GoChain - Smarter, Better, Faster

maeugenia (52)in #contest • 6 years ago (edited)

GoChain is a decentralized network for blockchain that was made to solve the scalability problems of various networks by launching a new system called POR (reputation test), ready to use and easy to implement.

Currently companies like Ethereum can only perform 13 transactions per second due to the large number of users that saturate the network, but with GoChain and its POR system they will be able to perform 1300 transactions per second, which increases the scalability of the network to increase the speed of transactions, as well as that of associated DApps.

What is Proof of Reputation?

Proof of Reputation is a test used by GoChain and is based on the computing capacity to process transactions on Ethereum.

China currently monopolizes cryptocurrency mining with companies that execute more than half of Ethereum's operations, which results in government interventions and manipulations in the processes. GoChain solves this problem with POR by initially assigning 50 authorized companies scattered in different parts of the world, in this way no company will have a monopoly on Ethereum operations.

As more companies act as nodes, the possibility of manipulation decreases, giving rise to greater confidence in operations. The companies selected as nodes by GoChain will be subject to a series of criteria to guarantee their reputation in the cryptocurrency market.

Compatibility with Ethereum DApp.

GoChain is compatible for Ethereum DApps, it is easy to migrate to this system and start using the 100x transaction speeds that GoChain can process. In addition, their rates are 7500 times less expensive than Ethereum.

Currently the blockchain does not allow developers to correct errors and change their code, but GoChain ahead of flexible network needs promises to add a feature so that companies can update their code.

As we can see the advantages offered by GoChain are many, by migrating to this innovative system you will have a decentralized system, faster in transactions and at the best market price, since with GoChain 1000x less electricity is consumed than with Ethereum.