While scrolling blogs in steemit today, I came across @OrignalWorks writing contest with an interesting and exciting tittle ‘GoChain’. As everyone have different interests, I am obsessed with cryptocurrencies and loves to learn more about it. The topic GoChain attracted me as magnet attracts metal. So, I digged deeper into the topic and excavated some amazing piece of information.

Basically, GoChain is a modern blockchain network which solves the issues of scalability, decentralisation and much more. So, let’s get into little brief.
In revolutionising world’s economy cryptocurrency plays a vital role. Ethereum being a blockchain based operating system works with certain features including smart contract

According to GoChain Ethereum is the best cryptocurrency in the market that’s why ther are building as a starting point. Ethereum have certain issues which needs to get resolved and those are
1. Scalability
2. Decentralisation
3. Security
GoChain have come up ‘with an improved Ethereum codebase’ which will solve Ethereum’s all three problems easily.

Working of GoChain

Reasons for the limitations like slow speed, scalability etc are depended on its ability to give only 13 transactions per second. GoChain comes with a solution by providing 1300 transactions per second! Which is great. So, you must be wondering that, previously Ethereum used Proof-of-Work, Proof-of-Stake and Proof-of-Authority consensus algorithm which helped in ‘secure distributed ledger system’ but lacks in decentralisation, performance and consumes energy. So, GoChain bought Proof-of-Reputation consensus algorithm. P.O.R will use 50 nodes in 20 different countries and it will create authoritative nodes which will be reputative companies which will sign and validate blocks. So, this will make the system secure and decentralised.

What makes GoChain unique?

It’s developers off course! They are qualified to build anything to over 1 million transaction per second.

BENIFITS

1. Due to smart contract, P.O.R and using trusted nodes. The speed and volume of transaction will increase, and this will let the existing crypto companies to able to transfer easily from Ethereum network to GoChain .
2. GoChain have one billion tokens outstanding vs Ethereum’s 100 million tokens which makes the fees much cheaper.
3. As GoChain offers 100 times more transaction volume so, it will offer 100 times bigger storage, speed and performance. and is 1000 times greener.
4. It’s compatibility with Ethereum wallet, smart contracts and other tools also the ability to change code is helpful.
   

It is widely accepted by people. A popular crypto currency management app i.e. Blockfolio, have picked GoChain to be an officially supported token. Moreover, a world class blockchain asset exchange i.e. KuCoin is a hosting node on GoChain network.


Thus, it is very useful for all crypto lovers out there. you can have access on more informative about it through the below motioned link.

https://gochain.io/
gochain2018
https://steemit.com/crypto/@originalworks/640-steem-sponsored-writing-contest-gochain

This entry was created to participate in the @OriginalWorks sponsored writing contest - GoChain