Meet with GoChain which is ready for a Ethereum app with speedy source

REVOLUTION OF TIME AND THINKING

From our history,an important revolution were a turning point for a bitter civilization.changes are not easy to accomplish.because there is a great resistant involved with each and every new changes.

now a days a great revolution has been taken place in the digital world.in this case rising of cryptocurrencies with blockchain like Ethereum
is improving day by day.for this case,technology gives us a way to take benefits from every work in our life.

now i am explaining about the current problems with their suitable solutions about the industry that GoChain have to offer.

PROBLEMS IN BLOCKCHAIN INDUSTRY

some points are given below.

Weaknesses of the current cryptocurrency ecosystem.
Network scalability
Transaction speed
Transaction cost
Growing centralization
Energy consumption

the important fact for blockchain which is involved with Bitcoin and Ethereum have some serious points ,if thats are not resolved then it will prevent this technology to take over the world as it's mean to be.

it is related with decentralisation which is the main distinguished qualities,cause it added a portion of lack of safety that wasn't present in the past with old ways.With decentralisation,dedicating a malicious attack which is difficult because of processing of information by computers around the world just in one place.Achieving bitter control of electronic device that maintains the Blockchain is a big job.Then it would be controlled.

When big adoption and maximum users make the transactions increasingly in a different way then the main problem is created.If there is less speed to sign the transactions,then that will come to a halt.Same thing is happened to Ethereum,cause they had a large influx of users doing transactions in the different DApps.

Another problem is a lack of proper decentralisation in the mining activities,because of a little interest,end up investing a big amount of money for mining in the same place.If farms give its big amount ended up being responsible to 50% of the mining,it would mean the project could be at risk.

Energy consumption is another problem,where people has started in that activities,on a recent report from Washington that was informed that

“As Iceland has become one of the world's prime locations for energy-hungry cryptocurrency servers — something analysts describe as a 21st-century gold-rush equivalent — the industry’s electricity demands have skyrocketed, too. For the first time, they may now exceed Icelanders’ own private energy consumption, and some energy producers fear that they won’t be able to keep up with rising demand if Iceland continues to attract new companies bidding on the success of cryptocurrency”. Source.

The future of energy efficiency of Blockchain rather than in energy intensive ones,like Bitcoin and Ethereum.

GOCHAIN'S SOLUTION.

Moving in which all of GoChain’s advantages are born, is the use of a new consensus algorithm based on the reputation of the entities that are signing the blocks, which is called Proof of Reputation.

With GoChain, there will be 50 selected companies in 50 different countries will be allowed to confirm transactions after passing verification, which will allow for a proper decentralization to take place since these companies will be all over the world, and given the fact their information will be public, they will have a lot of reasons to act in a responsible way, and do their best job for the benefit of everyone involved.

Using this new consensus algorithm reduces the energy consumed by the network and the required time to confirm transactions which by the way, with GoChain its 100 times the speed Ethereum has, all of this is possible simply because there won’t be computers all around the world competing to see who is the first one in signing a new block, there will just be the established and reputable companies, and that will make everything much smoother.

GOCHAIN'S IMPACT :

Blockchain is the new buzz word, and everyone wants their application to be future ready, with the ability to interact with this fascinating new technology. However, not everyone is prepared for this, blockchain development is so new that it's still a developing skill set, and many businesses are not quite prepared to handle this themselves by creating their own chains. They need something to build on, and at present, that application is Ethereum.

However, Ethereum has experienced some serious problems that need to be rectified quickly. The Crypto Kitties phenomena has shown that the Ethereum network is just too slow to handle main stream applications. The need to handle the huge number of micro transactions involved in this one game caused the gears of the entire network to grind to a halt, and that has made many reconsider their position on this asset.

It was previously thought by many that Ethereum would be immune to the transaction clogging that Bitcoin was experiencing, but that has been proven false. As a result, other projects have now stepped in to try to rectify this with various scaling solutions. Unfortunately, none has made it easy for the many applications already utilizing the Ethereum chain to move their operations, until now.

Go Chain wants to continue the evolution of the blockchain based application infrastructure. Their chain not only will allow for faster transaction times, but they also address some of the other key weaknesses that have popped up. They're also going to make moving to a new chain seamless for existing Ethereum applications

Any developer that was worried about the scalability issues in Ethereum, and was discouraged to rebuild the code in order for it to run on another blockchain, should have zero worries now. Because with GoChain, they will have exactly the qualities they were looking for, which are faster transactions and proper scalability.

The total compatibility with Ethereum is clearly a wise decision given the fact Ethereum is indisputable the leader of the decentralized application’s sector, and any other competitor is years behind in terms of development. Because of this, it should be relatively easy for GoChain to gain some traction in the market really quickly, people with already advanced projects using Ethereum’s blockchain will be the ones who benefit the most, and they are also the most valuable as their projects will tend to be the more polished ones.

And if all of that wasn’t enough, there is another factor to take into consideration which is the reduction in energy consumption that can not only influence others into giving support to this platform, but is also good for our civilization in general. Wasting resources is never a good nor moral thing to do, and with GoChain we have the most optimal use of resources we can fin in a blockchain project.

More Information & Resources:
GoChain Website
GoChain WhitePaper
GoChain Telegram
GoChain Telegram Announcement
GoChain GitHub
GoChain Reddit
GoChain BitcoinTalk
GoChain Twitter
GoChain Facebook
GoChain Medium
GoChain Crunchbase

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