Cryptocurrency have revolutionalized the financial market. With the introduction of crypto currency everyone has now gone digital. Money doesn't have to be carried around in cash and this has also reduced the patronizing of centralized financial institutions. FIAT money are no longer carried around and with your cryptocurrency wallet that runs through the blockchain platform on now has unlimited access to his finance with the hope of growth. With your onetime password which gives you access to your wallet your chances of being robbed on the highway is reduced because FIAT money wouldn't be found with those who run a crypto account. Also smart contract is a platform that has also helped to facilitate this revolution. It provides a platform for secure crypto transaction. Buying, selling and exchanging cryptocurrencies are now easier than always and more secure. Well let me now usher you to the next phase.

With the introduction of cryptocurrency, we currently have more than a hundred crypto companies and platform some of which are built on the Ethereum platfrom and are limited. Currently Ethereum has a limit of 13 transaction per second and with the global adoption of the cryptocurrency the number of users increases by the seconds this has resulted to experiencing slow and inscalablility. Gochain in their bid to solve this problems currently faced by the crypto platforms they have introduced a algorithm program called the POR (proof of reputation). This algorithm promises a cheaper, safer and faster user experience using the network with ability to make close to 13million transactions per second. The network plans on correcting the wrongs of the blockchain with the POR Algorithm. The popular POW algorithm has proven to be inconsist and also do not meet up the criteria of decentralization, because it requires a computing system by mining nodes and which also has proven to be cost intensive and a whole lot of workload to execute.

Minining Ethereum is quite centralized because miners depends entirely on chine for mining. This increases the risk of government monitoring, intervention and also possible partnerships and collaborations. Most Ethereum company mines from China which make the Ethereum blockchain a centralized one. Now what POR does it that it spreads its nodes in more than 50 countries around the globe by doing this it is reduces the chances of being monitored by the government and other government agencies. These nodes are companies worldwide handpicked by Gochain to act as a node after meeting specific qualifications set by the Gochain, team one which includes :
• The capacity of the company in terms of size
• the public tradability of the company
• The company brand, if the name is worth it.

These are a few of the steps required for a company to be a node this step also help decentralize the platform from being a centralized one.

With the use of the POR transactions can now back carried out faster, safer and cheaper. One amazing fact also is that in a bid to create change you cannot create a platform without creating a structure to entirely correct this wrong. That is why the Gochain platform is comparable with existing Dapps on Ethereum this allows developers free access to chain from the Ethereum to the Gochain platform without changing their code which means the existing Dapps that are currently experiencing slow network speed to migrate to the Gochain faster network and enjoy its transaction speed at a cheaper rate.

GoChain Flexibility

In order to achieve real mass adoption of the blockchain technology on a commercial level, its important to have a platform that has the users interest at heart. 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.

Use case

Frank on hearing about cryptocurrency decided to give it a try and opened an Ethereum account, after a while he gets frustrated with the slow transactions speed and incapability. He goes on his Instagram page one day and sees a post about Gochain, he decides to give it a try and boom the rest is history.

Conclusion

Gochain is a platform that is designed to correct the wrongs of Ethereum, today o. a Steemit post I read that the Ethereum blockchain gets slower by the second and users have taken to social media to lash out their fraustation. Gochain offers them a solution to the current problems faced by giving a platform that can meets all their transaction requirements with a speed thats a 100times faster than what the currently have.

Precious had this to say

Team

Despite how remarkable all this is, it is important to note that a project is as good as its team, which is why this can be classified as an all-star team. “The core team comprises software engineers, tech founders and business leaders who have spent their careers building high scale, distributed cloud systems, including high performance messaging, data storage and computer services for cloud infrastructure.” Obviously, this gels perfectly with a project like GoChain, especially seeing that “the founders have built and exited successful startups with funding from top-tier Silicon Valley VCs.”

For more infor visit gochain website

This is my submission to the @originalworks sponsored contest
https://steemit.com/crypto/@originalworks/640-steem-sponsored-writing-contest-gochain

gochain2018