Communication is the process of exchange or transmission of meaningful information, opinion, ideas, and feelings from one person to another or from one place to another. It is a two-way traffic which involves sending and receiving a message.
I remember the story I read when I was 10years about Pheidippides (530-490 BC) the fastest runner in Athens at that time who was sent to deliver an emergency message in Sparta. I remember reading that Pheidippides ran a distance of about 3000km in 3 days and that made news at that time. Probably the severity of the 'emergency' didn’t warrant the need for speed at that time.
I am pretty sure after this incident, mankind saw the need to upgrade the means of communication and transportation as evident from the forms of transportation in vogue today (cars, ships, airplane etc. Necessity is truly the mother of invention after all.
But the communication sector still faced a lot of challenges in transcending from courier services, postal services to the latest internet services due to the poor knowledge about the internet and computers at that time, with the wide adoption of the World Wide Web, these problems began to phase out. The greatest revolution for the communication sector happened when blockchain was discovered by Satoshi. (This was widely embraced at that time)
The blockchain developed by Satoshi also witnessed some revolutions, one of those revolutions was the upgrade Vitalik Buterin did when he created the etherum blockchain.Etherum blew away the mind of the crypto world. Unlike the blockchain where a maximum of 4-7 transactions per second was performed, Vitalik upgraded etherum to perform up to 13-20 transactions per second( this was mind-blowing at that time, lol ). Yet this did now solve the problem of scalability (the potential to scale up to a million transactions per second) hehehe Until GoChain came on board.
GoChain, a standalone blockchain promises to improve on the scalability problems Vitalik overlooked. A cursory look at their white paper reveals that they made the following.
- 10 x more decentralization.
- 100 x increases in speed.
- 1000x improvement in energy consumption.
To achieve the decentralization, Gochain upgraded from the traditional proof of work (POW) to proof of reputation (POR) which is a more secured proof of authority. In the case of POA for GoChain, the transactions and blocks are validated by already approved accounts known as validators.(Let me pause to enable you to assimilate that)
There have been few successes in the POA usage; a few private companies have adopted it. GoChain hopes to use companies as validators because these companies would have a reputation at stake compared to individuals who have nothing to lose. In exchange for staking their identities, they are rewarded with incentives to process transactions. A company cheating would put its reputation on the line and its entire market cap.(pheeew!)
Fifty companies (venture backed (VC), VC partners, angel investors) hoped to be selected by GoChain from fifty different countries to kick-start the process of solving the validation saga.
To solve the 100x speed, GoChain hopes to switch fully to POR and deal with tons of data, The energy consumption would be decreased when the traditional POW is discarded and POR finally adopted, making GoChain live according to their promise in the white paper. The traditional POW consumes a lot of energy to mine blocks.
GoChain also allows for interoperability between Etherum and its blockchain by the introduction of a "lift & shift" algorithm. Meaning that new codes would not be required to effect the processes. One can still have their projects running effectively on both platforms.
This ability to cross-chain in order to scale faster would allow for a reduced use of energy, thereby contributing less to the depletion of the earth’s precious ozone layer.
At a 100x speed of transaction and a 7500x cheaper transaction fees, the following would happen to the crypto world.
the crypto-market would be more elastic, allowing more room for peer-to-peer value transfer, with an emerging market that is super scalable and decentralized and free from any form of monopoly.
This would create room for the creation of more dApps enabling the emergence of more global networks that would share a common goal and carry out more smart contracts.
This would bring an upgrade in the level of human civilization in the nearest decade.
Blockchain has shown us the need to take commerce to a higher level; blockchain would facilitate mass production of goods and service that can be beneficial worldwide thereby increasing the standard of living. It would also create wealth for nations in the long run.
The team behind Gochain is made up of Jason Dekker the CEO, he is an entrepreneur with an extensive C-level experience in finance, biotech, tech, beverage industry etc., his other team members are Travis Reeder (the chief software Architect), Ben Johnson ( software Engineer). According to the roadmap, they have fulfilled all that they proposed in the Q1 and Q2.
Still having problems with scaling huge transactions on etherum? Why not give Gochain a chance to send your huge transactions on a go at a faster speed, more secured and efficient way and let them worry about the scaling issues. Of course, you get to pay less for these great services.
If you still have doubts and want to read more about GoChain Check out, their website .
If interested in how Gochain works and its technical details, you will find useful information in the Whitepaper
If you love to watch a video about Gochain, this YoutubeVideo should come in handy for you.
And if you want to get into contact with them, feel free to visit their Telegram, Reddit , Twitter, Facebook ,and BitCoinTalk
Here is a video I made about, I hope it answers gives you an insight.
- In case you still have a question about this project, feel free to drop a message and I will try to answer to the best of my knowledge
This is my entry for 
gochain2018