where validators are chosen randomly based on the amount of investment and participation they have within the network, therefore those with more coins are the guardians of the integrity of the system, because they are the ones that have more to loose if something goes wrong. Less power consumption but still the issue with centralized nodes is not solved .

On the other hand, there is the Proof of Authority consensus (POA) where trusted or authoritative persons (previously verified) provide all the processing of transactions, the problem with this protocol is that those who supply their data for verification got their privacy compromised and are exposed to attacks, also many networks that use POA do not have compatibility with Ethereum.

Finally, the team of GoChain reached a concept that has all the upsides of the previous protocols but none of their weaknesses, Proof of Reputation model (POR) allows only well known and established companys to be an authoritative node to validate transactions, companies will have unaffordable loses if they got caught cheating the system because its brand will loose its reputation and their customers will consider them not trustworthy.

Now we can easily understand why GoChain offers a milestone for the development of Blockchain:

Go Stronger, Go x10 Descentrealized

Since a group of Chinese companies occupies around 75% of the blocks that are mined worldwide, involving cryptocurrencies such as Bitcoin, Ethereum and others, it evidently makes 51% of the attack on the network possible.

GoChain promotes that the companies that make the POR be from 50 different countries to avoid centralization. Furthermore, no government can have absolute control of this Network. Thus providing more security and robustness.

Go Faster, Go x100 Quick

GoChain comes with a high rate of transaction speed, thanks to the implementation of the POR, compared to Bitcoin that processes 7 Transactions/sg while Ethereum 13 Transactions/sg, GoChain averages 1300 Transactions/sg. Trusted nodes can handle data in a similar way to modern data services such as Google, so the processing speed of transactions is multiplied by a thousand.

Go Greener, Go x1000 More Ecologically

Did you know how many houses could be fed with the energy consumed by Bitcoin or Ethereum to stay operational? 3.5 Million and 1 Million American Households respectively. With GoChain we reduce this consumption by 1000 times. Actually Bitcoin and Ethereum would not be unsustainable, if electricity in some countries were not extremely cheap. This significant decrease in electricity is due to POR, which does not depend on sophisticated computing levels such as Bitcoin using POW.

Go Smarter, Go x10000 Eficient

Currently GoChain is 100% compatible with Ethereum, so GoChain will be able to make this technology more scalable, an example of this are transactions that are in the order of 1300T/sg (according to TestNet beta test), Ethereum based apps will also be able to transfer data to Gochain without making any code changes.

Finally, although they are called Smart Contracts, these Ethereum contracts are not really smart, since you can't modify them, any underlying error can cause millions of dollars in losses, Smart Contracts needs to be more flexible and reduce its vulnerability to abuse when someone finds an error in the code. The GoChain team is developing new criteria to allow participants of DAOs to modify contracts when needed. Of course, GoChain will support immutable contracts to guarantee compatibility with the Ethereum blockchain.

If you want to dig deeper and get to know more of this oportunity you can read GoChain's WhitePaper here.

Well if you want only the best, you must go with GoChain .

For more on GoChain and their work visit:

°GOCHAIN WEBSITE
°GOCHAIN WHITEPAPER

And community:

°FACEBOOK
°TWITTER
°BLOG
°REDDIT
°BITCOININTALK
°CRUNCHBASE
°TELEGRAM
°TELEGRAM UPDATES

This is an entry to a contest rendered by @originalworks.

gochain2018