Most of times, the fear of going into the cryptocurrency business is more of the times not an inviting ideal when it comes to most people minds especially those situated in the african continent. The big question is why? The reason for this?. From research past, it was found that most of them have issues in understanding the business, how to purchase such currencies with ease, how to sell them,at what can they transact this process, and above all what platform (trusted and reliable) can they use for this transactions.
This is where a platform built with trust, reliability, self-confidence comes in place. A platfrom on the blockchain network that is fast, stronger, ready to stand the test of time, of high performance, and most importantly user friendly. Here comes the platform THE GoChain.
Now , the big question is what is this GoChain all about?
WHAT IS GoChain?
GoChain is a network in the blockchain which is a scalable , high performance , low cost , and decentralised cryptocurrency using a smart contract for it 's operations. It is a platform which mission is to provide a scalable, low cost, energy efficient platform for digital currency and decentralized applications.
What are the key features of the GoChain?
Decentralize: The GoChain platform ensures no one company or government can control it. However, in practice most mining has moved to China where electricity is cheapest [26], [27]. 75% of all blocks are mined by large Chinese mining companies. This is true of Bitcoin, Bitcoin Cash, Ethereum and top cryptocurrencies. with the advent of the decentralization network, user are assured of their sefl -service since it is not controlled by a single entity(centralization).
source. Gochain whitepaper
RIGID CONTRACT: This feature has a key role to play in the GoChain platform. This is what makes transactions that are made on the GoChain platform secure. it makes use of the "smart contract". "These smart contracts allow users to write small, unmodifiable programs that ensure all involved parties are committed to a set of rules with absolute certainty". These contracts are however not extremely not all smart. They are contracts which involved parties do not have the ability to adjust set down rules as in the real world such examples are price rates bargain or negotiations, the maximum limit trnsferrable e.t .c . Also this eliminate a third party which invaribly reduces cost.
PROOF OF REPUTATION(POR)
The POR is the main component of how GoChain works . It is that which differentiate it's platform performance from others. It does not relies on the computing power as the PROOF OF WORK(POW) to process transaction such as Ethereum.GoChain solves the issues of the Ethereum miners which have problem of congestation or transaction process due to the fact that most miners are centered around china, which might increase the likehood of governmental activities.
The POR works by assinging companies as an authorized signers in different parts of the world as nodes. With this, the problem encoutered will therefore be solved.
THE ETHEREUM DApp Compatibility
GoChain offers compatibility for existing DApp developers and companies on Ethereum. How does it achieve this?
GoChain set the platform in such a way that developers having issues with their Ethereum DApp can easily migrate their applications without much stress and very fast to a 100x transaction speeds. This makes the GoChain capable of processimg many transactions at a go (1300 tps compare to the old traditional way). The GoChain also makes the fee 7500x less expensive than Ethereum giving Developers the chance to run their transactions at a low cost . All thanks to GoChain 😉
GoChain Flexibility.
Fexibility is something that most user finds interesting. just as a customer will always ask,how fexible can this be? Yes GoChain aim is to have a real mass adoption om the blockchain network in a large scale and by so doing, it intends to make it's platform a flexible one.
Now when we say flexible, How does it work?
The GoChain intend to add features that will support companies ,developers to update their codes ,fix bugs even when it has been lauched without performing anything along the lines of a hard fork. It also gives the companies the room to decide on what method thatbis suitable for them to change their codes.
USER CASE
With Gochain, one has all it needs to make transaction s on the blockchain network at a faster, stronger,low cost . An example , Mr.Tony owns a company. He wants to base most of his transactions on cryptobasis,but he has one big change ? and that is what paltform can he use?
So a friendof his told him about a platform called Gochain. He explain every details of it to him snd heit looked promising to him. so he decide to make use of the Gochain platform . He did alot of transactions at a very low cost and fast rates. he was so happy that he could save some since there was no third party man involved. Ever since then ,he has been using Gochain for this companies transactions and he also inteoduced it to his customers and friends.
The Gochain Token
The Gochain token is still on the platform . Below is the token distributions
What are the benefits of existing crypto companies being able to easily transfer from the Ethereum network to Gochain?
Thers are many benefits for such transactions to occur. The benefits are, a situation in which there is congestion at the Ethereum Network, been able to transfer to the Gochain,it will be able to avoid such congestions. Also companies have the benefits of a decentralized network system, a faster, high performance , and a low cost service . What a wonderful benefits.Thanks Gochain👍
What is the potential impact of 100x speed and 7500x cheaper transaction fees?
The possible potential impact the 100x speed and 7500x fee would have are thatsuch transactions would be done in seconds and at a cheaper fee rates compare to the Ethereum.
How does giving companies the ability to change their code open the doors for more businesses to get aboard?
Just as a lecturer would give his or her students an open book test or exam or just as some one is given a blank cheque, that is what happen when there is flexiblity. This great changes in the codes(flexible) will draw more companies to the blockchain network since it can give them such permission to ulter codes if it make mistakes even when it has been lauched.
Why is it important to cater blockchain technology to the commercial sectors such that they can easily integrate?
This is important because it is one of the best market strategies that it can use to achieve it mass afoption. This commercial companies as we all know have great access to a large number of users out there.
How does GoChain promote mass adoption of cryptocurrencies?
Gochain will promote mass adoption of cryptocurrency by making use of it compabilities ,flexibility and it's key component POR.It will achieve this by targeting the right audience out there and also through partnership with commercial companies and app developers.
MEET THE TEAM
MEET THE ADVISORS
THE ROAD MAP
CONCULSION
Well with this breif summary of mine, i can really say that the problems facing the Ethereum network has really come to an end. Gochain all the way
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gochain2018