Gochain: Speed like never before, on the blockchain

akb0802 (40)in #cryptocurrency • 6 years ago

GoChain is looking to tackle the problems Ethereum blockchain faces, and improve on them. Some of these problems are:

Transaction Fees
Energy Usage
Transaction speed.

Ethereum is the foundation on which decentralized Applications are built. Users are affected by transaction time/speed, and costs, as it stands now

Transaction Fees: Transaction fees on Ethereum are unrealistic sometimes, and they are prone to fluctuations. When transaction fees are high, it becomes a problem because it deters some people from coming on board, and also chases away some users. This also affects businesses, seeing the fees involved are not steady.

With GoChain, transaction fees are greatly reduced. Infact, being Gochain based ensures that transaction fees are 7500x cheaper than what is currently obtainable on Ethereum. Seeing GoChain can handle processing 100x the amount of Ethereum, prices will not need to be raised. In that case, being GoChain based will be 15,000-30,000 times cheaper, than on Ethereum!

GoChain ensures that companies on the blockchain can deploy more efficient applications, and give their users greater value and flexibility
These speeds will ensure that onchain businesses become more efficient, and can scale rapidly. They will have a big reason to adopt GoChain. It should also be noted that Gochain has a very easy process to migrate to their ecosystem. This will also help to increase adoption, because businesses put their customers first, and won’t want to experience any downtime, or loss or information while carrying out migration.
It’s a solution built on Ethereum, and it is compatible with all Ethereum wallets and development tools.

Energy Usage: GoChain doesn’t support mining, so it uses less energy when compared to Ethereum.

Transaction Speed: As said earlier, Ethereum can only process 13 TPS, whereas GoChain processes 1300 TPS, and can go as high as 2400 TPS. This shows that GoChain is at least, 100x faster than Ethereum blockchain.

As progress is made, more crypto companies will move to GoChain, and traditional businesses will be eager to come onchain as well, leading to the leap in value of cryptocurrencies and the growth of the industry.

At the end of the day, all that truly matters is user satisfaction-getting real value

SELECTION OF DESIGN
I tried to show the difference and also the value Gochain bring to users, cryptocurrencies and the blockchain. The best way to to that is via visual aids.

FOR MORE INFORMATION & RESOURCES: