GoChain GO

$0.0256
Market Cap $ 16.771 MM (#151)
24h Volume $ 942.633 K
Chg. 24h: -2.14%
Algo. score 4.2/5  (#22)
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GoChain project purpose and description

GoChain clarity of purpose

GoChain purpose and aspects

GoChain is set out to provide a network 10x more decentralized and 1000x faster than current existing blockchain platform

GoChain categories

Digital currencyPlatform

Short description

GoChain is a scalable, Ethereum based smart contract blockchain that is fast, secure and green. It enables DApp and smart contract developers to lift and shift from Ethereum to GoChain for 100x increased performance.

Abstract

GoChain, a standalone blockchain, is a next generation smart contract platform. It’s built upon an improved Ethereum codebase that solves the scaling problem with immediacy. We currently have a working TestNet showing in excess of 1300 transactions per second ongoing with stability and has been running as high as 2400 transactions per second. Vitalik Buterin, one of the founders of Ethereum, has labeled scalability a trilema where all 3 problems need to be solved simultaneously: 1. Scalability; 2. Decentralization; 3. Security Right now Ethereum can only process 13 transactions per second and as such their network is at capacity, yet it’s the industry standard. There are other players coming into the space trying to build new blockchains to solve this scalability issue but that won’t solve the Ethereum scaling problem. Next, many of these new blockchain solutions are 12-24 months out. Over 90% of the smart contracts are Ethereum based and they need an immediate solution. And, that’s where GoChain comes in. We will not only solve the Ethereum scaling problem with immediacy, but anyone currently using Ethereum will be able to seamlessly transfer to our network without making any code changes to get: 1. 10x more decentralization; 2. 100x increase in speed; 3. 1000x improvement in energy consumption Let’s take these one by one and break them down because this is a tremendously difficult problem to solve and it’s a controversial one. If it was easy you wouldn’t be reading this white paper. Let’s start with decentralization because that’s probably one of the most controversial topics today. 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, yet the purists still want to argue its merits. We obviously disagree and further acknowledge that true decentralization in its purest form is not possible today without making some sacrifices to get as close as possible.

Link to Roadmap: https://gochain.io/
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