GoChain, a solution to blockchain transaction problems
The blockchain technology has been a solution provider to various systems of the world, starting with bitcoins that changed the entire idea of currency systems, ethereum and the likes.
Decentralized blockchains has most often solved problems challenging human beings and has been in one way or the other an answer to the heart cry of many world-wide.
Therefore, there arises a need to checkmate the Blockchain technology for problems and matters arising within the system and quickly profer sustainable solutions to such challenges.
Generally, one of such problems affecting blockchain technology, is the issues of DELAYED TRANSACTIONS. Bitcoin had issues with delayed transactions, which ethereum blockchain tried to solve with the introduction of Gwei and Gas to hasten transactions, but that didn't fully solve the problem.
THE NEW SOLUTION GoChain
GoChain is a decentralized Cryptocurrency and Blockchain which is aimed at producing transactions that are 100x faster than ethereum blockchain and 1000x more efficient and in a more dcentralized means
The GoChain Blockchain plans to utilize the Proof Of Reputation Algorithm, which is an improved version of Proof Of Authenticity to ensure decentralization of blockchain transactions.
GoChain Team has put plans in place to ensure the scalability of their idea and it has passed the test, the decentralization of Proof Of Reputation algorith is made in such a way that all companies involved in confirming the transactions, would span over 50 countries worldwide.
GoChain Team has explicitly illustrated the solution to blockchain problems in 3 basic ways:
'' Reduced Energy Consumption:
GoChain will be 1000 times more energy efficient. energy consumption has been the greatest challenges of transactions in the blockchain technology.
increased Speed of transactions:
GoChain Team plans to create Transaction with speeds of 100 times than normal Ethereum transactions. This will allow GoChain to not only improve existing services but also enable new types of projects moving forward.
Decentralization:
Using the Proof Of Reputation Algorithm, transaction done with GoChain would be more decentralized.
For more information about GoChain blockchain you can go to their website, or follow any of the links below.
This is a Run-Down of GoChain Road Map
The GoChain Team is highlighted below
GoChain is targetted as increasing blockchain transaction by the speed of light.
This is my entry to Original Works GoChain Writing Contest
gochain2018
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Good luck in the contest, this project should be of great help for the ethereum developers that need faster transactions.
Cheers!