GOCHAIN: A Better Blockchain and Cryptocurrency
Hello guys, hope we have been good, today i made some designs and a fast animation for a relatively new blockchain project known as GOCHAIN, but before we get to the designs, i normally like to tell you what they are all about. All the designs are my original designs
WHAT IS GOCHAIN
Unlike the usual 2d animation i normally make, below is a high definition animation i made for Gochain, it took some time but i got it done, i hope you like it.
GoChain is a scalable, high performance, low cost, and decentralized cryptocurrency and blockchain that supports smart contracts and distributed applications.
Realizing a functional platform, 100% compatible with the ecosystem of the ethereum, existing projects can easily migrate and safely, this is done without having to modify any line of code, without having to update anything, this transition is designed for the problematic part of ethereum and so it was designed, giving answers to each problem to achieve a functional ecosystem in which migration is fast and safe for its users.
Gochain is not another project out there, they intend to fix issues on the ethereum blockchain.
Now what are the issues they intend to fix
One of the pillars of blockchain technology is its decentralized nature. However its well known that proof of work in its current state is far away from decentralized, because almost all mining is done in 4 companies in China. Proof of work is very costly energy-wise since miners have to perform complex computation inorder to verify block.
Ethereum runs around 13 transactions per second. Gochain currently have about 50 authoritative nodes with transactions speed of 1300 transactions per second with minimum energy consumption compared to ethereum
Gochain introduced POR (Proof of Reputation) which in this case is a higher standard of POA (Proof of Authority). In Now POA works great for private chains, but to adjust it for public, POR is introduced. This means that to become a trusted node, its important the company has enough reputation.
Gochain is an ethereum fork where people can run their smart contracts and ethereum wallets and tool on. Gochain claims that they will still be compatible even after the ethereum scaling improvement or a proof of stake.
Some other designs that shows the goals of Gochain is below.
The 'GO' formed from the bicycle wheels above represents the speed of gochain's transactions while the chain which is strength signifies a stronger cryptocurrency
Guys i hope you enjoyed the designs and GOCHAIN
For more information
Visit the links below
TELEGRAM
GITHUB
BITCOINTALK
MEDIUM
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