Gone is the era of spending hours on transfer of cryptocurrencies with Ethereum which only work with 13 transactions with high cost. Gochain is here with a new and better era of blockchain networking which is 100 times faster by offering a Ransom of 1300 transactions within one second unlike the existing networks like Ethereum which is only capable of working on 13 transactions within a second. The amount of transaction Ethereum can process within a second has been a major set back on Dapps built on existing networks and considered to be slow.
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In order to make life easier for network users, Gochain came on board to give every network user 100 times the speed of the best existing network (Ethereum) before the existence of Gochain. Although, Gochain is far far better than Ethereum i n all aspect, which is a good reason to make their service expensive than that of Ethereum but the reverse is the case. For Gochain transaction fees is 7500 times cheaper than Ethereum.
How is Gochain able to achieve this improved era of blockchain networking?
After a lot of research on how to give network users a convenient reliable, faster and cheaper network transfer, Gochain derive a superior component to POW (proof of work) used by the existing networks to process transactions to be POR(PROOF OF REPUTATION) to create solution to the partial decentralized system use by POW(PROOF OF WORK). For Ethereum is heavily centered around China and this increases the likelihood of government to have a say in their affairs. But Gochain is here with complete decentralized network by having 50 companies from different countries to act as nodes to minimize governmental interference.
How did Gochain choose their node companies?
In order to achieve a decentralized network, these are the criteria Gochain uses to select their node companies
- Transparency: since the motive of Gochain is to create decentralized network, only government obligated companies are put into consideration.
- The scale of the company: how big is the company? How effective and productive is the company? What is the market capacity of the company? These are also put into consideration by Gochain
- How did the company value her reputation?: only a company that cares about her reputation is capable of being a transparent one.
Did you have any intention to make your company one of the nodes of Gochain please click here.
Features of P.O.R (proof of reputation) which makes it superceed existing networks.
- it processes transactions 100 times faster than proof of work, which gives network users super fast transaction.
- it saves time compared to proof of work which spends several minutes to verify transactions.
- it is transparent and decentralized unlike proof of work who's 80 percent of her nodes are in China which brings avenue for government interference.
- it has large global companies as validator and the net worth of the the network is exponentially higher, which will reduce bribery and also threat unlike proof of authority.
- it maximize bugs and breaches with high level of experience and infrastructures that its nodes have to run a secured transaction.
- it is compatible with existing block chain network apps like Ethereum DApp.
- it is flexible. For it easily allow user to add additional features to it.
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What are you waiting for? Gochain is here for you and I, it is high time we joined the winning team and be victorious over the network problems we have been facing before now.
For more information about Gochain, visit the following website:
Gochain website
Gochain telegram
Gochain Explorer
Gochain whitepapper
Gochain
Gochain18GitHub
Gochain Reddit
Gochain bitcointalk
Gochain Twitter
Gochain facebook
Gochain medium
This is an originalworks writing contest sponsored by gochain. Here is the link to the contest.
https://steemit.com/crypto/@originalworks/640-steem-sponsored-writing-contest-gochain.