GoChain. The Blockchain of our dreams

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Some terms and problems

Scalability: It is the ability of a network to increase the number of transactions per second. It is said that a network has scalability problems when it does not have the capacity to process the number of transactions that are made at a certain moment. For example, the Ethereum network, its founder Vitalik Buterin admits that it is not in the operational capacity to process more transactions per second due to the proliferation of new projects and ICO's based on the ETH network. As an extra data we can say that the ethereum network barely has the capacity to process 13 transactions per second.

Decentralization: One of the great and good characteristics of the blockchain is decentralization. That is to say, the registry of all the transactions of a network is located in several nodes, that is, the information will be supported and synchronized as many times as nodes have the network, making it more secure and robust. However, this centralization is completely digital, that is, many network nodes can be physically located in the same country, city and even in the same building.

Minning: When we talk about blockchain, the term mining comes to light. And it is nothing more than the validation of transactions and therefore the generation of blocks, bringing a reward for the validation of transactions.

Proof of Work (PoW): refers to the work done by the processors of a computer to validate transactions on a cryptocurrency platform. The problem is that it does so with high energy consumption and highly specialized hardware, which increases the costs of these validations. In addition, most of the miners look for places where electricity is a little cheaper, which results in a false decentralization (approximately 70% of the miners are physically located in China).

Proof of Stake (PoS): The validators of the network are chosen based on your participation in the network, the more token you have more valid transactions. The problem is presented in low performance, the number of transactions per second is very low. In addition, you can not have a transparency in the true interests of network validators hidden perhaps behind anonymity.

Proof of Authority (PoA): this system places validation trust in people and the level of authority they have in the network. However, it is susceptible to people being bribed or blackmailed through intimidation or physical threats, since this form requires that the validators must publish their physical address and everyone has access to such vital information. In addition, the network is vulnerable before computer attacks due to the possible inexperience of some users in terms of infrastructure and transaction processing.

THE DREAM

Have a scalable network with a high transaction capacity per second, with super speed, economic, truly decentralized, with the use of intelligent contracts, which makes it a very stable and reliable network.

The dream come true is GoChain.

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GoChain It is a blockchain network with all the features we have dreamed of, especially in terms of reliability and scalability, with very low operating costs and truly decentralized. This network supports smart contracts to give the critomy market the way to conduct transactions quickly and safely.

Proof of Reputation (PoR)

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GoChain presents a unique and revolutionary consensus model, it is Proof of Reputation (PoR), based and delegating the validation of the transactions to the nodes of the network, taking into account your reputation. This reputation must be strong enough and with great financial and brand support, to avoid any possibility of cheating or swindling the system. Specially designed for companies and larger corporations with much more at stake. Once a company demonstrates its reputation and approves verification, it can be voted on the network as an authorized node. One of the most important requirements for a company to be eligible as a node in GoChain is that it must be listed on the stock exchange, size and commercial capitalization, transparency in its normal operations, age and importance of the brand and how it is positioned in the market. There are 50 companies from several countries achieving a true decentralization and decreasing the possibility of intervention by a specific government.

Main Net

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GoChain MainNet is ready. The GoChain team worked tirelessly and achieved its goal. A stable network that can support 1300 transactions per second, 100 times more than the maximum capacity of the ethereum network. As a valuable statistic we can say that GoChain can process all the transactions so far processed in ethereum (185.436.845) but it would only take a week.

The team of GoChain did a live load test on TestNet so that members of their Telegram group could see it, it ran for 10 hours and we observed sustained transaction rates between 1100 -1500 transactions per second, which gives us a good average rate of around 1300 tx / sec.

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GoChain still has more for us.

More Scalability and more speed: We already said, GoChain showed that it has the capacity to support the increasing number of transactions of the blockchain and at an incredible speed, without no problems, 1300 transactions per second (verified).

More Decentralization: GoChain thanks to the Reputation Test (REP) transaction verification model, it can ensure and provide true decentralization, thanks to the verification and identification of the 50 corporations that will be the nodes of the platform, these will be chosen from different places and countries of the world. Against part of the false decentralization of the mining of other networks, where more than 70% of the miners are physically located in China.

More ecological: Unfortunately in Bitcoin and Ethereum mining, the energy used to operate these networks could feed more than 4.5 million households in the US. UU We believe that it is completely unacceptable and unsustainable. Thanks to GoChain it is not necessary to use a lot of electricity to generate the blocks, this network can be said to be an ecological and sustainable network over time.

More reliable: One of the best features of GoChain is the confidence it gives to be based on PoR, because everyone knows that corporations (large, important and with a good reputation) ) are keeping the network up. Then everyone (people and companies) can decide if they trust these corporations that run the nodes. And they make GoChain safe and reliable.

More economical: GoChain is very cheap compared to what other platforms charge for transactions. Because GoChain is based on Ethereum, users are charged much lower transaction fees. For example, a standard Etherum transaction is worth about 0.000042 ETH, if ETH is at $ 750, then: 0.000042 * $ 750 = $ 0.0315 (when the network is not stuck). The price of a standard transaction in GoChain would be $ 0.0000042, that is, up to 7500 less than Ethereum.

More Flexibility: To make modifications, the current networks must perform something similar to a hard fork. With GoChain companies can update their code. Companies can decide previously and consensus on the method that will allow them to change the code.

More Compatibility with Ethereum DApp: GoChain offers compatibility for existing DApps in Ethereum. Migrations to GoChain would not be anything traumatic, it will not be necessary to change the code of DApps, smart contracts or ICO based on ETH, so you can directly access a 100X performance and 7500X cheaper, by switching to GoChain.

Token

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Conclusions and Final Thoughts

When we entered the world of the blockchain and began to understand terms such as block, transactions, intelligent contract, decentralization, etc. Our eyes and our minds open up in a formidable way.

We see in the blockchain the future of the world, new forms of government, of economy, of commercial and financial relations.

However, we also see how the number of people, companies, projects that add to the world of decentralized blocks is increasing. But not everything is good, just as more participants join this environment, there are also more and more demands on networks and their characteristics such as scalability, stability, speed, security, etc.

It is necessary to evolve to the next level, a level where the good of the other networks based on blockchain, is maximized and optimized. Accomplishing what started as a dream comes true. Where the limits of known networks are overdue.

This is where GoChain appears before us, as a maximized and optimized network, where it takes the good from the other networks and improves it 10x more, 100x more, 1000X more, where the concepts wonderful as decentralization applies with veracity, where invites us to join it without trauma, where our concept and lines of codes are fully compatible, is a clean transition to a new world, a new vision of the future.

[GoChain] (https://gochain.io/) is here, you decide without wanting something smart or smarter, If you want to use the good or use the better, you decide if you want to go fast or faster, if you want to be strong or stronger.

Documents and technical links

GoChain-Whitepaper
Wallet
Explorer
Network Stats
GoChain MainNet
Node Documentation
Other documents

Team

The team of GoChain is formed by a group of software engineers, business leaders, investors, founders of technology companies who have dedicated their careers to innovation and optimization of technological systems based in database, computer service and computational infrastructure, with high knowledge of the world of the blockchain. Which enables him to carry out this important project.

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Roapmap

More information and resources.

• GoChain Website
• GoChain WhitePaper
• GoChain Telegram
• GoChain Telegram Announcement
• GoChain GitHub
• GoChain Reddit
• GoChain BitcoinTalk
• GoChain Twitter
• GoChain Facebook
• GoChain Medium

This contest is sponsored by @originalworks, to know more about this you can look for information in this Link

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