Number of transaction speeds up as more traffic in block chain now
GoChain:
All the block chain networks are based on ethereum (ETH). Network’s scalability can be judged by number of transactions per second of ETH. Currently number of transactions per second for ethereum is 13/second. As compare to number of users in block chain network, this result is very slow which can affect the network’s scalability. GoChain is the network which solves these issues of block chain networks providing their on algorithm.
Proof of Reputation:
GoChain works on the algorithm of POR, because of which number of transactions goes to 1300 transactions per second. While other networks works on proof of work, which depends on the processing power of network. GoChain is 100x faster than other networks. For this large amount of transactions, proof of reputation algorithm works by assigning different companies as their authorizers. GoChain is aiming to have at least 50 authorized companies from different countries which will work as a node. Distributing these nodes all over the globe will lessen the chance of government interaction for taxes and other government charges. It will totally work as a public network.
While making any company as their node, GoChain uses some criteria to identify their reputation.
1) How much audience this company is targeting? This shows how much that company is known to people.
2) Do this company trades publically? This can identify that the company have a certain transparency level among their people.
DApps Compatibility:
GoChain is also compatible with existing Dapps for ETH. Anyone can migrate their application on these DApps because of this, DApps working with slow networks can be speed up to utilize high speed transactions. GoChain is 100x faster than other networks. Also their transaction fee is very lower than ETH. Flexible Network as compare to other networks: After launching their application codes on network, other network do not allow changing anything in the code. So they require other accounts to launch their new edited codes. While GoChain always allows developers to change their codes to experience new changes.
SUMMARY:
GoChain is the network which works on proof of reputation algorithm, which allows 1300 transactions per second as compare to other networks which is allowing 13 transactions per second. According to increasing users daily on block chain network, network like GoChain was needed. GoChain is also flexible as compare to other as it allows changes at any time in your codes while others don’t. GoChain is faster than others and their transaction fee is less than other ETH networks.
GoChain Road Map and MainNet:
GoChain MainNet is live now on https://gochain.io/ Also you can view their road map on their website.
List of Nodes:
This picture is taken from their website as it is showing their current stats. You can approach it on this link
For more information, watch this short video
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My pick
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