GoChain is the answer to the slowness in transactions of decentralized systems in Ethereum platforms. GoChain exceeds in speed and volumes in its transactions, decentralization and power consumption to some modern blockchain network systems.
Its mission is to provide a low-cost and efficient energy platform for digital currencies, smart contracts and decentralized mobile applications.
With the introduction of the new consensus algorithm called POR (Proof of Reputation), GoChain solves the problems of speed / volume of transactions, greater decentralization and lower energy. Succeeding to process 1300 transactions per second. Ethereum uses instead the known POW (Proof of Work).
One problem with the POW algorithm is that when most of the cryptocurrency miners are in the same country, they are affected by government policies, collaboration and collusion. Not being as decentralized as we could be.
With POR (Proof of Reputation), it works assigning companies as authorized signers. GoChain intends that 50 companies around the world act as nodes and in this way prevent governments from interacting and exerting influence over these companies.
GoChain offers compatibility with all Ethereum Dapp systems. This allows you to migrate your applications to GoChain which is 100x faster in your transactions and with costs 7500x lower than those of Ethereum.
Gochain will allow companies with a feature to update their code and give them the freedom to decide how they want to do it. This is an innovation for companies that will decide which method to use to update the code through consensus or prior agreements within companies. Creating and giving this function the freedom for companies to decide what is most convenient for them.
GoChain has demonstrated that it is here to stay and innovate, that it is a competitive and solid platform in the area of cryptocurrencies, providing with its token a financially stable currency compatible with the entire Ethereum ecosystem.
GoChain is an innovative project that solves important problems in the blockchain with respect to three important points such as the speed and volumes in the transactions, greater and real decentralization and energy saving that are measurable within the platforms compatible with Ethereum. Finally, it solves efficiently, safely and cheaply its incorporation into the Ethereum ecosystem.
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