GoChain is a new generation platform for intelligent contracts, and an intelligent contract is defined as "A computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible. "
GoChain contains an improved version of the Ethereum base code that allows them to solve scaling problems immediately and which means an increase in the number of transactions per second that can be processed and in GoChain's own words "We currently have a working TestNet showing in excess of 1300 transactions per second ongoing with stability and has been running as high as 2400 transactions per second "and it must be taken into account that this is the highest number of transactions that has been possible to obtain.
And the second importan thing only GoChain has is the PoR or Proof-of-Reputation an improved version of the PoA or Proof-of-Authority which the explanation given by GoChain is "A participant must have a reputation that is important enough that they would face dire if they were to cheat the system-in both financial terms and branding. Most people would have serious consequences if they were caught cheating a financial network. Larger companies with more to lose will be chosen over smaller companies with less to lose. Eleven a company proves reputation, they can be voted into the network as an authoritative node and at this point, it operates just like a Proof of Authority network (PoA). Only authoritative nodes can sign and validate blocks. " Making the more important the company and the more it wins, it is forced to a state of total transparency, since it is forced to live by its reputation and any trap made of is total disaster for the company, and when the company reaches a point that has proven its reputation will be granted the authority to sign and validate blocks making it in a more constant surveillance.
And what is the goal of GoChain ?, is the decentralization of the network, since with only 4 companies in China they control 70% -80% of the mining activities of the largest cryptocurrencies. What is GoChain's solution for, this is to obtain 50 companies in 50 different countries to be able to force decentralization to be called validators, which is why they do so in their own words "By spreading the validators across 50 different companies with reputations at stake it should create almost perfect decentralization and make the network very difficult to be compromised. Furthermore, by spreading the nodes geographically no one government, like the US or China, can come in and take over the network. These two considerations should deter any 51% attacks. "
ADVANTAGE:
1- Thanks to decentralization there will be more spaces for new entrepreneurs.
2- When increasing the amounts of transfers in a 100% it never finds over saturations.
3- And everything as a whole improves by 1000% in energy consumption.
DISADVANTAGE:
The punishment to small companies by not having serious sanctions.
to see for yourself go to:
https://gochain.io/
gochain2018