Ever since SATASHI NAKAMOTO brought about the discovery and establishment of blockchain, there has been a fast growth of blockchain all over the world and this has brought about differs issues plaguing the modern blockchain network which are slow speed, high cost of transactions, energy deficiency in platform for digital currency and centralized applications and these are as a result of the fact that many blockchains companies are built on top of Ethereum networks which is currently limited to 13 transactions per second which in turn will cause a slow transactional speed and will also limit the availability of network as well as Dapps that are built on it, irrespective of its huge user base.
Due to this issues, Jason Decker and others came about GOCHAIN as a network that will solve this issues listed above which are major issues plaguing some of the block chain networks.
WHAT IS GOCHAIN
It is a scalable, high-performance, low cost, and decentralized cryptocurrency and blockchain that support smart contracts and distributed applications.
BENEFITS
The benefit of existing cryptocompanies to be able to transfer easily from Ethereum networks to GO CHAIN are done through a core components of Go chain called POR (PROOF OF REPUTATION) whose mission is to solve the problems that was encountered as a result of the use of
• POW (PROOF OF WORK)
• POS (PROOF OF STAKE)
•POA (PROOF OF AUTHORITY)
HOW THIS PROBLEMS WHERE SOLVE
Go chain platform help in solving this problems by introducing a consensus algorithm called POR (proof of reputation) mention earlier above which is an upgrade to proof of authority and this promise unprecedented levels of security by nominating publicly, listed companies plz to stake their high valuable reputation by selecting group of 50 nodes to secure the network. Go chain is faster, cheaper and easy to implement thereby processing 1300 transactions per second at 7500x less expensive than Ethereum network. It is envisaged that in 18 months or so the network will be running up to cruising speed of 13000tps which shall be able to run endless blockchain transactions.
PROMOTION OF MASS ADOPTION OF CRYPTOCURRENCIES BY GOCHAIN
Since current blockchain technology does not allow developers to fix bugs and change codes once it has been launched without performing something along the lines of hard fork GO CHAIN intends to add a feature that will allow companies to update their code by deciding on the method which will allow them to change codes either through requiring a number of votes or agreement from specific individuals before any change to their code can be made.
THE TEAM
Go chain core team is a group of software engineers, technology founders, business leaders whose carrier are spent on building high scales, distributed cloud system, including high performance messaging, data storage and compute services for cloud infrastructure.
DEVELOPMENT TIME LINE
Dec 2017 implemented proof of concept, February 2018 private sale through building of testnet, march 2018 public sale, may 2018 public network launched, Q4 2018 next generation smart contracts,Q1 2019 Apache 2.0 license rewrite, Q2 2019 13000Tx per second that is 10x increase in performance and volume over initial launch.
THE TOKEN
• Total token supply 1,000,000,000 Go chain
• Token sale soft cap 2500 ETH
• token sale hard cap 26,500 ETH
• pre sale starts 1st May min investment = 5 ETH
• public sale starts 16th May min investment = 0.5 ETH
• distributed and initially tracked in an ERC token intill MainNet is live and token transferred to Go chain.
For more details please contact
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this article is not an endorsement of Gochain , I always recommend potential investors to conduct their own research and due diligence, not relying solely on the advice of others. Read white paper and remember that investment goes up as well as down.
@outerground
Gochain 2018