Review on GoChain by Sergio Daniel Delgado
GoChain is a cryptocurrency ...
GoChain is a decentralized, high-performance, low-cost, scalable cryptocurrency and blockchain that supports smart contracts and distributed applications.
GoChain's mission is to provide a scalable, low-cost, energy-efficient platform for digital currency and decentralized applications.
10x more decentralized: Open decentralization did not work as planned as over 70% of mining is in China and most of it is run by a few companies GoChain forces the nodes to be in different countries, managed by unrelated people / companies.
100 times faster: GoChain will support very high transaction volumes with quick checks. Ethereum can only process 13 transactions per second, GoChain will initially target 1300.
1000 times less energy: The energy used to run the Bitcoin network could power more than 3.5 million US homes. 1 million to run Ethereum. We believe that this is completely unacceptable and unsustainable. GoChain will use a small fraction of the energy used to run other cryptocurrencies.
Pros
- GoChain chases Ethereum with a set of capabilities that exceed ETH's current capabilities. If Ethereum keeps dragging its heels with updates like Casper & Raiden, Competitors like GoChain will sneak up on it and gain some market share. Smart contracts are going to disrupt countless industries in the coming years and now it's when projects leave their mark and show their use cases. GoChain definitely stands out with its goals of being 10 times more decentralized, 100x faster and 1000x greener compared to Ethereum.
- GoChain is supported by partners / investors such as Amazix, Renowned & Co, Carnaby Capital and many more. Taking a look at Carnaby Capital, We can see that his previous investments include Wanchain, ICON, 0x, Neblio, and several other highly successful projects. For some projects, investors do not stand out as much, but in the case of GoChains are a great advantage.
Cons
- GoChain has some competition. The Dapp / smart contract space is becoming increasingly saturated with new projects seemingly coming out of nowhere sometimes (Looking at you Sparkster and all the other Dapp Platform with little to no adoption strategy.) GoChain definitely has the basics to stand out from the crowd, but it's worth keeping your options open. The best option would be to research all the competitors in this space and go back to GoChain if the fundamentals stand out, chances are that do
- There are no other concerns here. Everything is verified and there are no big "red flags". GoChain will undoubtedly suffer a lot of publicity that could make it difficult to measure prices / entry points. Our only advice would be to keep an eye on all the competitors in this space, it is a difficult task but it is necessary when investing in a space where the "next big thing" could take off at any time.
