GoChain - Innovating BlockChain Technology

rnunez09 (58)in #crypto • 6 years ago (edited)

GoChain, the New Change.

Cryptocurrencies are making their way into our modern era, being accepted by many and getting a spot in multiple tabloids and news on tv. Since they are becoming more "mainstream", they are gaining value in the markets of the world as an alternative to the traditional currency; every day there are more of us working on platforms with blockchain technology trying to obtain cryptocurrencies as means to generate profits, everything being supported by the trust we put on the belief that these "digital coins" will gain value in a nearby future, and of course, in the worth they have right now. It is necessary that the blockchain works efficiently in order to create trustworthiness in the investors, so that the market can grow.

GoChain is a decentralized network that is presented to solve the scalability problems of blockchain networks, increasing the speed of the transactions and expanding said scalability through a new consensus algorithm called POR (Proof of Reputation), compatible with networks such as Ethereum, smart contracts and other tools.

Why was GoChain made?

Ethereum has a major issue, currently the mining of most cryptocurrencies is carried out by a small group of companies established in China, monopolizing the production of cryptocurrencies and 70% of mining, so Ethereum has few companies that execute its mining operations, making the network not so decentralized and subject to governmental interventions, conflicts and alliances that hinder the transparency of operations.

GoChain solves the existing problems by creating a system of nodes or authorized companies scattered in various parts of the world, making a more decentralized and reliable network that is also capable of processing 1300 transactions per second. The companies that will act as nodes will be selected under strict criteria to determine their reputation (Proof of Reputation) and GoChain will start with 50 companies as nodes, ensuring excellent performance in their operations.

Many Benefits, Ensuring Excelence.

An advantage that Gochain offers is its compatibility for existing DApps in Ethereum (ETH), you can use this application without writing a single line of code, the DApps can migrate to GoChain to perform high-speed transactions and with a transaction rate much lower than ETH, it also intends to add a function that will allow companies to update their application code in the network.

The main benefits of Gochain can be summarized below:

10 times more decentralized, since it forces the nodes or authorized companies to be in different parts of the world, managed by people or unrelated companies.
100 times faster than Ethereum, since initially it will aim to make 1300 transactions per second.
1000x less energy, less consumption of electric power to execute transactions.

"Smarter, better, faster, stronger."

GoChange, a Journey to the Future.

All these advantages and alternatives of improvement offered by GoChain will have a favorable impact on the cryptocurrency market by providing businesses and users with fast, secure, transparent transactions at the best market price, as well as being friendly to the environment for its low energy consumption.

GoChain is an innovative project and its cryptocurrency will revolutionize the blockchain. I am sure that many companies and users will adopt this system. Buy your token and start enjoying all the benefits they offer.