Yes, GoChain stands among all the other platforms which are produced from the Ethereum open-source code. But the question is how we can approve that GoChain is really different from the rest of the other platforms that are currently in the blockchain business which are linked with Ethereum.
First let's have a look at how GoChain is described by itself.
GoChain is a blockchain platform which is created from the open-source code of Ethereum. But the point we have to identify is it came with betterment to Ethereum. It mainly targeted at the specific task to solve the scaling problem.
Let me explain what is the problem with other Ethereum platforms, and the benefit of GoChain.
Ethereum and its based platforms are limited to make 13 transactions per second. As the market trade increases day by day, it automatically takes a lot of time for transactions. GoChain solves this, that's why it is different.
How Does GoChain Solve the Problems in Other Platforms?
GoChain works with the component called Proof of Reputation, its short form PoR. It can do 1300 transactions per second while other platforms do 13 transactions only per second!
Majority of Ethereum mining is happening around China with 4 companies, and when it goes to government privatization or in company collusion, 51% of attacks would happen.
According to the GoChain, it works with authorized companies all around the world, not just a country. Presently it aimed at 50 companies as nodes. And they do proper care of those companies by verifying their brand, trade in public, and the value. These nodes are working as auto-verified nodes when transactions are happening. It automatically speeds up the transactions and trustworthy due to the GoChain's selection process of those companies. And its transaction fee is 7500 times lesser.
What are the benefits of working with companies from different countries?
Just imagine, "What if all companies that are working as nodes are from same country?". It would be okay, but one government can manage them, and can limit them, or do any action that is non favorable.
But if those companies are from different countries, one government cannot apply its authority on the blockchain. So no one would interfere to control the GoChain. It could be stable.
What if any one of those 50 companies does try to cheat?
Firstly, GoChain doesn't blindly choose those companies to its nodes. It properly verify certain company's reputation, trade history in the public, and brand. So usually cheating might not happen.
If happen, for example, Company A cheats the system when it is being worked as a node, it doesn't mean it cheats only the GoChain, it means it cheats itself and all the world will turn against it and the company will be out even if it escapes GoChain punishment!
Is GoChain PoR component only for itself, and what about other platforms and DApps in Ethereum?
No, any other crypto platform can easily implement GoChain to make the transactions more fast and flexible with the PoR smart contract, and it is without a line of writing code. So all other platform can use GoChain for faster and secured transactions.
What are the last words about GoChain?
Simple. GoChain will be implemented by many other platforms of Ethereum based apps. It is 10× more decentralized, 100× speed, 1000× greener.
In conclusion, speed, security, and cheap fees are the major 3 reasons to GoChain becomes the future in blockchain networking.
Also visit GoChain's site: GoChain
Note: All the text and images are my own (@r-k-m).
I posted this article under the contest of GoChain:
https://steemit.com/crypto/@originalworks/640-steem-sponsored-writing-contest-gochain
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