In recent years we have seen an innovation in the digital world, new ideas and tools that reach the market allow us to improve and clarify our own economic system, however, these ideas create panic and confusion in the public because they are not familiar with the new concepts

Today we see how the world of cryptocurrency grows exponentially with more than 1000 coins in the market, despite the presence of many questions and questions. The blockchain is the technology of virtual currency, a gigantic book of accounts in which records of different transactions are linked to protect the security of transactions, goes beyond the operations with cryptocurrencies, insurance, sectors such as food and even the local area is using it.

Bitcoin and Ethereum are the best known and most used virtual currencies, they are used to buy, pay or as a store of value, their values ​​move directly among their participants without having to go through an intermediary or financial institution, however, they are presenting serious problems and we see how it is necessary to incorporate new projects that give important solutions to this virtual world.

Investing in Bitcoin and Ethereum the most important blockchain chain projects can be an excellent idea because they are the currencies with the greatest potential. Currently the cryptocurrency platform Ethereum and Bitcoin, recognizes that they are being affected due to the constant growth of demand. The need to update the computer system requires the greatest influx of negotiations based on time, in addition to presenting problems of centralization, costs associated with mining and the main risk related to security. Now we can talk a little about each one:

• Transaction time: The problem occurs when there are too many transactions due to the increase in prices and this makes things move slowly. The number of transactions in the Bitcoin blockchain is really large and transactions with the standard network can take a long time.

• Centralization: The cryptocurrency mining is centralized and this generates serious problems. There are currently massive Bitcoin mining operations in China due to the low cost of electricity, using specialized hardware that drives the difficulty in the mining network, the more difficult it is to bring the mining network to record levels, the greater the centralization.

• Costs associated with mining: To mine we can use our home computer as we add powerful cards , however we must take into account some aspects such as: price of the components required for this, duration of the components and the price of electricity, which, in addition to being costly, the excessive use of this one against human health, increases the contamination of birds and insects and modifies natural processes, which affects the environment as such.

• Security: Some applications that use Ethereum have had security vulnerabilities that have been exploited by hackers to make huge sums, they have resorted to forks to return money to their owners, which has put in doubt the capacity of Ethereum.

GoChain is a next-generation decentralized application platform and cryptographic currency that is compatible with absolutely all decentralized applications, smart contracts and any other code that runs on Ethereum blockchain, with the most advanced smart contract capability. It can be said that it is a modern Ethereum, newer, faster and very ecological.

Main Advantages of GoChain

• 10 times more decentralized than others: It has nodes identified in 50 different countries led by several companies, which indicates that centralized manipulation will be impossible. The reputation test (POR) is what GoChain will use to confirm its transactions instead of using consensus, the work test (POW) that led to 70-80% of Bitcoin and Ethereum mining being controlled by miners Chinese This monopolization was due to extreme decentralization. The consensus of POR may seem a step back towards centralization, but GoChain sees it as a necessary intermediate growth.

• 100 times faster than others: GoChainenables smart contracts and distributed applications. It is based on an improved Ethereum code base that solves the scaling problem with immediacy. They currently have a test network with the capacity of more than 1300 transactions per second in progress with stability and has been running over 2400 transactions per second. Increasing its speed by 100 times, Ethereum will be able to regain the trust of its customers and plan its growth along with the technologies.

• 1000 times more ecological than others: GoChain is a green block chain that will attract a lot of media attention because it consumes little energy and this is a good point of commercialization. The amount of electricity consumed in the Ethereum and Bitcoin mines is very large and this creates great concern for environmentalists.

Other advantages

While it is true that the Ethereum block chain presents scalability problems where each node must process an individual transaction which makes it more difficult to carry out the processes. GoChain comes to solve these problems of the Ethereum network, however there are other projects such as Eos and Neo that are described as potential to also address this weakness.

It should also be noted that the energy used to run the Bitcoin and Ethereum network is very high. On the other hand, GoChain is a chain of blocks that consumes much less energy, which will attract more benefits to marketing.

My opinion

Source of images

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More Information & Resources:

GoChain Website
GoChain WhitePaper
GoChain Telegram
GoChain Telegram Announcement
GoChain GitHub
GoChain Reddit
GoChain BitcoinTalk
GoChain Twitter
GoChain Facebook
GoChain Medium
https://oracletimes.com/eos-vs-neo-best-crypto-compete-in-platforms-and-potential/
https://forocoin.net/threads/que-es-gochain-go-cadena-de-bloques-inteligente.3263/
Ethereum
Bitcoin

By @norkamoran

gochain2018