GOChain recently hitting Binance is in the run of competing to beat Ethereum. Can it reach the same highs?
GoChain aims to go beyond Ethereum smart contacts with the use of Proof of Reputation (PoR) instead of Proof of Work (PoW) and Proof of Authority (PoA). It is a smart contract blockchain platform, which claims to work better than Ethereum because it provides benefits like:
- 1000x less energy consumption
- 10x more decentralized
- 100x faster
Using PoR algorithm. GoChain allows PoA nodes only for the companies that are having a high reputation risk. They have also partnered up with close to 50 Venture Capitalist Backed Start-ups to validate their proof of reputation concept. This is staking your data on the platform in order to solve problems.
They claim that with their 1500 TPS, which is still untested to date, will be able to solve the problems that follow Ethereum:
- The promise of decentralization is not true as is claimed
- Ethereum can only handle 13 transactions per second
- Smart contracts are not hack/theft proof
The ultimate question that follows competitors to Ethereum is whether they can perform decentralized applications as well, if not better and at a faster rate to Ethereum.
Ethereum transacts at 13 per second, this is higher than Bitcoin’s 9, but both are inferior to the claimed record by GOChain of 1500. What makes GoChain more palatable is that the mainnet is already launched, unlike Ziliqa who have delayed their Mainnet for another quarter.
All of this may go unfounded, however a prudent investor who is looking to diversify their portfolio and ensure that they are profitable the next bull run – will hedge their bets by buying all of Ethereum’s competitors in the hopes one actually overtakes them.
Nouvive recommends a purchase at $0.015 to $0.010. Taking profit at a height that is possible to see at close to $8-17 with a time length of 2-3 Years given.
The take profit is based on other competitors have reached the similar all-time highs during bullish runs, taking into account token supply economics.
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