GoChain and the new generation of blockchain and cryptocurrencies
The blockchain that we all know is only the first generation and we always knew that it would be improved, and this is possible thanks to GoChain: A much faster blockchain, with less energy expenditure and therefore much more efficient.
GoChain presents its improved version of cryptocurrencies, the GOC, which with its blockchain protocol leaves in the prehistory the other currencies and the original blockchain with bitcoin.
Unlike other icos of companies that use blockchain technology, this is public entirely compatible with Ethereum, different tools and smart contracts, which allows extremely fast execution and an incredible speed of cryptocurrency transactions, making it much higher to what Ethereum jumps and with the addition of being able to create on this blockchain all a new app platforms.
Speaking more clearly, GoChain's potential is based on its great scalability which is 100 times greater than that of Ethereum, which can only process 13 transactions per second and GoChain processes between 1,300 to 2,400 per second approximately. This great capacity that they have achieved is also done using just 1,000 times less energy than Bitcoin uses, which is enough to feed 3.5 million homes in the United States, which is the biggest problem with that cryptocurrency, since it is only It's a matter of time before your great energy expenditure ends up suffocating it, and the solution to this is GoChain's minuscule energy expenditure.
Another obejective they have is to be more decentralized than the classic "open de-centralization" which has not worked, if we understand that approximately 70 percent of the cryptocurrency mining is managed in China, and is managed by a few companies, something that has brought controversy to the world of digital currencies. GoChain with its improved network, will force the nodes to have locations in different countries (about 50) that will be managed by companies and people who have no relation to each other.
The ICO GOC
The presale began on February 8, 2018, until the 28 of that same month, and the public sale began in April, with a total of 1 billion GOC tokens, with the soft cap of the token being set at 2,500 ethereum and the hard cap being set at 26,5000 ethereum, with the annual creation of 50 million new tokens for authorized nodes.
The% 50 of the tokens will be for sale to investors,% 6 will go to advisors and partners, the% 10 to the GoChain team, the% 10 to rewards and foundation, the% 4 to marketing and legal expenses, and a % 10 is in reserve for one year, and another% 10 is part of GoChain's own fund.
But how is this possible?
Going a bit deeper into the heart of the GoChain network, what was achieved was replacing the POW algorithm with the new POR (reputation test), based on POA (authority test), and instead of using a set of individuals and the computing power of their computers, the reputations of organizations are used, which are much more at risk if the work of confirming blocks and their transactions is not done. This is called Reputation Test (POR)
This will be addressed when moving from POW to POR (reputation test), which is based on POA (authority test). With POR, instead of rethinking the power of the computer, organizations can bet their reputation.
Below are the statistics of a recent 10-hour test.
This image is a summary of the stages of GoChain:
