"Smarter, better, faster, stronger"

This is the short deffinition for GoChain a decentralized cryptocurrency and blockchain that supports smart contracts and distributed applications.

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GoChain, what is it?...

It is a network really useful networks that solves the problems of scalability, that is, it is the ability to expand a system to meet business needs.

According to the GoChain web site some caracteristics are:

-A public cryptocurrency
-Build decentralized applications and rock solid smart contracts
-Fully compatible with existing Ethereum wallets, smart contracts and other tools
-Fast transactions and contract execution
-Next generation decentralized app platform goes beyond Ethereum smart contracts.

Although it tends to be instantly identified as a virtual currency, the truth is that Ethereum is a platform in the first place. The name of the coin originally has always been Ether, although at present both names are used interchangeably due to the popularization of the same. The technology behind the Ethereum in blockchain, the same as bitcoin.

POW, POS, POA vs POR

All the networks has been testing inside their plataform with kinds of proof to make the experience better but all of the old proof has their weaknesses, thats why here you can se an explanation of each one and finally you will see why POR or Proof of Reputation it's so innovator, and important solving those old weaknesses.

POW: Proof of work

POS: Proof of Stake

POA: Proof of Authority

Why POR: Proof of Reputation it's so important?

GoChain uses a Proof of Reputation (PoR) consensus model that depends on the reputation of the participants to keep the network secure. A participant (a block signer) must have a reputation important enough that they would face significant financial and brand consequences if they were to attempt to cheat the system.
POR is a key component of how GoChain works, once a company proves reputation and passes verification, they may be voted into the network as an authoritative node and at this point, it operates like a Proof of Authority network (PoA), where only authoritative nodes can sign and validate blocks.

Now you know about each proof, so how can POR solve problems presents in other kind of testing?

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Easily transfer from the Ethereum network to GoChain?

GoChain is a scalable, Ethereum based smart contract blockchain that is fast, secure and green. It enables DApp and smart contract developers to lift and shift from Ethereum to GoChain for 100x increased performance. Since the GoChain platform is based on a fork of Ethereum, it will support all open source Ethereum wallets and other tools, making it easy for users to start with GoChain.
GoChain uses the same fee structure as Ethereum to make things easy for everyone to use and so the tools people use can make good guesses.

The best and more remarkable thing about the GoChain transfers it's the time, that helps a lot to make it a better option because it's 100x more transactions per second

POR (Explaned above) has a lot of benefits to the companies or business, some of them are.

-It’s green — No need to consume large quantities of electricity in order to secure a blockchain (Bitcoin and Ethereum are estimated to burn over $12 million worth of electricity costs per day as part of their consensus mechanism).

-It’s secure.

-It can perform much faster due to removing the heavy calculations required for PoW and having a known number and size of nodes.

-It’s as decentralized as the companies are decentralized.

What is the potential impact of 100x speed and 7500x cheaper transaction fees?

Many new Blockchain companies are built on top of Ethereum. Ethereum transactions are restricted to 13 a second. This can cause slow transaction speeds due to the huge user base associated with Ethereum. GoChain has an initial target of 1300 transactions per second making us 100x faster.

The GO tokens are cheaper for two reasons:

1. The market cap is a lot lower than Ethereum.

2. It's one billion tokens outstanding vs Ethereum’s 100 million tokens.

This make a big impact around the cryptocurrency world, because obviously you will choose something chaper and faster, and that it's what GoChain offers.

How does giving companies the ability to change their code open the doors for more businesses to get aboard?

In a technical report the Reputation Test is explained and how the first 50 "signatories" will be selected, a diverse set of companies that will then have self-government in the future. GoChain initially seeks out which companies will apply to them to run a node. They can also approach some companies too. Ideally, GoChain would like to partner with companies that have a mission similar to theirs to make the world greener, more decentralized and connected. They do not anticipate any problem finding node partners.

Why is it important to cater blockchain technology to the commercial sectors such that they can easily integrate?

The blockchain tecnology it's really important right now because it's the future, that's why it's so useful that commercial sectors make an union with it. Networks like GoChain make the commercial life easier and better with, everything that it offers.
Right now the world it's all about connections so everyday there are more and more networks trying to do it, GoChain improve the concept, because it offers a cheaper, greener, easier, decentralized and more important faster, all those components make it really attractive to the commercial sector, they can integrate really easy.

GoChain helping the cryptocurrencies

GoChain are on a mission to fix some of the fundamental issues that plague existing cryptocurrencies, namely speed/volume of transactions, decentralization and energy consumption. The objective they have is to solve the problem about Ethereum scaling with immediacy being 10 times more decentralized, 100 times faster and 1000 times more ecological. So all current Ethereum users can upload and download as it were, to make a transition without any problem to GoChain without changes in the code.

GoChain's line of time it's really useful to understand how does it has been working.

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Conclusions

GoChain can change the cryptocurrency world, it's making a difference. Offers several benefits, that are really attractive, like be descentralized, faster and greener. This plataform can conect the commercial sector around the world with it's blockchain, smart contracts and business benefits. Finally GoChain it's an amazing option to everyone that want to be in the cryptocurrency world.

Check this video for more information