Hi guy
I am very convinced that blockchain technology and cryptocurrencies are still in their infancy.They are still growing and have got more yet to come.We had already seen alot of cryptocurrencies and some consesus of alogarithims such as PoW, PoA etc and how they work.Now we are about to experience a new and better consesus of alogarithim- Proof of Reputation(POR)brought by a better cryptocurrency - GoChain.
Gochain is a scalable,high performance, low cost and decentralized cryptocurrency, and blockchain that supports smart contracts and distributed applications.
It has an earnest attention to make blockchain, cryptocurrencies and smart contracts uses to be revolutionary and disruptives to almost every industry and institution imaginable.In order to make this vision into reality , it has come up with solution of three main existing problems
within blockchain which hinder its revolutionary power. These problems are scalability, real decentralization and higher energy consumption others are speed and security
The promise of a truly decentralized network and the currently reality are two dramatically different things. At the time of this writing 4 companies in China account for 70-80% of all the mining activity for all the major coins/tokens including Ethereum. That is about as far from true decentralization as you can get.
For the case of Ethereum scalling problems, all Ethereum users will be able to stransfer to GoChainnetwork without any friction or making changes of the code, and will get:
For other normal case, the solution is changing consesus alogarithm from Proof of work(POW) to Proof of Reputation(POR).POR is an advanced and more secure form of Proof of Authority(POA) which plan to use 50 companies in 50 different countries as transactions block validators, unlike previous consesus which use private network and some individuals.
By using POR , GoChain will be able to provide real decentralization, scalabilty, more security, more speed and decrease energy utilization.
For more information and ongoing activities, please visit the GoChain community and sources.
GoChain Website
White paper
Telegram
Github
Bitcointalk
Facebook
Twitter
I congratulate the GoChain team for coming up with the whole idea of solving the existing problems within current blockchain and improving it on the most needed ways for now and the future.
The post is my submission to this >> writing contest
gochain2018
