GoChain.... Or blockhain 3.0?

in #crypto6 years ago

INTRODUCING GOCHAIN BRIEFLY

When Ethereum came on the scene, it was expected that slow transaction speeds would be improved upon. Indeed, there was an improvement. It just wasn’t good enough, seeing this is the industry standard.

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GoChain is a platform built on Ethereum and supports all Ethereum applications and wallets. The idea behind GoChain is very simple; How can we make Ethereum much more better?

Transaction speed, scalability issues, energy consumption, and cost involved and a shift towards centralization, in a decentralized ecosystem, are some of the issues plaguing the cryptocurrency sector.

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Transaction speeds of Ethereum stand at thirteen transactions per second. Currently, GoChain processes 1300+ transactions per second, and is poised to get that up to 13000+ transactions per second in 2019.

GoChain is currently the only market ready solution that is looking to tackle these issues. It doesn’t just tackle the problem this way; there is more.

GoChain uses a Proof of Reputation (POR) model rather than a Proof of Work (POW), to tackle the problem of a few players controlling a greater stake in the industry.

In the initial phase, 50 companies would be selected in 50 different countries to avoid a scenario such as was described it the previous paragraph. It will also act as a foil to a government taking over majority of the ecosystem.

GoChain would also use less energy to remain operational. This would actually translate to being a thousand times more efficient energy wise, compared to Ethereum.

Transfer of Ethereum applications and wallets is done seamlessly, therefore there is a zero percent chance of data loss.

Just as there was a need to evolve in 2015, there is a void once again that GoChain is looking to fill. Nature abhors vacuum, and innovative solutions would always outshine their counterparts. It’s left to see where GoChain goes from here.


Road Map
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The Team

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To follow developments and learn more:

GoChain Website

GoChain WhitePaper

GoChain on Twitter

GoChain on Facebook

https://steemit.com/crypto/@originalworks/180-steem-40-bonuses-sponsored-writing-contest-gochain

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