Hello Everyone,
In this post, I will describe about GoChain Ethereum based blockchain which motto is to solve the problems on different platforms like Ethereum. It is trying to improve blockchain by solving some major problems. It will able to handle 100x the transaction speed of Ethereum. It will bring huge changes ,in the world of smart contract applications.

Image Source
What is GoChain?

GoChain is a smart contract blockchain platform which works better than Ethreum platform.It will go beyond the Ethereum smart contractsa with the use of Proof of Reputation(PoR) instead of Proof of Work(PoW) and Proof of Authority(PoA). It has such big benefits that will allow Dapp and smart contract developers to shift from Ethereum platform to GoChain platform.The major benefits of GoChain are

10x decentralized

1000x less energy consumption

100x faster

Image Source

As we all know that there is a huge number of projects built on the Ethereum platform. The demerit of this platform is, it can handle only 13 transactions per second. But in GoChain this issue will not rise. There will be 13 times more transactions per second, i.e., 1300 transaction per second. This means it can generate more than 500 GB of data in 30 days. It uses the PoR algorithm, GoCHain allows PoA nodes only for the companies having high reputation risk. The companies which have high value can become a node.
GoChain’s main aim is to solve some big issues in the crypto world. The major problems like energy consumption, the speed of transaction and decentralization. All of these problems are created by the PoW algorithm. GoChain is different than others with many features like more scalable, high performance, decentralization, low cost.

Why GoChain?
GoChain allows instant transaction and contract execution, which is not available on other platforms. It is compatible with the Ethereum wallet and smart contracts. If we compare GoChain with already running ICOs, it can build better-decentralized appilications and smart contracts. It is a public cryptocurrency so it will be distributed to our benefit.
I think GoChain can take this technology in a new direction. GoChain main motto is to improve core things like speed, energy and also the smart contract system. The improvement in smart contract system can make it error proof and easy to handle.

Under this GoChain platform, authorized users are rewarded with the GOC token when he/she signs a block. GOC is abbreviated form of GoChain. GOC token is the ERC20 standard token. GoChain team has decided to supply 1,000,000,000 GOC. The number of token generation will decrease slowly when time moves ahead. Token sale hard cap is set at 2,500 ETH, and the soft cap is 2,500 ETH.

GoChain will distribute the generated token in different ways.
A. 6% will be distributed to partners/advisors with six month lockup time.
B.10% will be kept in reserve with lockup time of 12 months.
C.10% will be for a team with 24 month time.
D. 4% will be distributed for marketing purpose.
E. 50% will be distributed for token sale.
F.10% will be distributed for the bounties.
G. 10% will be distributed for its own “GoChain Fund”.
Token Sale
GoChain token sale will take place in three stages.
Phase 1 – GOC private sale
Phase 2 – GOC pre token sale
Phase 3 – GOC Public Sale
Private sale was started from February 8th and ended in 28th February. Token cap in this token sale was 100,000,000 GOC, and minimum investment was 50 ETH. It’s already closed now. In pre-Sale token cap available is 200,000,000 GOC. This pre-sale will be running from 1st may to 15th may. Minimum investment required at pre-sale is 20,000 GOC per ETH. You need to invest at least 5 ETH to take part in this token sale. More than 9,000 peoples have already registered for this token sale. If you also want to take part in this token sale, then you can register here

The public token sale will start on 16th may 2018. The token cap for the public sale is 200,000,000 GOC. You can buy 16,000 GOC per ETH in this public token sale. The minimum investment is 0.5 ETH, so if you have the small capital to invest, then you can buy tokens in this period. In the month public network will launch with different nodes around the world, which can support 1300 transactions per second. In the year 2019, it will have to increase the performance and volume as compared to initial launch. In 2019 it can handle 13000 transactions per second. Now more than 70% of mining is done in China only, and some few companies are mining in a huge amount. This shows that open decentralization doesn’t work well and GoChain aims to fix this problem by forcing nodes to be in different countries. GoChain will provide 100X transaction speed in the initial stage. Ethereum and few other platforms are consuming the very high amount of energy and GoChain will also solve this issue, since they consume 1000x less energy. This means energy consumption will reduce and carbon GoChain aims to provide low cost, scalable and energy efficient platform for decentralize application and digital currency.

global-neon

There are some big issues in Ethereum platform like scalability issue, a security issue, and decentralization issue. But in GoChain these issues are solved and they allow developers to shit their projects into GoChain from the Ethereum platform. They have a team of very experienced peoples who have a capacity to making this platform successful.
You can read more about GoChain on their official website here GoChain
If you believe in blockchain, then you should join GoChain which is going to bring revolution in blockchain industry by providing a platform for decentralized and digital currencies. It has many advantages which I have already mentioned in this post. You can register now for GoChain and take part in the pre-token sale. Which is going to start from 1st may. If you have few money to invest, then you can wait for a public sale.

But you should read their whitepaper before signup. You will get everything in this whitepaper.
If you want more information, then visit the following links. I have also used the information from the links below
GoChain Official Website

GoChain WhitePaper

GoChain Telegram

GoChain Facebook

GoChain Twiter

icotoken news
Thank you very much for reading my post. This is my entry for the @originalworks contest.
Read more about the contest here

gochain2018