Is it the next big thing?
GoChain claims to be smarter, better, faster, and stronger than (presumably) Ethereum. If you have been reading my posts. You already know that I'm looking for ICOs with working models. I'm not looking at ICOs that offer only ideas. The long-term plan for execution is extremely important for a project to be successful. With that being said, GoChain already have a prototype.
What is GOChain?
GoChain is a scalable ERC20 smart contract blockchain. It is fast, secure and green so it requires much less energy for it to operate. It enables decentralized applications to be built on it. Smart contract developers can then lift and shift from Ethereum to GoChain and they're claiming that the going to have a hundred times increase in performance. This is not just a claim but it has been tested. In fact, by the fourth quarter of this year, they’re going to create a next-generation DAPP (decentralized application platform). They are going beyond Ethereum smart contracts.
10X More Decentralized
More than 70% of mining is in China and it's run by major companies like Bitmain and the likes which are huge companies. That’s why they can control the market thing. They control at least, the mining aspect. GoChain forces nodes to be in different countries. They are not going to have the same problems. -Not dependent on only a few major companies. So, you know, if they close down one day, many problems would emerge. That's their main aim. -To force nodes in different countries to be run by unrelated people and different companies so it's ten times more decentralized.
100X Faster
Right now, Ethereum can only process 13 transactions per second but Go Chain says they can do a hundred times more. - That makes 1300 transactions per second! They have a testnet and they have tested that.
1000X Greener
Many people don’t really care about this but if you think about how much energy (in the form of electricity) they use, they use an awful lot. -To the point that Ethereum energy consumption could even exceed that of a million households’. With that being said, being greener makes a positive impact to the environment and everybody else. Less consumption, less expenses! It’s a thousand times greener because it’s designed to use only a fraction of the energy used by other cryptocurrencies.
A Complete Roadmap
Their proof of concept is complete. They have actually implemented part of it already, including the testnet. It’s available for review prior to the opening of the public sale on April 1st.They already have nodes around the world supporting 1300 transactions per second. -That’s really huge. They are planning to go full-scale by 2019.
Token Data/Metrics
They have a total supply of 1 billion tokens. Their soft cap is 2500ETH and the hard cap is 26,500. Approximately 50,000 tokens will be generated per year for authorized nodes. This will decrease over time. They are going to sell only 50% of the tokens. The team is going to get 24 months lockup. They are only going to get 10%. The partners’ tokens (6%) will be on 6 months lockup so they can’t sell it right away. There is 10% for a foundation, market and legal expenses, 4%. The reserve (locked up for 12 months) is 10% and finally, Go Chain fund will get 10% in order to get the project off the ground.
The Team
Jason Dekker, the CEO, seems to be the obvious brain behind this project. He is a serial entrepreneur, former hedge fund manager (managing in excess of $250 M), board member, angel investor, and advisor with an exit to a public company. He also has extensive C-level experience in finance, tech, biotech, and the food & beverage industries. I’m confident that if he’s indeed the brain behind this project, this project is going to go places.
Chavis Reeder, the Chief Software Architect, is also a superstar! Travis holds a Bachelor's degree in Computer Science. He has over 20 years of experience developing high-throughput, high scale applications and cloud services. He’s a founder of a few successful technology companies. He has also raised tens of millions in funds from some of the top VC companies in Silicon Valley. He solved scaling and delivering problems in scalable services for his whole career. He is now applying the knowledge and experience he gained to blockchain technology.
From number one and two in the team, I’m already confident that they’re uniquely qualified to solve Ethereum’s problems. It’s basically an all-star team. You can also check the advisers on your own to make sure they have the qualifications you prefer for this project.
According to their plan, in May, they are going to be 100 times faster than Ethereum. If this project gets executed correctly, they will beat EOS, Cardano and many others. If it becomes a hundred times faster, and they’ve already tested it. You can check the results below.
Image Source
I think I have already highlighted the important aspects that I have reviewed on this project. You can view the white paper here
As usual, I’m not your financial advisor. I just shared my opinion and thoughts about this project and you want to do your own research before investing in anything.
Please check Gochain Blog Posted By 
https://steemit.com/crypto/@originalworks/180-steem-40-bonuses-sponsored-writing-contest-gochain
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